Is the Fed action today too little too late?

The lead starts right now.

The biggest interest rate hike in more than two decades, why economists say the move should

actually help us all in the United States and bring prices on everyday items down.

As a brand new CNN poll tells us how you think, President Biden, is handling the economy

and more.

Plus, Russians blocked Ukrainian forces managed to push back Kremlin fighters, trying to

storm the Mariapal steel plant while civilians pack caravans of cars some 10 people deep

in an effort to escape.

And the new audio this hour of House Republican leader Kevin McCarthy, how he actually discussed

using the 25th Amendment to try to remove Donald Trump as President just days after the

January 6th Capitol attack.

Welcome to the lead, I'm Jake Tapper, we begin with breaking news in our money lead

moments ago, the Dow industrials closed up, up, up by more than 900 points.

The NASDAQ and SAP 500 also closed sharply higher.

This comes on the heels of the Federal Reserve this afternoon announcing the biggest increase

in interest rates in 22 years amidst real fears of a recession.

The Fed added a half point to its benchmark rate.

You'll see the difference in higher interest payments on credit cards, car loans, mortgages

and more.

This is an attempt to put the brakes on inflation by lowering consumer demand.

Our brand new CNN poll shows the American people think the economy is by far the most

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