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.