Garland Testifies, Federal Reserve Preview, UAW Strike Consumer Impact
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My mike are no, i'm being silently.

The country's top law enforcement official faces a grilling from .

republicans in congress. What will a garden tell them about the justice department investigations .

into the president sun and the trump first from npr news? The federal reserve meets today .

is a higher bar for raising rates, but also a higher bar of a cutting rates as well.

What will the central bank do? The interest rates?

And the big three auto makers reach a stem mate with the workers union, which is now threatening to expand its strike.

So how and when will this action impact car Prices stay with us? We've got the news. You need to start your day.

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This morning, house for republicans are preparing tough questions for attorney general maric garlands.

They want to press him on how the justice department handle the investigation and one hundred by in the president sun, as well as the indictment of former president Donald trump.

Jackson D. S. Will be watching this hearing before the house judiciary committee for us, and she's with us now.

Good morning jacket. Lin, good morning.

So my garland is testifying at a pretty unprecedented time with these indictments. What are you expecting?

So it's pretty standard for the head of the D. O, J to come before congress as part of the committee's oversight powers. But attorney general garland is going to be in the hot seat.

Garden has made several efforts to portray his office as independent of the president and that IT makes decisions on cases with no interference from biden or anyone else. Still, republicans have long criticised garden in the D. O, J, claiming there's been unable al treatments into trump.

Their defective party leader has been indeed twice on forty four federal charges. Hunter biden was recently edited on three gun charges. Now these are very different cases, but they are behind the rap of attacks on garden and its agency from republicans. Meanwhile, democrats say republicans aren't really looking for facts or truth, just a political advantage, and that's the context in which garland testifies today.

So what do you expect the republican house committee to focus on?

Well, the republicans have made IT clear. They want to focus on hand biden. They've spent months in the house investigating counter biden in an attempt to link wrongly wing to his father, president fighting.

But so far there has been no concrete evidence in an inner view with the washington examiner this week to just share, committee chairman jim Jordan made IT clear that a major focus for the committee this morning will be on hunter biden and special councils jack Smith and David voice. Smith, of course, they had prosecutor in the federal trump criminal cases. Voice is the special council in charge of investigating the president's son.

Counter biden has been under federal investigation in delaware for years now. David wise, who trump appointed, has investigated him since twenty nineteen. And in August, voice was made special council by garland.

And earlier this month, biden wasn't died on felony gun charges. But in the midst of all of this, two irs agents came forward and accused the D O, J of giving biden son preferential treatment and slow walking the investigation into him. Jordan has said that White himself will be brought in front of the committee to answer some of these questions some time later this fall.

Special council James h. Man who did, will be a topic of interest as many .

republican lawmakers have long defended former president trump. They ve portray him as a victim of politics following his independent this summer for attempting to severe democracy, in one case annoyed with holding classified documents in another in the G, O P, along with trump himself, continue to claim that j. Smith is using the crime, these criminal diamonds, against trump as a way to attack the former president into interfere in the twenty, twenty four.

And really quickly, what do we expect garland to say?

Garlin is expected to defend the justice department. He's not gna directly comment on those cases regarding trump or hunter biden. The agency makes a habit of not commenting on open investigations, but he will defend the work of his agency amid all of this public scrutiny and warn against attacks against public servants like wise and Smith and .

bear jacket in D. S. thanks.

Thank you.

Federal reserve chairman jero power says the central bank is trying to strike a delicate baLance, raising interest rates high enough to bring down inflation, but not so high as to torpedo the economy.

Yeah, markets are bedding that balancing act. Will prom pal colleagues to hold interest rates steady when they meet today, but investors will be on the look of any signals about where interest rates might go in the future.

amp. r. Scott horsey joins us now to discuss this high sky. Good morning. Good morning. So rates, i've already gone up a lot in the last year and a half, and inflation is down. Do fed officials feel like their work is done?

Not yet. Inflation has come down a lot since last summer when I topped out at just over nine percent, but it's still north of two percent, which is the fed target. So the question, pal, his colleagues arresting with his, our interest rates high enough now that inflation will continue to come down on its own, or do they need to push rates even higher and possibly raise the risk of recession? For the moment, the fed is expected to take a breather and lever rates where they are. But Michael peers, whose with oxford economics things theyll, pair that with a message that rates could go higher in november or december.

It's a no brain for the first to remain sounding hawke's this meeting. I mean, they want to keep that optionality of traditional hikes if they need to.

Course, higher interest rates make IT more expensive to borrow money for a house or a car or just to Carry a bounce on your credit card. Higher mortgage rates have been a drag on the housing market this year, but so far, the overall economy has been handling higher borrower cost.

Pretty August inflation a little higher than expected. How does that affect the fed's decision making?

Yeah, last cost of living report showed any new inflation. August was three point seven percent at up from three point two percent in july. Most the increase with the result of rising gas Prices.

And we seen those oil production cuts by russians. Haier abia a push the press of crude oil up to more than ninety dollars a barrel. Stephen reuda, who's the chief U. S. Economist mazuma security says that's probably not going to sway the fed on its own, but if higher transportation calls started to push up other Prices.

that could be a different story. I think they look past a political situation that's moving energy Prices, but pass through would worry up.

Last months, for example, we did see air fares go up as a result of rising jet fuel Prices. Most the other inflation forces, if he has been watching those things like rent and service Prices are generally moving in the right direction. Even if they are taking longer to come down, then most people would like.

So does that mean we're going to to be living with higher interest rates for a while.

possibly back in june, a lot of fed policymakers thought they've held to start cutting interest rates next year. On an hour, they were predicting the rates would drop maybe by a full percentage point in two and twenty four. We will get an updated around the fed forecast today, and Michael peers thinks that may show policy makers in more of a holding pattern.

IT feels like there's a higher bar for raising rates, but also a higher bar for cutting rates as well. IT just feels like the committee in themselves up for a prolonged pause and just waiting to see where the next few months of data i'll take us.

pal said last. More of the fit is navigating by stars under cloudy skies. And you can now add some additional fog to that picture.

We ve got the U. A, W strike, the looming threat of a government shut down the resumption of student loan payments. So there's a lot of uncertainty, and you can expect the fed to process .

with caution and P R. Scott horseless.

Things you are.

Auto workers and the big three detroit automakers ers seem to be stuck at an impact six days into a historic strike.

Go 去 go， 我 去 go。

Four gm and Christoper parent companies, atlantis are negotiating with the united auto worker's union, but there's no one occasion of an imminent deal. And now the U. A, W is threatening to expanded its strike unless there's progress in the talk. So what does .

this mean if you are thinking about buying a new car? Talk in good mornington. So you talk to a car shoppers all the time. Is this something people are worried about?

Um it's on people's minds for sure. Uh, last week I was reporting on these strikes, but I also swang by the detroit auto show and spoke with some people who were there, you know, thinking about buying a new car soon. That includes Chris to know. And he summed up his view on the strike.

like this is a solvable, absolutely. When will be solved? I don't know. Am I too worried? Not really.

On the other hand, there was also severe joy.

It's going to drive down the supply of gods. So again, the leaderships are going to, you know, gauge people for more money. We'll sell them more. M, S B.

again again, yeah. Over M S R P, he means seldom over sticker Price like they were doing that too long ago. Both those in for recd are pretty much right.

again. How are they both right? Ones worry.

yeah. Well, to start with the case for not worrying. And to be clear, i'm talking about as a car shopper here, right? The strike has other economic impacts that we're not talking about right now.

It's just a numbers game, right? Inventories that the vehicles that have been built and are ready to be sold there are their highest level in two years. And the number of plants that are on strike right now, it's just not huge.

The unionised dommage ers decades ago, they were like ninety percent of the car market right today is a different picture. They're less than forty percent. And most of their plants are still running. The union strike strategy here has been to start small, pick a few plants to strike and then threatened to expand from there.

So right now, in terms of vehicles litter directly affected by the strike, you're looking at the deep ranger er and gladiator G M C, kenyon chevy colorado and you about the ford bronco and ranger, and that's IT right now. IT does depend on the vehicle whether that's going to have an impact on supply in the near term. Right now, there are a lot of deeper anglers on lots.

There are not a lot of bronks out there. I feel like there is probably a cowboy joke in there make IT work. But in general, this is not about to cause a sudden shortage of cars across amErica OK.

So that's the case for not worrying. What's the case for worrying?

So it's about looking ahead, right? The union has started to put more plants on strike this friday. More plants could shut down because of ripple effects.

And at last, a really long time, we might see sales go away. Now a lot of discounts this holiday season. You know this could have that used cars too. Maybe IT will be slow if that happens, but car Prices are already so high, some people are worried.

Npr, kill dominos. I, who will be back with her cowboy joke made you thanks so much.

And that's the first for wednesday, september twenty eighth.

I'm later fda Martina. Today's episode of birth was edited by a critical tive calmer raghe name and Olivia hampton, produced by Shelley hawkins, the a butch and Julie deb brock. We get engineering support from stay sea abbott and our technical director. Is that common? As always, please start your day .

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