Fed Holds Rates, Trump Officials Grilled, Missing College Student and more
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Transcript
17 segmentsFrom CNN, I'm AfomaDK with the five things you need to know for Wednesday, March 18th. The Federal Reserve voted to keep interest rate steady between 3.5 to 3.75 for the second time this year. That's as investors and policymakers braced for the economic fallout of America's war with Iran. All three major U.S. stocks indices closed in the red, but the Dow tumbling more than 750 points at its lowest level this year. Markets overwhelmingly expected the central bank to announce an interest rate pause. The implications of events in the Middle East for the U.S. economy are uncertain. In the near term, higher energy prices will push up overall inflation, but it is too soon to know the scope and duration of the potential effects on the economy. That's Federal Reserve Chair Jerome Powell. He also weighed in on the Justice Department's criminal probe of him, about whether he misled Congress about the central bank's headquarters $2.5 billion renovation. I have no intention of leaving the board until the investigation is well and truly over with transparency and finality. More news coming up, including the Trump administration's latest effort to counter-rising energy prices.
A U.S. official denied the country attacked gas fields in Iran, instead saying Israel carried out the attack. Earlier today, Iranian state media said the U.S. and Israel attacked parts of its oil and natural gas production facilities, including the South Pars natural gas field, the world's largest. One Israeli official says the strike was carried out in coordination with the U.S. Meantime, energy infrastructure came under attack in Qatar and Saudi Arabia. After a warning from Iran's Islamic Revolutionary Guard Corps, oil and natural gas prices jumped as a result. That's also as Iran has effectively closed to the Strait of Hormuz, sealing off a critical waterway that handles roughly 20% of the world's oil supply. But the White House says it's temporarily waiving the Jay Jones Act to try and counter rising energy prices, allowing foreign flagged ships to transport oil, gas, and other commodities between U.S. ports for the next 60 days. Top Trump administration officials testified publicly today for the first time since the war with Iran started. The Senate Intelligence Committee questioned officials, including intelligence chief Tulsi Gabbard about the administration's decision to strike Iran. Was it the intelligence community's assessment that nevertheless, despite this obliteration? There was a, quote, imminent nuclear threat posed by the Iranian regime. Yes or no? It is not the intelligence community's responsibility to determine what is and is not an imminent threat. Okay. That is up to the president based on a volume of information and information that he receives. It is precisely your responsibility to determine what constitutes a threat to the United States. This is the worldwide threats hearing where... As you noted in your opening testimony, quote, you represent the IC's assessment of threats. In her opening statement, Tulsi Gabbard said Iran's nuclear enrichment capability was, quote, obliterated during U.S. strikes on the region last year. For much more on this story, head to CNN.com. Also in the hot seat on Capitol Hill today, Senator Markwayne Mullin. The Oklahoma Republican is President Trump's pick to replace Kristi Noem as Homeland Security Secretary after she was ousted earlier this month. During his Senate confirmation hearing today, Mullen was confronted about comments he made about Alex Prattie, an ICU nurse who was shot and killed by federal agents in Minnesota. Mullen had previously called him a quote, deranged individual. Those words probably should have been retracted. I shouldn't have said that. And as Secretary, I wouldn't. The investigation is ongoing. And there is, like I said, there's sometimes going to make a mistake and I own it. Mullen spent much of the hearing trying to demonstrate how he'd do things differently from his predecessor. Still, the chairman of the committee, Senator Rand Paul says he'll oppose Mullen's nomination. But their differences go back. Paul calls Mullen a liar with anger management problems. Mullen once called Paul a snake. When we come back, the search for a missing college student on spring break. I wrote a little song to remind you, Choice Hotels, get you more of the experiences you value. The Canberia Hotels got it all. A rooftop bar, have a ball. Bring a date, your squad, or even your mom. Book direct at choiceotails.com.
The family of a missing American college student in Spain is pleading for help. James Gracie's relatives say the 20-year-old was visiting friends for spring break. They say a friend last saw him at around 3 a.m. local time Tuesday outside a nightclub on a popular beach. In a Facebook post, Gracie's mom says her son was reported missing when he didn't come back to his short-term rental and that police have his phone saying it was recovered after being stolen. Local police say they're investigating but didn't provide more information. The U.S. State Department declined to provide details, citing privacy concerns, and other considerations. That's all for now. Our next episode drops at 7 a.m. Eastern. I'm Dr. Sanjay Gupta, host of the Chasing Life podcast. We're going to talk to Dr. Jennifer McIntyre. She's a microbiologist and also founder of food safety strategy, which consults with food companies about how to deal with food safety, including cyclospora. Also, perhaps most importantly, we'll tell you what you can realistically do to protect yourself beyond the standard guidance to wash your fruits and veggies. If we look at outbreaks that have happened in the past, We usually hypothesized that there was water that was contaminated with raw sewage, including from somebody or maybe a few people who were carrying cyclospora. Listen to Chasing Life. Streaming now, wherever you get your podcasts. Go inside the sports moments that brought us together and made history. From the underdogs to the rivalries and the miracles, the new CNN original series Decades in Sports. Watch back-to-back premieres August 2nd on CNN and next day on the CNN app.