a very warm welcome to our viewers joining us in the united states and around the world. i'm isa soares. just ahead here on cnn newsroom -- >> jobs are back, inflation is too high, covid-19 is done but gas prices are too high. our work isn't done. >> we'll probably have a slowing economy. >> i need to find alternatives. >> i'm just a regular guy.

i don't have a six figure job. i have to be careful. >> the president will meet with leaders across the world if it is in the best interests of the american people. >> the questions that i have, people believe that mbs is responsible for khashoggi's death. >> the president has spoken to that and i'll let his words stand. >> i have mixed feelings on this and if the president called me, i'd say mr. president, you can't trust these people. >> live from london, this is "cnn newsroom" with isa soares. welcome to the show. it is wednesday, june 15th. 9:00 a.m. here in london. and the federal reserve is planning bold action to try to keep the soaring inflation from getting worse. they are expected to raise interest rates by .75, the

biggest in almost 30 years. the concerns that the economy is driving down financial markets. the s&p 500 finished lower for a fifth consecutive day pushing it further into bear market territory. president biden blames the russian president and his war in ukraine for higher gas as well as food prices. but says that he is doing everything he can to fight inflation. have a listen. >> under my plan for the economy, we've made have a ordinary progress and put america in position to tackle a worldwide problem that is worse everywhere but here. inflation. it is zapping the strength of a lot of families. >> we're still going to have inflation for quite some time to come and we'll probably have a slowing economy as well. so there is going to be an element of what people call stagflation in our situation.

>> meantime china is reporting a sluggish recovery from a straight covid lockdown, factory output is up but car sales remain weak. financial markets are reacting to all of this. a lot to digest. the shanghai composite is doing slightly better this morning. and let me get to clare sebastian -- actually, ire pea european markets taking it in their stride. they are green across board. market action expected today, we're expecting to see more market action and clare sebastian is here on the european front. so a lot to get through. let's start first in the united states. you know, last time we saw such a big rate rise in the 1990s, remarkable action, but investors believe that might not be enough. >> certainly not going to be the last.

i think that it is worth sort of looking back at the last years, has there ever been a beating where they are debating range rises between 50 and 100 basis points? i can't remember anything like that. but the thinking is that the fed was slow to act, they spent too long saying that it was transitory because of the supply chain issues and then the war in ukraine obviously added enormous pressure to food and energy prices. but some thought after the april inflation numbers that the inflation might be peaking in the u.s. and what had been sort of trailed as a half percentage point hike for this coming meeting today for the fed, now the rumors were hut out into the market on monday that 75 basis points. that is apparently if you look at the markets and sort of the fed watch tools out there, that is now priced in. so if you don't do that, that would be -- but they have credibility to win back. they have to show that they are

on top of this, that they are willing to act aggressively to get it under control. otherwise they have a bit of a problem. >> it is a fine balancing act. and speaking of balancing act, the ecb have announced an unscheduled meeting. what is rattling them? >> the fed, bank of japan, now the ecb this week. we know that they have a meeting to discuss current market conditions. i think that is a reference to what is going on in the european bond markets. we've seen even german bonds at an eight year high. and in particular we're looking at what they call the spread, the difference between italian and german yields. what the eurozone has been traditionally worried about is when borrowing costs diverge with various country, how do they deal with it, they can't be seen to be paying more into some countries than others. and so whether they use it as a

communication tool to reassure the markets. but we see yields coming down a bit today. >> thank you very much. and the january 6 committee has released new video ahead of thursday's hearings featuring a former white house lawyer. it is expected that the hearing will focus on team trump's scheme to use the former u.s. president to block the 2020 election which never happened. but it shows that john eastman was the architect of that campaign. and here is part of the testimony to the committee. >> he started to ask me about something dealing with georgia and preserving something, potentially for appeal. and i just said to him, are you out of your fing mind?

right? he said i only want to hear two words coming out your mouth from now on, orderly transition. he said i don't want to hear any other fing words coming out of your mouth no matter what other than orderly transition. repeat those words to me. and ifeventually he said orderl transition. and i said good, john, now i'm going to give you the best free legal advice you're ever getting in your life. get a great fing criminal defense lawyer. you're going to need it. and i hung up on him. >> a member of the january 6 committee told cnn more about the panel's findings and what exactly the trump team had plotted. >> eastman really was the final according this they played. the idea was essentially to deny and overthrow the electoral college majority that

jean-pierre joe biden has assembled, and to step outside his role and function and declare lawless powers to nullify electoral college votes that had been certified and sent in. they thought that either trump could be declared the winner in the electoral college or they could kick it into the house of representatives for a so-called contingent election which they knew trump could win by virtue of the number of state delegations controlled in the house. >> meanwhile new york attorney general has opened an investigation into donald trump's fundraising efforts after the 2020 election. a financial investigator revealed that trump's team sent out as many as 25 fundraising emails a day full of false claims about donations. and they claim that they went to a political action committee

formed by trump himself. the attorney general says that the allegations are her duty to investigate. it is a split decision for candidates backed by donald trump in south carolina's republican primaries. tom rice voted to impeach trump and cnn projects that he will lose to russell fry who got the former president's endorsement. >> today the conservatives in the republican party won. today donald trump won. and today the voters of the 7th congressional district won. >> in south carolina's first district, cnn projects that nancy mace was able to win over katie arrington. >> i also want to thank mick mulvaney who endorsed my campaign early on.

he helped us raise some money. he is a great fiscal conservative. i also want to thank former south carolina governor and u.n. base nikki haley. >> and cnn projects another trump backed candidate will compete for u.s. senate seat from nevada, adam laxalt is grandson of the former governor and as well as senator. >> i'd like to thank president donald trump for not only believing in me, but for believing in nevada and leading an america first movement, a movement that is alive and well today here in nevada. >> laxalt will face the incumbent democrat in november. a win for him could help tip the balance of course in the republican's favor. given economic and as well as security priorities, the white house says that joe biden will visit saudi arabia, israel and the west bank in july.

sawudi stop is revising some ol controversies. joe biden had vowed to make saudi arabia the pariah. >> khashoggi was murdered and displeasured and i believe in the order of the crown prince and i would make it very clear that we were not going in-fact sell more weapons to them, that we would make them pay the price and make them the pariah that they are. very little social redeeming value in the present government in saudi arabia. >> that was in 2019. right now members of mr. biden's own party are not happy about his planned trip to saudi arabia citing the murder of jamal khashoggi at the hands of saudi operatives. >> i believe president biden was right when he was candidate biden about this relationship and holding to account the

individual who was complicit in and ordered the brutal murder and dismemberment of my constituent jamal khashoggi. and that is the crown prince. >> i hope in that conversation he will make it clear that the accountability in regards to khashoggi atrocities have not yet bean completed. we have differences with the kingdom on several issues. i hope that he will reinforce and underscore those issues. >> for more on president biden's upcoming trip and the state of u.s./saudi relations, i'm joined by nic robertson. you and i were talking about this, of course previewing this meeting. it was pretty of the worst kept secret to be honest. but what did you hear from the white house yesterday in terms of how the relations that that meeting may go, however awkward it might be to start off with? >> the framing in the bigger context of not only meetinging with saudi leaders, the

invitation coming from the king, but meeting with the kuwaitis, jorda jordanians, other nations. they are framing it in that bigger context and a broad range of mutual issues. you know, president biden -- and this is a difficulty for the saudis. he did make good on some of what he said, stopping selling weapons to saudi arabia. he did do that. he has subsequently found and saudis said that he would find that trying to fight the war in yemen was ultimately going to come around to their view and the united states does seem to be drifting back to that position. but, you know, for the united states, there is no getting away from this, it is going to be awkward. mbs in the view of the united states has blood on its hands and president biden is going to have to do business with them. >> and it is awkward but i read a fascinating article in the "atlantic" basically saying that president biden's decision is

the right one because it is important on the policy front for america's middle class. and this is important because we were talking about stock market, inflation, oil prices and that is where saudi arabia has -- you know, there are long ties with the underwheited states where i very much needed. >> and that trade that first began aboard the "uss quincy" in 1945, it was all about a trade for oil for security. and that relationship sxexists today and that is why job is going back. and if he can get sawudi arabia -- it has been the swing oil producer. it can do it again if it wants to for geopolitical reasons. but let's not forget mbs has a hugely ambitious project to building a whole new city for more than a million people and

he needs a high oil price to be able to meet the expectations of his people. there is a lot in play for him. so, you know, if the saudis to increase the oil output, they know the revenues that come back to him full, and there has to be a quid pro quo for them. part of it is the recognition of mbs, but there will undoubtedly be more. but tradeoffs on many levels. again, i think we talked about this yesterday, that in the big picture you can't -- if the united -- if that relationship is based on oil for security, fundamentally, if you don't provide the security part for saudi arabia, they may not provide the oil. and if you don't provide the security, they will go somewhere else and they may go to russia or china, not the u.s. long term. >> so looks like another win for

saudi arabia on the world tour. great to get your perspective. and we're keeping an i 00 on the u.s. supreme court in the hours ahead to see whether any opinions will be announced. the justices have yet to decide on a number of cases including a dispute concerning a mississippi law that bans abortion after 15 weeks in to pregnancy. gun rights are also in focus. and another case involves a new york law restricting carrying a concealed firearm outside home. the issue is whether it violates the second amendment. the white house says that president biden will sign into law legislation that provides additional funding for security to supreme court justices and extends security protections to their immediate family. the issue of security has been in the spotlight this week after a man was arrested if you can remember near the home of justice brett kavanaugh. the court may be poised to overturn roe v. wade. record heat and widespread

power outages have many in the u.s. looking for ways to keep cool. the latest on the dangerous hot conditions. and that is not the only extreme weather impacting the united states. we'll tell you about concerning wildfires and as well as flooding, that is just ahead. when the doubt sets in. when the heart kicks. and legs pound. when muscles burn. and belief tires. no matter what, we go onon. biofreeze.

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i'm jonathan lawson here to tell you about life insurance through the colonial penn program. if you're age 50 to 85, and looking to buy life insurance on a fixed budget, remember the three ps. what are the three ps? the three ps of life insurance on a fixed budget are price, price, and price. a price you can afford, a price that can't increase, and a price that fits your budget. i'm 54, what's my price? you can get coverage for $9.95 a month.

i'm 65 and take medications. what's my price? also $9.95 a month. i just turned 80, what's my price? $9.95 a month for you too. if you're age 50 to 85, call now about the #1 most popular whole life insurance plan available through the colonial penn program. it has an affordable rate starting at $9.95 a month. no medical exam, no health questions. your acceptance is guaranteed. and this plan has a guaranteed lifetime rate lock so your rate can never go up for any reason. so call now for free information and you'll also get this free beneficiary planner. and it's yours free just for calling. so call now for free information.

the u.s. national park service say parts of yellowstone will remain closed for a substantial length of time following extreme flooding in it northern area. heavy rains and rapid snow melt created the equivalent of two to three months of runoff in just three days. more than 10,000 visitors were forced from the park. parts of roads and bridges have been washed out leaving nearby cities isolated. supplies are being flown into those who are stranded. 40 large wildfires in the u.s. have burned more than 1 million acres of land in aches days. that is according to the national fire center. they say several new large fires were reported tuesday, three in alaska, arizona and one in utah. alaska a experiencing the most

wildfires in the country. flooding and wildfires are just a few of the extreme weather events across the united states including a blistering heatwave affecting more than 100 million people. power outages in ohio are making extreme heat even worse. power company official says more than 200,000 homes as well as businesses are still without power following severe storms on monday. and that outages could last into thursday. one text cas county had a wr main that jeopardized water for 165,000 people. the city says that residents should expect a significant loss in water pressure or no water at all. those who do not have water -- who do have water, pardon me, are being told to boil it before using. temperatures near 100 degrees fahrenheit on tuesday. for more on all of this, let's bring in cnn meteorologist pedram javaheri. and i'm looking at your screen

and those numbers, those temperatures, are just staggering. put it into perspective for us. >> we're running about 10 or almost 20 degrees above seasonal averages. summer officially doesn't even get under way for another week. and you look at these observations, they are impressive as it is, but you have to factor that this is in the shade, and this is not factoring in the humidity which makes it feel another 5 to 8 degrees warmer in some of these areas. and almost 100 million americans under the risk of excessive heat over the next 24 hours and in some areas temperatures easily climbing up into the century mark and staying there the next several days. in fact record temps, potentially 50 more of them to add to the list across portions of the united states. and keep in mind we had severe weather the last several days but still at this hour into early wednesday morning across the eastern united states have left about 400,000 customers without power.

so no power, excessive heat, very little relief into the overnight hours. really a dangerous setup when it comes to when your body typically recovers in those overnight hours. and not able to get comfortable rest when it is incredibly hot outside. chicago, 98 degrees on wednesday. we expect to cool off just a little bit down to 94. and eventually back closer to seasonal averages. but this multiday setup continues once we see the brief cooling trend toward saturday and sunday. the dome of high pressure begins migrating a little farther back toward the north and eventually back towards areas of south. look at the 7 day forecast in places like atlanta. we should be about 78 degree, but we'll be 10 degrees above that for the next several days. brief cooling trend, and by brief and cooling, i'm talking 92 by sunday afternoon and this time next week back into record territory with heat indices into the lower 100s.

chicago, similar trend. and this time next year, we go right back up again to almost 100 degrees. so pretty incredible run of heat given that summer at this point still a week out and these temperatures equivalent to what you'd see in the middle of summer, middle of july into early august. not the middle of june before summer even starts. >> pedram javaheri, thank you very much. and around the world, heatwaves are producing destruck stiff and sometimes deadly conditions. india and pakistan are dealing with more record-breaking heat. and pakistan's climate ministry says that the country jumped from winter to summer without experiencing any spring this year. spain is enduring its earliest heatwave in more than 40 years. temperatures are reaching more than 40 degrees celsius in some areas. forecasters warn that the weather system could move to the france and uk in the coming

days. and let's go to madrid for an update. it is 25 past 10:00 in the morning there. how hot is it already? >> reporter: thanks for asking, isa. 29 degrees sendity grade. and it is going up to 104 fahrenheit. hire still in spain. and this according to the national meteorological service is the hottest day of this heatwave that has been gripping spain this week. and it is the earliest extreme heatwave in 41 years and it is on the heels of hottest may recorded in 58 years. so more than half of spain's regions are under a level three alert, many others on a level two alert. the cause according to the weather experts is a stable front that is combined with a very hot flow of air coming up from north africa.

so the spanish health ministry advising people to drink a lot of water, a lot of fluids, even if you are not thirsty, even if you are not doing exercise, to stave off dehydration. it is not just here, isa, it is going up to france as you mentioned where they are expecting 40 degrees centigrade temperatures, could be the hottest extreme heatwave in 75 years. and there are several parts of southern france that are under a heatwave alert. it is not just france, it is up to the united kingdom as well where they are expecting temperatures in the 30 degree sept centigrade range. very hot for there. and in part of the world, hottest ticket in many towns is a piece of turf next to a swimming pool. >> al goodman, thanks very much. good to see you. up next here on c"cnn news newsroom", an urgent call for more weapons in ukraine as the war has reached a critical stage. we have the latest for you from

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the war in ukraine is now in a pivotal moment. military officials believe this critical stage could determine the long term outcome of russia's invasion. on the ground in eastern ukraine, fierce fighting ranges in the kharkiv region and in severdonetsk.

but president volodymyr zelenskyy says it is vital for the ukrainian military to stay donbas region. and is now pleading for more help which would include modern anti-missile weapon systems to fight russia's aggression. and that help could come soon. u.s. defense secretary lloyd austin will lead a working group of nearly 50 countries to discuss the crisis today with the u.s. expecting announcements of weapons and equipment packages for ukraine. have a listen. >> translator: even though russia has fewer and fewer missiles with each passing day, ukraine's need for such systems remains because russia still has enough soviet types of missiles which are even more dangerous. they are many times less precise and therefore threaten civilian objects and ordinary residential buildings much more. >> and salma abdelaziz is joining us from kyiv. just talk to us about what we're hearing from western intelligence in terms of being at this critical juncture of this war?

because that is important given the meeting we're expecting to see later with nato officials. >> reporter: exactly. that meeting about to start. there is a package expected to be announced, weapons and more equipment for ukraine. but one band-aid, one package won't change the reality on the ground. this crystal moment that western intelligence is speaking of is about the east of the country where ukrainian forces are fail willing, they are losing ground particularly in severdonetsk in the donbas, which if severdonetsk falls and it looks like just a matter of time, that takes president putin one step closer to that larger goal of taking the donbas region. the fear here for western officials is what happens next. you have these gains, these newly occupied regions running all along that eastern flank down to mariupol, kherson and already steps are being taken by

russian forces to solidify those gains. eventually even annex those gains much as they did with crimea. and what western intelligence is warning, that newly occupied land could be used to stage further operations, to stage further assaults on ukraine. president putin withdrew from kyiv weeks agoi ago, but there still an appetite to take more ukrainian territory. so this meeting is not just about what happens right now, how do we hold up the east. some would tell you that it is almost a foregone conclusion that ukraine will lose parts of this territory at least if not and you. they are not claw back what they have. and now the war could drag out for years potentially. so officials need to find a way to sustain a much weaker ukrainian army in the face of continued russian aggression. >> and we're expecting you live in the next 30 minutes or so

with stoltenberg and we'll bring that to you answer that happens. salma, thank you very much. naturaalexei navalny is now facility some 155 mile east of moscow. the transfer is in line with his nine year sentence for alleged fraud which was handed down if you remember in march. navalny survived a poisoning by a nerve agent back in 2020 which he blames on vladimir putin. the kremlin denies the bei accusation. navalny later predicted that since they failed to kill him, they would try to keep him behind brittney griner will stay in russian custody until at least july 2. she played in russia during the wnba offseason and she was arrested in february after authorities claim that is he had

cannabis oil in her bags. since then her extension has been extended several times. supporters are pushing for her relief fearing that russia could use her as a political pawn during its war in ukraine. and a american recently freed says he has filed a petition with the u.n. over his detainment. trevor reed was freed earlier in year and he says russia violated international law by detaining him on made up charges. >> that petition includes legal documents, eyewitness accounts, and that is what is going to be used to prove denial of rights under international law. you know, they fabricated the crime in order to hold me there for political purposes. and this is the first accept in seeking justice and ending, you know, russian hostage diplomacy.

>> reed says he hopes holding russia accountable will force them to stop the practice for good, adding that he wants to see fellow americans, brittney griner and paul whelan, freed as soon as possible. the first flight of a controversial deportation plan by the uk was grounded at the 11th hour. the plane was on the tarmac with engines on and the cabin crew was seen boarding. when the european court of human rights intervened. the court ordered the uk not to deport one asylum seeker for the time being as legal proceedings play out. the ruling from the court led to the remaining asylum seekers being removed from the flight. nada bashir is racking this. this was quite an intervention by the courts. tell us why it decided to ground the flight and what will happen next? >> reporter: absolutely. it was understood yesterday that there were still seven asylum seekers to be deported but in that last moment just before we

were expecting a flight to leave for rwanda, the european court of human rights intervening on behalf of one asylum seeker, an iraqi national, they say this individual had not yet exhausted all the uk legal proceedings. and that paved the way for lawyers representing the remaining six to submit last minute applications. and of course as we know now none of those asylum seekers were deported. but this is the call that we've been hearing from human rights organizations from the very beginning, that there needs to be more time for asylum seekers to be able to launch their applications. and of course we previously understood that more than 100 asylum seekers had received notices telling them that they woulding on that first flight to rwanda on tuesday and that vehicle killed down to seven and now zero. so there are still concerns over the legality of the whole procedure and of course we did see that intervention by the european course of human rights, there have been some question over the jurisdiction that they

have over these uk deportations. the uk is still party of course to the european convention of human rights. boris johnson was asked yesterday ahead of that scheduled flight whether or not it was time perhaps for the uk to withdraw from that convention to allow the government to make up its own rules. and while he didn't answer that directly, he didn't also refute or refuse to say that the uk would consider this. take a listen. >> will it be necessary to chink s change some laws? may very well be. and all these options are under constant review. >> reporter: now, home secretary issued a statement last night saying that she was disappointed that the delight wasn't going ahead as planned but did say that there would be subsequent fli flights. so the government is still very much trying to push ahead with its program. the government of rwanda has also said it remains committed to the program and is ready to

receive asylum nada bashir, tha much. still ahead, terrifying moments as a gunman opened fire in a building packed with children. and it's ready to go our cost for shippining, were cut in half just l like that go to shipstation/tv and get 2 montnths free

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. too washington now where u.s. senators are still hammering out details of a bipartisan gun bill and mitch mcconnell announced that he would support the legislation. but only if the final draft of the bill lines up with the framework announced on sunday. among the reforms that have been laid out so far, an incentive for states to pass red flag laws intended to keep guns out of the hands of people who pose a threat to themselves or others. it also includes a more thorough review process with buyers under 21 who want to purchase ar-15

style rifles and would provide investments for mental health and resources for school safety. a senator says that he thinks that it can get passed wouby ju 4th. have a listen. >> i don't sense that any of the republicans that supported had framework are reversing course. in part because they have seen the outpouring of support for this legislation from gun owners and nongun owners. so i expect that we'll spend this week putting it in text and try to get a vote in front of senate as quickly as possible. >> as though negotiations go on, another reminder of the gun violence plaguing the united states. officials in texas say that police managed to stop a potential mass shooting after a gunman opened fire inside a building filled with children at a summer camp. and josh campbell has the story for you.

>> reporter: parents in texas gist gra just grateful to hold their children after police rush food a summer camp and shot a gunman threatening the camp. police in duncanville say they exchanged gunfire with a man on monday where some 250 children age 4 to 14 and staff were present, some hiding. >> he had texted me and said mom, i think that someone entered the fieldhouse with a gun. >> reporter: and camp counselors began moving the children to a safe area and locking doors. >> we went in a room and then we heard shooting. and then we got scared. and everybody started crying. they just told us to stay quiet and we were in the men's room and we were hiding in the showers. >> just asking god nothing to happen. >> reporter: police shot and killed the gunman. no one else was hurt according to officials.

>> they did what they were trained to do, the counselors, they moved the kids to a safe area and began locking the doors. the suspect went to a classroom, was unable to get inside, and did fire one round inside the classroom where there were children inside. >> there was no hesitation. no hesitation whatsoever. we're thankful for their training that they do exactly what they are train dodd. >> reporter: in alabama last week a man was shot and killed by a school resource officer after a man attempted to enter a resource school. and he was also trying to forcibly enter a patrol vehicle and was killed after an altercation with the officer at the school. >> he confronted it and dealt with it and it ended in unfortunately the death of the suspect, but that is the safest alternative. >> reporter: it has been three weeks since the deadly shooting in uvalde, texas and there are still several questions law

enforcement hasn't answered, particularly the reports that they were treating the situation as a barricaded suspect rather than an active shooter. compare that with the two cases we brought you from the alabama and dallas area that is how law enforcement is supposed to respond, to go to the soundses of gunfire to try to stop that threat. in the case of the dallas suburb camp skincident, not just the police are being applauded by the authorities also praising the camp counselors who quickly sprang into action whenever the shots rang out trying to get the kids to safety. josh campbell, cnn, houston. the u.s. consumer products safety commission reports that 13 children have died while using fisher-price rockers between 2009 and 2021. consumers are being remind that infant toddler newborn rockers should never be used for sleep and children should never be left unsupervised or unrestrained in the rockers. parents should instead put kids to bed on a firm flat surface.

that warning comes from fisher-price product safety commission is investigating all fatalities. the u.s. justice department is contacting down on covid relief fraud. nearly 1500 criminal charges have been brought so far. the cases amount to more than $1 billion in losses and we can expect to see more as thousands are under civil investigation. that is according to the head of the covid-19 fraud enforcement. and it could be an end of an era, bts say that they are taking a break. does it mean that they are gone for good? we'll explain next. past the doubt. papast the pain. and past your limits.. no matter what, we go on. biofreeze.

i'm jonathan lawson here to tell you about life insurance through the colonial penn program. if you're age 50 to 85, and looking to buy life insurance on a fixed budget, remember the three ps. what are the three ps? the three ps of life insurance on a fixed budget are price, price, and price. a price you can afford, a price that can't increase, and a price that fits your budget. i'm 54, what's my price?

you can get coverage for $9.95 a month. i'm 65 and take medications. what's my price? also $9.95 a month. i just turned 80, what's my price? $9.95 a month for you too. if you're age 50 to 85, call now about the #1 most popular whole life insurance plan available through the colonial penn program. it has an affordable rate starting at $9.95 a month. no medical exam, no health questions. your acceptance is guaranteed. and this plan has a guaranteed lifetime rate lock so your rate can never go up for any reason. so call now for free information and you'll also get this free beneficiary planner. and it's yours free just for calling. so call now for free information.

♪ ♪ light it up like dynamite ♪ k-pop superstarss bts are taking a break. the boy band made an announcement and careful to call it a hiatus.

it members say they want time to explore solo projects and one did admit that they were going through a rough patch right now. bts promises that the band will get back together again some day. doesn't sound good. blake essig is joining us from tokyo. i suppose what even wants to know, is take a breakup, what is a hiatus? >> reporter: call it what you want to call it, but it feels like the end of an era. and fans are devastated by the news with some fans taking to social media to say that they have been crying for hours. what will ease the sadness of super fans? a band member hinted had they haven't ruled out continuing to work on projects as a group saying when we gather again as a group, the synergy will be like no other. but for now bts is taking a break and they offered several reasons for their decision including a lack of individual growth and the inability to pursue solo projects fueled by

the unrealistic demands created by the k-pop and idol system to keep producing music. and the band admitted that the dynamic of the group had changed during the covid-19 pandemic and that it has been a long and exhausting process trying to find their identity. take a listen. >> translator: right now we've lost our direction. and i just want to take some time to think and then return. that just feels rude to our fans like i'm letting down their expectations. >> reporter: although it wasn't given as a reason for the group's decision to at least temporarily go their separate ways, all south korean men age 18 to 30 are required to serve in the military for about two years and three band members are due for military service in the next two years. on the business side of things, bts management company saw their stock fall more than 5% of the

result of the announcement, a big loss financially, but of course a big loss for fans who understandably overcome with emotion regarding this announcement. >> lots of tears being shed today including that of my director who is a big fan apparently. blake essig for us in tokyo, thanks very much. now a top wolfer is ergolfe with talking about a controversial series. they say that the media is blamed. >> i don't understand -- i'm trying to focus on the u.s. open, man. i legitimately don't get it. i'm tired of the conversations, i'm tired of all this stuff. like i said, y'all are throwing a black cloud on the u.s. open and i think that sucks. i do feel bad for them for once because it is a [ bleep ] situation. we're here to play and you are talking about some event that happened last week. >> the event he mentioned was just the inaugural tournament in the new liv golf series. liv golf has divided fans and

players alive after poaching some golfers from the renowned pga tour. world number two and number three say that the pga is more important than the enormous sums of money offered by liv golf. >> i've never really played the game of golf for monetary reasons. i play for the love of the game and i want to lay against the best in the world. i've always been interested this history and legacy and right now the pga tour has that. going back to history and tradition and putting your name on trophies that have the legends of the game on them, that is really cool. you know, and that is something that money can't buy. you know, legacy, reputation, at the end of the day, that is all you have, you know. you strip everything away and you are left with what -- how you made people feel and what people thought of you and that is important to me. >> all this just ahead of the

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welcome to our viewers in the united states and around the world. it is wednesday, june 15th. i had to check there. i'm christine romans. >> i'm laura jarrett. and we begin with the economy and inflation. just hours from now, the federal reserve will make a move that it hopes, hopes, will tamp down these soaring price increases we've seen. here is how the presiden