for more news, download our abc news app on your cell phone or connected tv. it's wednesday, june 15th, 2022. this is the "cbs morning news." economic anxiety. all eyes on the federal reserve as it considers a historic increase in interest rates to deal with re infla yellowstw after staggering rainfall ow >>x abuse coup. onve agrees to major changes following a bombshell investigation. well, good morning, and good to be with you. i'm anne-marie green. we begin this morning with the latest efforts to control skyrocketing inflation while trying to prevent a recession. later today the federal reserve could announce its largest interest rate hike in almost 30

years. it could very well increase rates by three quarters of a percentage point as it tries to slow down rising consumer prices. naomi ruchim is in new york with the latest. good morning. >> reporter: anne-marie, good morning. jittery investors are awaiting tht announcement on interest rates today, and new this morning president biden has issued a letter to oil companies asking them to do their part to help lower gas prices by expanding capacity at refineries. alan greenspan was federal reserve chairman the last time the central bank raised interest rates by three quarters of a percentage point in 1994. today powell and governors could deal with inflation close to 40-year highs. >> if they raise rates by too much or too quickly they run the risk of slowing things so much that we had tip into a recession. right now the fed is in an

unenviable position. >> reporter: with so much economic uncertainty prompted in part by russia's war on ukraine, wall street remains on edge. on tuesday the s&p 500 extended its move into bear territory, more than 20% below the broad market index's january record. >> put america in position to tackle a worldwide problem that's worse everywhere but here -- inflation. it's sapping the strength of a lot of families. >> reporter: rising prices for housing, food, and other essentials like gas are making it hard for americans to make ends meet and raising recession fears. >> as a family we will be focused on our spending and our saving. hunkering down. >> reporter: in san antonio, texas, kyle green says record gas prices have him taking the bus for now. >> i save a lot of money like not getting on the road, i'll say that. >> reporter: this past weekend, gas prices hit more than $5 a gallon for regular on average nationally for the first time ever according to aaa and remains there today.

meantime, a new "washington post" poll finds nearly nine in ten americans have started bargain hunting for cheaper goods. nearly eight in ten are cutting back on eating out and entertainment. lawmakers are now considering bills that would lower the cost of childcare and prescription drugs, but republicans argue pandemic stimulus money is already contributing to inflation. anne-marie? >> naomi ruchim in new york. thank you very much. the fda advisory board will meet today to consider recommending pfizer and moderna's covid vaccines for children under 5. the same panel endorsed moderna's vaccine for kids ages 6 to 17 yesterday. the fda has already authorized pfizer's vaccine for that group. government regulators held up moderna's vaccine for months while it investigated a rare heart inflammation side effect. the advisory panel says that it is safe and effective. and breaking overnight, two california police officers were

killed in a shoot-out. there were -- they were investigating a possible stabbing in a los angeles suburb yesterday. authorities say the officers from el monte police department were ambushed immediately after arriving at a motel. investigators say the suspect was also shot and killed during the exchange of gunfire. one officer served for more than 22 years. the other was a rookie with less than a year on the job. and senate negotiators working on bipartisan gun legislation say that they could be done writing a bill by this week. the measure received a major boost yesterday when minority leader mitch mcconnell said that he supports it. majority leader chuck schumer has pledged to bring the bill to the senate floor as soon as possible. it comings as a solemn ceremony was held in buffalo a month after ten black people were shot to death in a supermarket. natalie brand has more. >> reporter: survivors, families of victims, and community leaders gathered near the tops supermarket in buffalo where ten

people were gunned down in a racially motivated massacre one month ago. >> an outsider with hate in his heart indoctrinated in the ways of white supremacy opened fire and killed ten precious and innocent people. >> reporter: tuesday also marks three weeks to the day that the massacre at robb elementary school killed 19 children and two teachers in uvalid, texas. just two of many mass shootings that have spurred senators to a breakthrough on a bipartisan gun deal. >> i think it's progress for the country, and i think the bipartisan group has done the best they can to get total support. >> reporter: the agreement does not include provisions democratic lawmakers have pushed for including raising the age to purchase assault weapons, but it would include enhanced background checks on those under 21.

>> we need to know before somebody walks in and buys a firearm when they turn 18 what their mental health and criminal record history looks like to the extent feasible. >> reporter: negotiators acknowledge they're far from the finish line. they now must write the bill and pass it before the compromise hits any snags. >> i recognize that when you get down to the drafting, you can get to offsets. there could be additional issues raised. i would hope we get it done by no later than the end of next week. >> reporter: at least ten republicans have so far signaled their support which would be enough to pass the senate. house democrats have signaled their support, as well, even though it falls far short of gun-control measures passed last week in the house. natalie brand, cbs news, capitol hill. more than 10,000 visitors were forced to leave yellowstone park as unprecedented flooding closed the nation's oldest national park.

days of torrential rain and runoff from melting mountain snow washed out roads and bridges. floodwaters damaged and destroyed nearby homes including ones in southern montana. people had to be rescued when they were left stries, too. they're just pulling out my r, do >> officials say the park could remain closed as long as a week. amazingly there's been no reports of anyone injured or killed. the nation's largest protestant denomination is making changes three weeks after a blockbuster report about sex abuse. yesterday the southern baptist convention voted overwhelmingly to create a way to track pastors and other church workers credibly accused of abuse. the report from an out consult ant revealed church leaders mishandled abuse cases and stonewalled for victims for years. coming up, an elephant's rights.

the court rules in the case of a zoo animal which some argue is being illegally detained. later, a dressing down. why kim kardashian is accuse the of damaging a piece of history after wearing marilyn monroe's iconic gown. this is the "cbs morning news." why. >> keyshawn: -- why croatia is accused of steeling a gown. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire (vo) we made a promise to our boy blue- that we would make the healthiet foods possible... with the finest natural ingredients and real meat first. and that's our promise to you and your dog or cat. because when you love them like family you want to feed them like family. ♪ ♪ gillette presents the gillettelabs with exfoliating bar - a razor designed to take the hassle out of your routine, for an effortless shave in one efficient stroke.

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ghirardelli intense dark. ♪♪ ghirardellbold...se dark. rich... intensely delicious dark chocolate. ghirardelli intense dark. makes life a bite better. russia is extending its detention of wnba star brittney griner to at least july 2nd according to a state-run russian news agency. the 31-year-old american basketball player was detained at a moscow airport in february. russian authorities said that she -- they found vape cartridges containing cannabis oil in her luggage. the u.s. state department says it is doing everything it can to seek a prompt release. a court has issued a ruling in a battle over an elephant's rights, and why the taps went dry in a city in texas. those are some of the headlines on the "morning newsstand."

"the fort worth star telegram" reports a water main break was left -- has left, rather, the west texas city of odesa without running water. a 24-inch line broke affecting 165,000 customers. the mayor declared a state of emergency as crews worked to repair the damaged main. the temperature hit 100 degrees yesterday, and officials passed out water bottles. businesses and schools remain closed, and the water's not expected to start flowing again until sometime today. >> we live in this community, we serve in this community, and all of our families are out of water, as well. we want to get this completed as federal government as we can, as well. >> the city warned the few customers who still had water to boil it for safety. "the washington post" says the house overwhelmingly passed a bill to bolster security for supreme court justices and their families. it comes after an armed man was arrested outside justice brett kavanaugh's home last week and charged with attempted murder. the senate passed the bill last month after a draft opinion was leaked indicating the court is getting ready to overturn

abortion rights. the security measure now heads to president biden's desk. and "the new york times" says a court ruled that an elephant named happy is not legally a person. the court rejected an animal rights organization's argument that the elephant should be considered a person and is being illegally detained at the bronx zoo in new york. the group wants to be -- wants it to be transferred to an elephant sanctuary. e zoo says that she is well cared for by experienced professionals. still to come, playing "squid game." how you can take part in a new reality competition series inspired by the hit netflix show. inspired by the hit netflix show.

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a gas station manager in california made a tiny mistake that cost big money. john sezina accidentally put a decimal in the wrong place when setting the gas prices, so the $6.99 gas started selling for just 69 cents a gallon. customers took notice and guzzled it up. the blunder reportedly cost the gas station $16,000, and the manager his job. >> put all three prices on there except the diesel. but the last one didn't go, you know, right. i just took responsibility for it, and i said, yeah, it's my fault. >> his family started a gofundme page for him to help pay the gas station back. there's a safety warning for some products, popular infant products, and netflix is giving you an opportunity to compete in a real life "squid game" competition. matt pieper has those stories

and more in today's cbs "money watch" report. >> reporter: infant rockers, and there's millions out there, may be doing more harm than good. federal safety officials are warning against using them for sleep citing at least 13 deaths linked to products made by fisher-price. the product safety commission says the deaths between 2009 and 2021 involved fisher-price rockers. the company has sold more than 17 million worldwide since the 1990s. the agency says parents and cregivers should never use inclined products including rockers, gliders, soothers, and swings for infant sleep. no more exploring on internet explorer. microsoft is shutting down the browser that's been around for 26 years. beginning today, those who try to open the application will be directed to microsoft edge, the company's newer browser. the "wall street journal" reported that as of this month,

only .28% of people surfing the web still used explorer. and netflix is now planning a "squid game" reality show with a big cash prize and no fatal consequences. in the south korean-produced drama, players' lives were at stake. not with this competition in which there's a $4.5 million prize. that's your cbs "money watch" report. i'm matt pieper, cbs news, new york. one of the most iconic gowns in american fashion may now be damaged. a marilyn monroe checker is making the claim after kim kardashian wore the dress last month. the collector says there are missing crystals and several rips along the zipper. monroe wore the dress while singing "happy birthday" to president kennedy in 1962. there's no comment yet from kardashian or ripley's believe it or not who lent the dress to kardashian. up next, new moves for boy band bts. members of the pop super group

announce plans for their future. . ♪

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last night people in north america we t here's a look at weather in cities around the country. ♪

♪ fly me to the moon let me play among the stars ♪ last night people in north america were treated to a strawberry super moon. the full moon was at its closest point to the earth according to nasa and appears slightly larger. according to the farmers almanac, it was named the strawberry moon because it happens during harvest season for strawberries, of course. the next super moon is july 13th. pop band bts is taking a break as a group at least for now. ♪ fresh off their newest single "yet to come," members of the group said they will pursue solo projects. yesterday bts celebrated the nine-year anniversary of their debut release. no word on how long the pause will be, however bts says it is not breaking up. and big news this morning involving two of the upcoming grand slam tennis tournaments.

the u.s. tennis association announced that players from russia and belarus will be allowed to compete in this year's u.s. open. the group said that it did not want to hold these individuals responsible for what is happening in ukraine. the players have been banned from participating in wimbledon. and speaking of wimbledon, serena williams will be back on the grass court. the seven-time wimbledon champ won one of the wild card entries for singles. williams hasn't played since getting injured last year. the tournament starts june 27th. and coming up on "cbs mornings" now, "handmaid's tale" actress samira wiley stops by to tell us about her new documentary "the gratitude project." i'm anne-marie green. this is the "cbs morning news." " i'm anne-marie green. this is the "cbs morning news."

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our top stories this morning -- in an effort to control skyrocketing inflation, the federal reserve could announce its largest interest rate hike in almost 30 years today. it could very well increase rates by three quarters of a percentage point. investors concerned about inflation and a possible recession sent the s&p 500 deeper into a bear market. and an fda advisory panel mes datoy to consider recommending pfizer and moderna's covid vaccines for children under 5. yesterday the group approved the vaccine for children 6 to 17. the fda has authorized pfizer's vaccine for that age group. colleges in the u.s. are facing a decline in enrollment. among the factors the pandemic

and soaring costs. one school in georgia is trying something different. mark strassmann explains. >> reporter: hey sneaker heads, for a class in sneaker design -- >> you got time, it's cool. >> reporter: or to shoot a virtual commercial in the arctic -- >> can you feel this is real? >> reporter: head to scad, the savannah college of art and design. >> not a lot of people when they're applying for a beauty marketing job can say they majored in beauty and fragrance in college. >> reporter: something's work at scad where design meets technology. 15,000 artistic students. enrollment was up 9% last year. >> we're very oriented toward invention, more so than tradition. >> reporter: how often is the curriculum critiqued and updated? >> more than once a year. >> reporter: most popular makers -- majors -- animation, filmmaking, and fashion. sneaker design is now a minor

here, in a curriculum progressing nimbly and engaging employers. >> what are you looking for when you hire for students that are coming out? >> reporter: scad claims students have a 99% employment rate within ten months of graduation. >> no starving artist at scad. >> reporter: no starving artist. how is that? >> you know, creativity is really about invention that's relevant. we don't teach anything that you can't get a good job in. >> reporter: scad has an entire school dedicated to business innovation. >> our students want to work at disney, google, l'oreal, and those businesses want to hire, and they do hire from scad. >> reporter: employers now circle. scad graduated more than 3,200 students this month. mark strassmann, cbs news, atlanta. well coming up on "cbs mornings," we'll speak with energy sre granholm about when americans could see some relief from record high gas prices. plus, in "changing the

game," we'll meet a pair of army wives who became entrepreneurs and are empowering other military spouses. and "the handmaid's tale's" samira wiley talks about her documentary "the gratitude project." that's the "cbs morning news" for this wednesday. thanks for watching. i'm anne-marie green. have a great day. ♪ have a great day. ♪