breaking overnight. the president of columbia

university resigns after campus protests erupted into a powder keg of controversy. why she finally stepped down after months of scrutiny over her handling of pro-palestinian demonstrations. relief for wallets everywhere. the inflation rate dips to the lowest level in three years. the manhunt for a murderer heats up in north carolina. the stark warning from the sheriff, as the search enters day three. hurricane ernesto rampages across puerto rico. powerful winds and torrents of rain knocking out power to the island. we're tracking where the storm is barrelling toward next. and mars makes a meal out of a snack food giant. >> the multi-billion dollar mega merger set to bring snickers and pop-tarts under one roof. aaron judge crushes his 300th career home run and makes major league history in a

late-night thriller. it's thursday, august 15. "early today" starts right now. good morning. glad you're with me. i'm frances rivera. we begin with breaking news this morning. the president of columbia university in new york has resigned, months after protests over the war in gaza roiled campus. shafik was criticized by both palestine activists and congress for her handling of the protests. she called in nypd to clear anti-war encampments and sit-ins, outraging many students. and lawmakers accused her of failing to react to anti-semitism on campus. it's a welcome relief for every american. for the first time in three years, inflation has dropped below 3%, paving the way for a potential interest rate cut next

month. inflation clearly retreating from the peak of just over 9% two years ago, with prices for airfares, used cars and apparel falling. but cooling inflation doesn't translate to savings. grocery prices are still up more than 20% over four years. housing up 22%. home insurance up nearly 15%. and auto insurance rates up 50%. coming up, we'll go live to cnbc with more on how the news could impact your wallet. vice presidential nominees are getting closer to facing off on a debate stage. governor tim walz has agreed to an october 1st debate hosted by cbs. but we are still waiting to see if senator jd vance will also step. drew petramoix joins us now. good morning. >> reporter: senator vance reacted last night on fox news saying he's willing to debate walz multiple times, but the campaign wants more information. >> we want to actually look at

the debates, look at the moderators, talk about the rules a little bit. i strongly suspect we're going to be there on october 1st. but we're not going to do one of these fake debates, laura, where they don't actually have an audience there or set the parameters where we can have a good exchange of ideas. >> reporter: the top of the ticket is focussed on the economy. donald trump accused vice president harris of stealing his plan to end taxes on tips. he announced he also wants to end taxes on social security. while explaining these policies, the former president often veered into personal attacks. >> when kamala lays out her fake economic plan this week, probably will be a copy of my plan, because, basically, that's what she does. she's not smart. she's not intelligent. i mean, the clown that she picked as a vice president, this guy is a clown. he was so bad. >> reporter: the harris campaign says inflation is at its lowest in over three years, and the economy is strong. she says donald trump's agenda

would take the country backwards. the vice president will get a chance to lay out her economic plan in her own speech in north carolina on friday. her campaign says she hadwill c for a federal ban on corporate price gouging in the food industry. frances? >> drew petramoix, thank you. the independent candidate in this race wants a meeting with kamala harris. the "washington post" was first to report that robert f. kennedy jr. tried to meet with the vice president to discuss the possibility of serving in her cabinet in exchange for an endorsement. people familiar with the conversations tell the post that harris and her advisors have not shown any interest in the proposal. the kennedy campaign said mr. kennedy is willing to meet with leaders of both parties to discuss the possibility of a unity government. president biden's son is facing new allegations about his foreign business dealings. the "new york times" says it has obtained state department

records that reveal hunter biden wrote at least one letter to the u.s. ambassador in italy in 2016 when his father was vice president. a white house spokesman then said then-vice president biden was not aware of the letter at the time. that letter was report edly on behalf of burisma where hunter biden was a board member. nbc news has not obtained the documents, and his lawyer calls it a proper request, saying no meeting occurred. no project materialized. no request for anything in the u.s. was ever sought, an introd requested. in north carolina, the hunt for an escaped murderer is entering day three. ramon alston escaped custody on tuesday while being transported to a doctor's appoint atment ate unc medical center. the sheriff says he is extremely dangerous. >> reporter: a $35,000 reward for any information on the whereabouts of 30-year-old

convicted felon, ramon alston. local, state and federal authorities launching a massive search after he escaped from armed guards. >> hospital staff is on the line advising an inmate has just ran from the hospital. >> reporter: alston was being transported to a routine medical appointment when he jumped out of a corrections van and took offer into the woods. still in handcuffs and a waist chain. >> we feel pretty confer rable from a search standpoint that is he not in the not in the immed enat immediate vicinity. >> reporter: he is in prison for shooting and killing a 1-year-old girl on christmas day in 2015. >> he's been involved in criminal activity since he was a juvenile. he's extremely cagey. extremely dangerous. and he has nothing to lose. >> reporter: authorities believe they're closing in. >> there are two leads i've got, we're not going to say what they

are, that we feel are solid, rock solid. and that's a teaser to the folks out there that know what's going on and know that they are involved in it. we know you, and we're coming for you. >> reporter: priya sridhar, nbc news. now a nbc news exclusive. despite texas governor abbott's promise to keep busing migrants to blue cities, those transports are actually down. it's due to a steep drop in the number of migrants apprehended at the border. migrant border crossings in june were around 84,000, down from a record 300,000 in december. and the lowest monthly number since president biden took office. a spokesman for abbott acknowledged there are fewer migrants to bus out, but say it proves the governor's policies are working. while the white house credits president biden's policies, including an executive order restricting asylum. turning to puerto rico, where residents are reeling after hurricane ernesto battered the island as a category 1

storm. nearly half a million residents are still without power this morning, after damaging winds and drenching rains. guad venegas has the details. >> reporter: massive power outages and dangerous conditions caused by hurricane ernesto. heavy rains have caused rivers to overflow their banks. officials say rescuers are searching for the driver of this vehicle that swept away. flooding conditions forcing a shutdown of roads and bridges. >> stay away from the coastal areas. stay safe, at home or wherever you are staying in the case of tourists. >> reporter: the storm also causing havoc on puerto rico's vulnerable power grid, still recovering in recovering from previous storms. nearly 700,000 customers, nearly half the island, left without power. luma energy assuring they are on the ground, working to re-establish service as fast as possible with more than 1500

technicians assessing the damage. yet, no indication of how long the outages will last. [speaking in a global language] those who can, now relying on backup generator, wondering when the power will be restored. puerto rico grappling with the aftermath of yet another storm. guad venegas, nbc news. for what's next, let's turn to meteorologist ryan hanrahan. >> good morning, everyone. the good news is hurricane ernesto continues to move north of puerto rico. the weather has improved on the island quite a bit. the storm is now about 180 miles to the northeast of grand turk island. winds of 85 miles per hour. moving to the northwest at 16 miles per hour. it's going to turn a little bit to the northeast. and it looks like it's going to come very, very close to bermuda. hurricane watch is in effect for bermuda. landfall would be sometime late friday night, early saturday morning. then the storm curves out to sea

to the south of canada. it looks like it does come close enough to the east coast of the united states that some pretty big waves and swells and rip currents will develop along the atlantic ocean down the eastern seaboard, because of ernesto, as it moves to the north. got some storms this morning out in the midwest. it's going to get awfully stormy in chicago shortly. a slight risk for severe thunderstorms from chicago to kansas city and st. louis. 21 million people at risk for severe weather. a couple tornados and large hail and wind. th ouple storms. warmer, even hot down to the south. 90 in kansas city. and that's today's weather. frances, back over to you. >> okay, ryan, thank you. a judge has come down with a historic ruling. >> aaron judge has a permanent

green light. a 3-0. hammered in the air! deep to left field, history! number 300 for aaron judge! >> and he does it. aaron judge hit his 300th home run in the yankees' victory over the white sox. the slugger becomes the fastest player in history to hit the 300-homer milestone. "early today" is back. >> a moment with how the inflation is impacting markets. and how a disney+ free trial could affect a lawsuit. could affect a lawsuit. it's in e to stand strong. supplement your bones with high-absorption magnesium. nature's bounty. it's in your nature. skincare can start in the laundry room. that's why i always recommend all free clear for sensitive skin. it's free of dyes and perfumes. it's a key part of my self care routine. it's a clean that's gentle on my skin.

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open. and it is promising news for anyone in the market for a new home or hooklooking to refinanc >> the fed is expected to ease inflation next month and finally cut interest rates. good morning sylvia. >> very good morning. indeed, big news on the economy. the consumer price index basically measures prices of goods and services. we got new data yesterday that came in below expectations on an annual basis. bottom line here is that the data has actually swept away investors' fears about a potential u.s. recession, at least for now. as a result, at the time for now at least, the expectation is that we're going to see the federal reserve cutting rates in september. and there is a 62% probability of a 25 basis-point cut at that meeting. now the relief is not going to be immediate because it takes a

couple months for a change go monetary policy to translate into the consumers' wallets. i want to tell but this big deal in the consumer space with mars buying kella nova for $35.9 billion u.s. in cash. so this means that mars is actually going to get a few more brands, such as pringles and pop-tarts, and ultimately, it comes at a time when consumers have faced higher inflation. so this consolidation in the sector could actually provide a little bit of a boost to some of these company names. >> we can't wait for those price breaks. okay, sylvia, thank you. disney is trying to use the small print from their streaming service to get a wrongful death lawsuit thrown out. jeffrey piccolo says his wife died after suffering a severe allergic reaction to food at a disney park. disney is trying to get the case dismissed because of the terms of service he agreed to when he bought disney+ and tickets for

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and "the notebook". one neighborhood in san francisco is waking up to honking cars as waymo cars have congregated and honk their horns. and chick-fil-a is bringing back a menu favorite, the banana pudding milkshake and the honey pepper chicken sandwich. it starts on august 26. we'll be right back. august 26. we'll be right back. i bet allison doesn't get jelly on her shirt. urgh! i bet noah lyles doesn't get smoothie on his jersey. aw, come on. i bet carl lewis doesn't get tomato sauce on his jacket. dang it. urghh! ♪♪ stains happen to the best of us. when they do, tide's got you covered. pasta in paris? when in rome! it's got to be tide.

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lifetime. an army father's unforgettable reunion with his two young daughters after serving overseas with the arizona national guard. our morgan chesky has the story. [cheers and applause] >> reporter: this was the sound as the first battalion of the arizona national guard's 158th infantry regiment finally returned home. [cheers and applause] families gathering to greet loved ones in uniform they haven't seen in almost a year. but for sargent christopher fulton, returning home from his third deployment. >> one in iraq, two to the middle east elsewhere. >> reporter: the two people he can't wait to see are not in this crowd. >> i just want to see my babies. i'm so excited to see them. excited to see their face, their smiles and get those hugs. >> reporter: daughters, layna and lana already in school. mom jordan skrdescribing the challenges their family's faced.

>> it's hard, you know. that drive away, you know, the dropoff. it is challenging. but i just try to remind them, like, what their dad is doing is important. >> reporter: but, with a little help from the school. >> i'm so excited to see their little faces and see how much they've grown. >> reporter: this army dad hiding backstage as the students filed in for an assembly. >> they're going to love this. they're going to remember this for the rest of their lives. it's going to be a core memory and something that they have. >> reporter: the moment that curtain opens? absolutely unforgettable. dad christopher doing his best to soak up every second. >> it's actually real now. no more video chats. ki actually touch them and see them. so i'm so excited right now. they mean the world to me. like the best gift i ever had. >> and those are the tears we welcome, thehappy ones.

our thanks to norgmorgan for th. turning to the light show over earth. northern lights and the phenomena from space. matthew dominick recorded this time lapse video with the moon setting right behind it. according to nasa, the northern lights are caused by explosions of energy as charged particles from the sun interact with the earth's magnetic field. it's so cool when you see, but even more cool from up there. summer's not over yet. the "today" show summer concert ser series continues. chance the rapper will be live. and thanks for starting your thursday morning with "early today." i'm frances rivera. have a great

more news now is on the way. s n. breaki