>> and i'm alisyn camerota. it's a busy news day. we're following several major stories at this hour. right now, family and loved ones are gathering in memphis for the funeral of tyre nichols. you can see them here, just moments ago entering the church. the community celebrating the life of the 29-year-old. on january 7th, he was pulled over and brutally beaten by five memphis police officers. we will bring you the procession when it begins. also today, the fbi searched president biden's summer home in rehoboth beach, delaware. this is the third known search of one of biden's properties, as part of the investigation into his handling of classified materials. we're told that no classified documents were found during today's search. the white house press secretary will take questions on all of this and more soon. meantime, the president will meet with house speaker kevin mccarthy next hour over raising the national debt limit. republicans are demanding spending cuts, but the white house insists raising the debt ceiling is not about future

spending. and let's begin in washington, d.c., where the federal reserve has just announced its latest decision on interest rates. economists predicted an eighth straight rate increase as the central bank tries to tamp down inflation without causing a recession. matt egan is inside the federal reserve. what's the decision? >> reporter: 25 basis points, the fed just delivered its eighth straight interest rate hike, lifting interest rates to the highest level since 2007, all part of the fed's quest to get inflation back down to healthy levels. but importantly, the fed is dialing back the pace of these interest rate hikes. going from 75 basis points this past summer and this past fall to 50 basis points in december, to this more traditional move of 25 basis points today. now, this was widely expected, widely telegraphed, and yet, it is a significant strategy shift, nonetheless. the fed is still trying to slow this economy to cool off

inflation, but they've gone from slamming the brakes to just tapping the break. and that is a big deal, because it lowers the risk of an accident caused by the fed. either in financial markets or in the real economy or both. so what does all of this mean? borrowing costs are going higher, they're going to stay evaluated. we're talking about mortgage rates, credit cards, car loans, all of them have gone up sharply, no relief expected anytime soon. but this is also an acknowledgement from the fed that they think that their strategy is working. that all of this tough medicine is, in fact, cooling off inflation. in fact, the fed inserted a new line in this statement saying that inflation has eased somewhat. but remains evaluated. so this is the fed's way of saying, look, we are making some progress, but we're not going to declare victory just yet. and the fed kept in their statement a line saying they do expect ongoing interest rate hikes are going to be needed to get inflation back down.

during the press conference coming up in the next 25 minutes or so, fed chair jerome powell will be pressed on how much higher he think interest rates have to go and critically how long they're going to have to stay high. victor and alisyn. >> thank you very much for the breaking fed news. now let's go to memphis where a celebration of life for tyre nichols is about to start. the procession is underway. family, friends, and civil rights leaders are gathering to remember the 29-year-old who was fatally beaten by five, now former memphis police officers. so let's listen in for a second. all members charged with second-degree murder.

>> kamala harris expected to attend the service, but not expected to speak. there's also the families of george floyd and breonna taylor. nichols will be eulogized by the reverend al sharpton. ryan young is outside the church there in memphis. cnn crime and justice correspondent shimon prokupecz is here with us with the latest on the investigation, including details on more new police recordings that will be released. let's start with you there in memphis. war you seeing there? >> victor, tough day. obviously, this is the community's first chance really to come out and try to put their arms around this family. there have been news conferences, but never before have people had the chance to come out and surround this family in love. all of this with an ice storm that's hit the city and made it pretty hard to pass around this town. that's why the funeral had to be t delayed today. but when you think about this, the outside of people protesting last week, this really gave everyone a chance to sort of show up and feel the common pain that so many people talk about.

we've had folks fly as far away as l.a. to be here today, to city here in this grief, and talk about how raw the emotions are where they feel like police did wrong by a young man, who was just 29 years old. i look at the picture from inside that funeral, and you can see him holding his child. so think about the life that tyre had ahead of him. listen to this man that we talked to from l.a., talk about why he felt that he needed to be here. >> to see a young black man be beat to death by police reminded me of the beating that rodney king, that happened over 30 years ago in l.a. i wanted to show my support for the nichols family. i'm here representing laura king, the daughter of dr. king. >> reporter: i don't think it's lost on any of us how different they would have been. i think it's people who have

been talking about as the change in policing. and some folks have mentioned that they're happy that the police chief was able to fire these officers and the d.a.'s office was able to charge them. but the question now is, in a city that experienced a rising crime rate, what are they going to do moving forward to be able to give people the kind of justice they need while at the same time needing protections, still under the cover of law. so many questions as this funeral gets ready to get started. i will also tell you, the secret service has been in place for quite some time and people said that they were happy that the vice president was coming to town to add more light and magnification to this ceremony. >> let's bring in shimon. so is there new police video that's come out? >> at some point, we expect to see new video, of the city saying they'll release that once they're done with this administrative investigation. they do expect to see more officers disciplined or charged.

>> what's on it? >> more body camera footage, and whether that's audio from the body transmissions. they're not being very specific, but giving indications that they want to be transparent, they want to release more information. but because there's this pending investigation that's going on, they need more time. so they're asking for patience. but, you know, they realize that they need to release more information. there are still a lot of gaps in what we know. >> all right. let's hold on for a second. we're going to go to the white house, where the white house counsel is speaking outside the white house on the fbi search. let's listen. [ inaudible question ] >> sure, thanks for the question. i don't think we'll get ahead of potential speculation and steps that could happen in the investigation. the president has been fully cooperative and directed his team to be fully cooperative. and that's because he believes in the independence of the justice department.

he believes in giving them the space to conduct a author rereview and to conduct that review efficiently. that's why he's moving quickly to give them access to his home in wilmington, to give them access to his home in rehoboth, so they can go a full search swob they're able to get access to the information and move ahead in their view. we're not going to speculate about potential things that may happen in the future in this investigation. but we've been fully cooperative. his lawyers are in direct discussions with the justice department and that's going to cont continue. >> why did it take so long for a search of the rehoboth beach residence to occur. >> that's a good question. we've been working directly with the justice department from the very beginning. as soon as the initial set of materials was discovered at the penn/biden center and it was reported to the archives, and the archives notified the justice department about the finding. and the president's personal attorneys have worked closely with the justice department's about this office.

and we've been following the justice department's lead and coordinating these searches with them. and so, you know, if you want to ask granular questions about the decision making about the search or the timing or anything like that, i would refer you to the justice department. >> a couple of questions which are pretty simple. has the fbi conducted any searches of any other locations associated with the president that you or the white house is aware of? >> look, i think we're providing information as this goes on and answering questions about the search activities as they've been happening. i can say, you know, that we have cooperated fully. the president's personal attorneys have provided information to doj. we've addressed openly and directly the searches that were conducted first at the president's wilmington residence and then today at the rehoboth residence. you saw a statement that was released by the president's personal attorney, for example, that no documents with classified markings were found in loebt today. we're going to continue to

provide information as this investigation goes on and ensure that you guys have the ability to share with the american people the information that is important for them to see, as the president's cooperating with this investigation. i want have been clear to respect that investigation. but as it's appropriate, like we did today, if we have information to share about activities that have been conducted, we will do that. >> just to be very clear about that. did anyone at the white house at any moment tell the national archives in any form that they could not release a press release about the discovery of classified documents? >> what's that's in reference to? >> there's reporting that came from james comer, who said in his conversations with the national archives that they were told that it could not release a press release at whatever point it was, about the discovery of classified documents. did anyone at the white house

tell them not to do that? >> i don't know anything about that. if that's actually what he said, it's probably better to ask the archives if that's actually what was said and try to understand a little bit more what he meant. >> in my first question -- it was yes or no? >> i gave an answer to that question. josh? >> -- anymore classified documents. if there are none found today, do you think -- [ inaudible ] >> look, the justice department is engaged in an ongoing investigation and an ongoing investigation, i should add, that the president has been fully cooperative in, offering unprecedented access to his home in wilmington, to his home every single room of his home in rehoboth, as well as the one in wilmington. and giving them access to the information that they need. he's moving quickly to get them the information that they need. i'll be really careful not to characterize what the justice department is doing in their investigation, probably more appropriate for a question like that to be asked of the justice department. so i would point you to them.

>> does the white house plan to comply with the white house oversight committee's -- >> can you say a little bit more about that? >> the house oversight committee has asked for communications regarding this. it's also asked to see the documents that were found. do you plan to give those records to the house oversight committee? >> we received a few letters from the house oversight committee in recent weeks. we actually gave them a response letter earlier in the week, or excuse me, last week, i should say, from the white house counsel. we're engaging in good faith with them. have reached out to the committee staff to ensure that we are being responsive to these requests. obviously, when you're in an ongoing investigation like this with the justice department, that you're fully cooperating with, you want to protect the integrity of that investigation and take safeguard information from the investigation to protect the law enforcement decision making and things like that, but we're in communication with the oversight committee. we're operating in good faith with legitimate oversight

request. >> with what peter was asking, are there any conversations about other areas that former vice president biden was working in after he left though at the university of pennsylvania? any place there might be documents? >> the president's personal documents have worked on that. they've been working in open consultation with the department of justice. i'm not going to speak to sort of decision making that the justice department is going to make about how to conduct their investigation. that certainly would be more appropriate to be asked of them, as opposed to us. but, you know, we're being fully cooperative. we're offering up access to the president's personal homes. you know, we've been cooperative with the justice department, ensuring that they have access to materials and handing any materials that are found over to the justice department. like initially was done with the national archives. we're going to continue to be cooperative with the justice department throughout this. >> scott? >> handwritten notes twice now, the fbi has taken, you know, what you would describe as

hand-written notes. have they given any explanation to the president's lawyers from the white house why those notes are different? i assume they're not taking every single hand-written note they come across in the house. what is nit particular about that? >> i think you see today in the statement that was released by the president's personal lawyers and the statements that was released by the president's personal attorney after the search of the wilmington house, you know, i think that they believe that some of the materials that were seen and were taken, they appear to relate to his time as vice president. so, you know, i'm not going to characterize too much of the underlying contents, but i think we've spoken to why certain materials may have been taken. >> was there any reason to believe that anybody else in the biden family would have also had access to the same documents?

>> i'm not going to speak to the negotiations or discussions or collaborations between the president's personal attorney and doj establishing it. we're cooperating fully with the justice department and ensuring that they have access to the house -- the rehoboth house today to be able to do a thorough search and it's because the president is moving quickly. >> is the white house aware of what specific -- what they actually are and what they contain? you said they might include something about his time as vice president. >> i'm not going to be able to speak to the underlyinging contents. but i'll say again, you know, as they move forward with this investigation, the president, his attorneys, the white house

will be fully cooperateive with th that. >> have they told you specifically? >> at this point, what is the total number of documents bearing classified markings? >> that's a good question. i think that's probably more appropriate question for the justice department. i don't want to characterize what they're reviewing and going through all of that. thank you, guys! >> you've beis there to a spokesman from the white house council's office after an fbi search at the president's beach house in rehoboth, delaware. it's the third fbi search for documents with classified markings, according to the president's private attorneys, his personal attorneys, i should say. there were no classified documents found, but there were some hand-written notes that were collected there by the agents. let's bring in cnn's paula reid, jeremy diamond, and former senior official at the fbi who is now president of the wave

llc. let's start with what you're learning about the search today. >> the good news for the president and his team is that no additional classified materials were found at this property today. the bad news is that this is the second time in just two weeks where there have been federal investigators as at a house owned by the president. today's search, as with the search of his wilmington home about two weeks ago, this was done in coordination with the cooperation of the president's team and this was planned. the president's personal team had already searched both of these houses, but once this became a full-blown special counsel investigation, it was very much expected that the fbi would want to do their own searches, so on the 20th of january, we saw the fbi spend about 13 hours in the president's wilmington home. they found additional classified information there. the big question today is whether they find anything else, and good news again for the president, they did not. but two outstanding questions right now. will there be any other

searches? you heard the white house council spokesman, he asked that and made a pretty wide dodge around that question. there have been a lot of questions about how transparent the president's team has been, because just yesterday we learned about a previously undisclosed visit that the fbi made to that former office where this all began&a lot of questions about why the justice department nor the president's team had previously disclosed this, especially because it was a pretty standard step when assessing a situation like this. another important thing that the white house council spokesman's touched on which i think is fair, clearly everyone was trying to move really quickly. today was robert herr, the special counsel's first day on the job but they have already conducted these two searches and there's a lot of desire to move this along as quickly as possible. >> josh, as you know, when it was first revealed that classified documents were found at president biden's former office and home, a lot of republicans were saying, where's the fbi raid? where's the fbi raid? why is there unequal treatment

between donald trump and joe biden? well, now the fbi has searched president biden's properties, but is there a difference between these two things? >> i think there is a difference between these two things. one, for mar-a-lago, there was a required search warrant. we have reporting that there was potential obstruction of justice, which means the movement of potential evidence or destruction of evidence in this case with the current president, you have cooperation and a thoroughness that continues to evolve the process. and a lot of folks are getting two things conflated. they're seeing the investigative process play out, publicly. investigators would hope that wouldn't happen. and a pr crisis. those two things are not mutually inclusive.

>> we know kate bedingfield was on yesterday, she said the american people don't care much about this. they care about inflation and listed a few other important issues. what should we deduce by the white house putting out this spokesperson from the white house counsel's office that maybe they think this is of greater interest than they're seeing in front of the curtain? >> i think if you look at timing, this is about trying to take out some of the pressure in the briefing room. they wanted to try to get some of these questions from reporters about today's search out of the way. but a very intentional choice there by the white house to have ian sams, the spokesman for the white house council's office appear in front of the west wing entrance of the white house and not at the briefing room podium with the seal of the white house behind him. that's a very intentional choice to try to put some distance, as we've seen how this has played

out so far, some distance between the white house's official activities and this ongoing investigation of the president. but today, of course, there were a lot of questions from reporters. i don't know that there were many more answers than when we've seen the white house press secretary have to parry a lot of these questions herself. ian sams, the spokesman would not say if other searches have been conducted by the fbi. he wouldn't confirm this fbi search that we reported on, of the penn/biden center, reporting those questions to the department of justice. and couldn't speak to the contents of the notes that were found today by the fbi and that were taken into their possession from that rehoboth home. so, there are still a number of questions remaining here. and the overall emphasis here was to say, we are cooperating, we are fully cooperating. he must have said the word "cooperation" or "cooperating," a dozen or more times. that's where they want the focus to be, on their cooperation with the doj, to try to distinguish

as to how donald trump has handled his investigation. >> thank you. so next hour, president biden and kevin mccarthy are going to meet for the first time since mccarthy became house speaker. they're going to talk about the looming debt ceiling crisis. we will preview their sit-down, next. and in just minutes, we will take you back to memphis where the funeral service for tyre nichols is happening right now. stay with us. so no matter what the market's doing, he's ready. and that's... how you collect coins. your money never stops working for you with merrill, a bank of america company. ♪ this feels so right... ♪ adt systems now feature googogle products like the nest cam with f floodlight, with intelligent alerts when a person or familiar face is detected. so you can listen in... sam. aneven speak up. sophie's not here tonigh i can show her the videtomorrow, anyou can keep playing. thank you. at would be great. ♪ this feels so right... ♪ when the most trusted name in home security adds the intelligence of google,

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>> and the church said amen. i want to invite you in these moments to silently read the obituary is printed and as well give your attention to the screens and receive this pictorial tribute. ♪

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>> first chronicles, chapter 12 and versus 32 speaks of the sons of isacar who were men who understood their times and what to do about them. the set man for this hour at this time is a man who understands his time and what to do about them. there is no need really for an introduction, but i would share a personal story that when i was pastoring my first church as a young pastor, reverend sharpton invited me into the family of the national action network, allowed me to serve on his board, and give me a front row to his work in leading the civil rights movement. i want to say this without any fear of contradiction. he is the hardest-working civil

rights leader of our time. come on! come on! i have watched him in these moments minister to families were experiencing what mrs. and mrs. wells are dealing with now. and not just show up and share the eulogy, but he's continued to walk with these families, over the weeks, the months, and the years ahead. but i think it is important for me to set the record straight. so many people erroneously think that reverend sharpton has to chase the cameras. let's clear, he brings the

cameras with him to shine a light on the injustice that's happening in our nation. and so we are blessed today as we celebrate the life of tyre nichols to hear a voice of our time, and i would that we would all stand to our feet and welcome the president of the national action network and our eulogist for this service, the reverend al sharpton. come, put your hands together and receive the celebration choir.

♪ ♪ in this walk, we face many battles, but they're not yours ♪ ♪ they belong to the lord ♪ ♪ so put on the honor of god, delight yourselves in his word ♪ ♪ don't it's too late to give --

don't give up the fight ♪ ♪ so be encouraged, my brother ♪ ♪ hold on, my sisters ♪ there's a way of escape for you and for me ♪ ♪ be strong, stand on his word ♪ ♪ god has promised to fight everyone, your battles ♪ ♪ so don't you give up the fight ♪ ♪ it's too late to give now ♪

♪ don't, don't give up ♪ ♪ don't give up the fight ♪ ♪ where he gave his life for you and me. so dry your eyes ♪ ♪ and don't you cry ♪ ♪ everything, everything's gonna be all right ♪ ♪ fight on ♪

♪ fight on ♪ fight on ♪ ♪ fight on ♪ ♪ fight on ♪ ♪ fight ♪ ♪ fight through the pain ♪ ♪ ♪ fight with your life ♪ ♪ fight when you're down ♪ ♪ fight through your tears ♪ ♪ right through those fears ♪ ♪ we've already won the battle, just fight on ♪

♪ fight on ♪ ♪ ♪ fight on ♪ ♪ fight on ♪ ♪ we've already won ♪ ♪ the lord is by your side ♪ ♪ everything is gonna be all right ♪ ♪ you have to fight on ♪ ♪ yes ♪ ♪ fight on ♪ ♪ god is with you ♪ ♪ he's with us ♪ ♪ god you're right here with us, oh, yes you are ♪ ♪ we've got to fight on ♪ ♪ we've got to fight on ♪ ♪ fight on ♪ ♪ yes ♪

♪ fight on ♪ ♪ fight on ♪ ♪ fight on ♪ ♪ fight ♪ ♪ fight on ♪ ♪ fight on ♪

>> you may be seated . giving honor to god, to our pastor, reverend jason, lawrence turner, to all the clergy, our public officials and to most of all, the family of tyre nichols let me say that we're blessed to have a young pastor who has

labored in social justice and prophetic vision. and who immediately said, to let us celebrate tyre here at this great church. people like jason turner are not born in the ministry every day. a lot of ministers show up when the cameras show up. and leave when the cameras leave. but he's been with us for many years. and he's a great giant in his own right. give a hand to reverend jason turner. >> let me also say that i want to recognize there are other families that have come from

around the country that know what mr. and mrs. wells is going through and all of the siblings. and i want them to stand and be recognized, because they know what it is to sit at a funeral like this. and, i know the family of george floyd is here. stand up. brandon, the family botham john's sister is here. the mother, philonise and kiki is here of the floids. there's botham john's sister and the mother of eric garner from new york is here. the mother of breonna taylor, tameka palmer is here.

there may be others that i did not have the note for. i want the family to know they've come to be with you on this day, from all over the country. and we thank from the white house, the president talked to the family, but sent a delegation led by the former mayor of atlanta, who now is running policy and social engagement in the white house, mayor keisha lance bottoms. the head of infrastructure, the infrastructure czar of the country, former mayor of new orleans, stand up, mitch landrieu is here.

the fighting congresswoman from houston, texas, sheila jackson lee is here. and my friend and brother, the congressman right here from tennessee, congressman steve corn is here. many years ago, there was a controversy in california and there was one that stood up for justice and i watched them grow as they fought and took a balanced and principled stand, supporting what was right, even when wasn't popular. and they grew from one office to

another, every office they ran for, they predicted, you couldn't win. the political polling told them that they couldn't win. and they kept beating the polls. and they told her, she shouldn't be here today. but the snow backed up. and she's here. the vice president of the united states, kamala harris. [ applause ] >> i was going to be polite about it, but since y'all stood up and clapped so long, wouldn't it be nice for her to share a few words with us?

>> come on. come on up here so they can see you. [ applause ] >> good afternoon, church. reverend sharpton, i want to thank you for all you do for so many. there are so many families here that have been personally touched by your leadership and your strength and your fellowship. reverend dr. lawrence turner, thank you for welcoming us. keisha lance bottoms, mitch landrieu, we're here on behalf of the people of our country and our president, joe biden. and we are here to celebrate the life of tyre nichols mrs. wells,

mr. wells, you have been extraordinary in terms of your str strength, your courage, and your grace. and we mourn with you and the people of our country mourn with you. and i just -- i'm going to be very brief. mothers around the world, when their babies are born pray to god when they hold that child for the rest of his life. yet, we have a mother and a father who mourn the life of a young man who should be here

today. they have a grandson who now does not have a father. his brothers and sister will lose the love of growing old with their baby brother. and when we look at this situation, this is a family that lost their son and their brother through an act of violence at the hands and the feet of people who had been charged with keeping them safe. [ applause ] and when i think about the courage and strength of this family, i think it demands that we speak truth, and with this, i will say this violent act was not in pursuit of public safety.

it was not in the interest of keeping the public safe because one must ask was not it in the interest of keeping the public safe that tyre nichols would be with us here today? [ applause ] was he not also entitled to the right to be safe? so when we talk about public safety, let us understand what it means in its truest form, tyre nichols should have been safe. so i'll just close by saying this, i was as a senator, as a united states senator and co-author of the original george floyd justice in policing act, and as vice president of the

united states we demand that congress pass the george floyd justice and policing act. joe biden will sign it. [ applause ] and we should not delay and we will not be denied. it is non-negotiable. and with that, pastor, if you don't mind one of my favorite verses and scripture is luke, chapter 1, verse 79, which tells us god will help us to shine a light upon those who sit in darkness and in the shadow of death to guide our feet in the way of peace, let our memory of tyre shine a light on the path toward peace and justice. thank you. [ applause ]

>> vice president kamala harris. [ applause ] i want you to turn your attention very briefly to the 37th chapter of genesis. it reads, so joseph went after his brothers and found them near

dothan, but they saw him in the distance and before he reached them, they plotted to kill him. here comes that dreamer they said to each other, come now, let's kill him and throw him into one of the cisterns and say that a ferocious animal has devoured him. may god add a blessing to the reading of his word. early this morning before dawn, i did what i often do when i come to memphis, i went out to the lorraine motel.

as a youngster i joined operation breadbasket, i had been aboard preaching the church of god in christ and my mother was concerned when i was 12 that i was getting too involved in looking at activism and adam clayton powell and others and took me to my bishop, bishop washington who said i know what to do with him and he brought me to reverend williams jones who led dr. king's organization in new york and refsverend jest cy jackson and when he died i was 13 and became youth director of the chapter in new york. so it was my growing up in the king movement in the north after his death that makes me come to the lorraine hotel and look at

the spot that dr. king died. this morning i took my youngest daughter ashley with me and in all of the ice i told a story of how dr. king had came to memphis to fight for garbage workers, city employees that had no safety, two had been killed with a malfunction and here we are, ashley, 55 years later, looking at the balcony where martin luther king shed his blood for city workers, for black city workers to be able to work in the police department, work in sanitation and the reason why mr. and mrs. wells what happened

to tyre is so personal to me is that five black men that wouldn't have had a job in the police department would not ever be thought of to being an elite squad in the city that dr. king lost his life, not far away from that balcony, you beat a brother to death. there's nothing more insulting and offensive to those of us that fight to open doors that you walked through those doors and act like the folks we had to fight for to get you through them doors. [ applause ]

you didn't get on the police department by yourself. the police cleave didn't get there by herself. people had to march and go to jail and some lost their lives to open the doors for you and how dare you act like that sacrifice was for nothing. you ain't in no new england state. you in tennessee. where we had to fight for you and you take that position. and do what we saw and then some of y'all got on this mess on social media let me tell you

something, i don't know what you writing on social media. i know what i saw on the tape. and the tape speaks for itself. they never asked this man for his license. never asked for the car registration. snatched him out of the car and began beating him. nobody mentioned nothing about no girlfriend. nobody mentioned nothing about no -- they started beating an unarmed man.