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  • HIKING INTEREST RATES

  • FOR THE SIXTH TIME

  • THIS YEAR TO COMBAT

  • STUBBORNLY HIGH

  • INFLATION.

  • THE FEDERAL RESERVE

  • ANNOUNCING ANOTHER

  • SUPER SIZED HIKE, 0.75

  • OF A PERCENT

  • MORTGAGE, CREDIT CARD

  • AND CAR LOAN RATES ALL

  • GOING UP

  • WHEN WILL THE FED SLOW

  • THESE HIKES DOWN

  • WHAT IT SIGNALED

  • TODAY.

  • >>> ALSO TONIGHT, JUST

  • SIX DAYS UNTIL

  • ELECTION DAY

  • PRESIDENT BIDEN TAKING

  • HIS MIDTERM MESSAGE

  • STRAIGHT TO THE

  • AMERICAN PEOPLE IN A

  • TELEVISED SPEECH

  • IT COMES AS POLLS SHOW

  • MOMENTUM SHIFTING TO

  • REPUBLICANS.

  • OUR TEAM ON THE TRAIL.

  • THE KEY RACES AND

  • BATTLEGROUNDS TO

  • WATCH.

  • >>> NEW DETAILS IN THE

  • ATTACK ON HOUSE

  • SPEAKER NANCY PELOSI'S

  • HUSBAND.

  • WE'RE NOW LEARNING A

  • CAPITOL POLICE CAMERA

  • CAPTURED THE BREAK-IN,

  • BUT NO ONE WAS

  • WATCHING

  • >>> NORTH KOREA

  • LAUNCHING A RECORD 23

  • MISSILES IN ONE DAY.

  • IS KIM JONG-UN ON THE

  • VERGE OF HIS FIRST

  • NUCLEAR TEST IN FIVE

  • YEARS.

  • >>> OUR NETWORK

  • EXCLUSIVE.

  • OUR ONE-ON-ONE WITH

  • THE NEW SUPERINTENDENT

  • OF UVALDE SCHOOLS.

  • THE NEW SECURITY AFTER

  • THE MASSACRE

  • AND WHAT HE SAYS ABOUT

  • THE POLICE AFTER THE

  • BOTCHED RESPONSE

  • >>> THE OBESITY DRUG

  • FOR TEENS.

  • DOES IT WORK

  • AND HOW SAFE IS IT

  • WHAT PARENTS NEED TO

  • KNOW

  • >>> AND POWERBALL

  • FEVER.

  • THE FOURTH LARGEST

  • LOTTERY JACKPOT IN

  • U.S. HISTORY UP FOR

  • GRABS TONIGHT.

  • >> Announcer: THIS IS

  • "NBC NIGHTLY NEWS"

  • WITH LESTER HOLT

  • >>> GOOD EVENING

  • TODAY MARKS THE SIXTH

  • TIME THIS YEAR THE FED

  • HAS HIKED INTEREST

  • RATES, ADDING ANOTHER

  • 0.75 OF A PERCENT

  • TODAY.

  • THE SHORT-TERM IMPACTS

  • HAVE LONG HIT HOME FOR

  • CONSUMERS, WHETHER

  • BEING OUTPRICED BY

  • HIGH HOME MORTGAGE

  • RATES OR BEING HIT

  • WITH THE HIGHER COST

  • OF MAINTAINING A

  • CREDIT CARD BALANCE.

  • BUT THE FED'S

  • LONG GAME, RAISING

  • RATES TO BRING DOW

  • INFLATION, THAT HAS

  • YET TO KICK IN

  • IT WILL TAKE SOME TIME

  • AS TODAY'S RATE HIKE

  • TOOK INTEREST RATES TO

  • THEIR HIGHEST POINT

  • SINCE 2008

  • AND THE PROSPECT OF

  • MORE INCREASES TO COME

  • WAS ALL IT TOOK TO

  • SEND AN INITIALLY

  • OPTIMISTIC STOCK

  • MARKET INTO RETREAT.

  • THE DOW LOSING MORE

  • THAN 1.5%.

  • THE NASDAQ AND S&P 500

  • TOOK EVEN DEEPER HITS,

  • ALL AS AMERICANS

  • INCREASINGLY ANXIOUS

  • ABOUT THE COST OF

  • EVERYTHING, HEAD INTO

  • THE MIDTERM ELECTIONS

  • JUST SIX DAYS FROM

  • NOW.

  • LET'S START WITH TOM

  • COSTELLO

  • >> Reporter: JUST

  • MINUTES AFTER

  • ANNOUNCING THE SIXTH

  • RATE HIKE THIS YEAR,

  • FEDERAL RESERVE

  • CHAIRMAN POWELL IN THE

  • SPOTLIGHT.

  • >> IT WILL TAKE SOME

  • TIME FOR INFLATION TO

  • COME DOWN.

  • IT WILL TAKE TIME, WE

  • THINK.

  • >> Reporter: THE TOP

  • QUESTION, COULD THE

  • FEDS SLOW THE PACE OF

  • RATE HIKES IN

  • DECEMBER

  • THE ANSWER, A RATE

  • HIKE PAUSE IS

  • PREMATURE.

  • >> WE THINK WE HAVE A

  • WAYS TO GO

  • WE HAVE SOME GROUND TO

  • COVER WITH INTEREST

  • RATES.

  • >> Reporter: POWELL

  • SAYS INFLATION IS NOT

  • COMING DOWN, AND IT'S

  • BETTER TO RAISE RATES

  • TOO QUICKLY THAN TO

  • ALLOW INFLATION TO

  • BECOME ENTRENCHED.

  • >> POWELL HAS TO

  • THREAD A VERY, VERY

  • NARROW NEEDLE.

  • >> Reporter: NEARLY A

  • DOZEN DEMOCRATIC

  • LAWMAKERS, INCLUDING

  • SENATOR ELIZABETH

  • WARREN, HAVE WRITTEN

  • TO POWELL ABOUT THE

  • ALARMING PACE OF RATE

  • HIKES, AND THE

  • DISREGARD FOR THE

  • LIVELIHOODS OF

  • MILLIONS OF WORKING

  • AMERICANS.

  • IN SAN DIEGO, HIGH

  • SCHOOL TEACHER WHITNEY

  • CHASE AND HER FAMILY

  • WOULD LIKE TO BUY A

  • HOUSE, BUT WITH HOME

  • PRICES HIGH AND

  • MORTGAGE PRICES

  • DOUBLING TO 7%,

  • THEY'RE STAYING IN A

  • RENTAL FOR NOW

  • >> WELL, THE HIGHER

  • INTEREST RATES AT THIS

  • POINT I MEAN HAVE JUST

  • KIND OF MADE IT

  • IMPOSSIBLE

  • IT'S NOT EVEN WORTH

  • LOOKING INTO AT THIS

  • POINT.

  • >> Reporter: IN

  • CHICAGO, A WEEK AFTER

  • DOLORES MASON BOUGHT A

  • NEW CAR, SHE WAS LAID

  • OFF.

  • >> OUR CREDIT CARDS

  • ARE IN SHAMBLES.