so as we come on the air, the empire state striking back. donald trump now responding to that huge lawsuit coming from the new york attorney general, with the trump team basically saying hey, it amounts to nothing. letitia james says it is not nothing, it is a sprawling $250 million scheme to defraud taxpayers and others. this hour, we've got the immediate implications for the trump family and their business, and whether any referrals for federal criminal charges could go anywhere any time soon.

we've got our correspondents and legal team here standing by with new reaction from some trump allies. also this hour, check out the big board. the markets, wall street reacting pretty well to thats into just out from the fed, and another interest rate hike on the way, to try to get a handle on in place. is this? or will there be more hikes to come? we will talk about all of it. plus an nbc news exclusive debuting here this hour, stacey abrams one-on-one with our blayne alexander, early voting now just days away, in georgia, what she is saying about the state of her race as polls show her falling further behind brian kemp. a lot to get to in the next 60 minutes. i'm hallie jackson, along with tom winter, ron allen in new york, and business investigations reporter david enrich is with us, a new book out "sefrtds of the damned" and care line polici and former federal prosecutor and msnbc

legal analyst paul butler. let's get to some of the questions at 3:00 eastern, 12:00 pacific, the reaction from donald trump himself and number two, our team working the sources and what it means to the southern district of new york and what it could mean, and number three, looking ahead to the legal implications for the former president and his adult children. and we have the attorney general who wants mr. trump and his businesses to pay back $250 million, that they say he got illegally by inflating his assets. assets like mar-a-lago, which they say was valued at more than $700 million more than they think it is actually worth. ten times more. as far as value. his building on park avenue. 50 million more. his seven springs property in westminster, the list goes on. including valuing his trump tower apartment at more than any apartment in new york has ever sold for.

the attorney general says that could have broken federal law, which is why she made those referrals to sdny and the irs. mr. trump on truth social is calling the attorney general racist and casting it as a witch hunt with serious penalties now for the former president and ivanka, eric and don jr. let me start with the penalties. james is not formally asking to have the trump empire dissolved but could they don't facto be the end of the trump org as we know it? >> i think so, halle, potentially because the consequences are very steep for the trump family. and based on what we know about the trump organization. and it really acts like a large family company. there are consequences and there are penalties. let's start with the consequences, you kind of referred to it earlier, this idea of criminal referrals, to the u.s. attorney's office for the southern district of new york, as well as to the irs, both offices declining to comment, and both saying that they're aware of those criminal referrals, as far as penalties, you touched on it, the big one, $250 million disgorgement,

essentially saying, look, you benefitted to the tune of 250, we would like that back, we will take that from you, but there's some other potential penalties here, that could speak to your original question, which is what does this mean for the future of the trump organization. on top of the fact that the trump family essentially couldn't be officers of any corporation in new york period forever. there comes the additional idea that they could not apply for a loan after, for a period of five years, excuse me, if a judge agrees with that, to any bank registered with the new york department of finance, which is just pretty much every bank. so it remains to be seen, the long term impact of that, and of course, all of that follows, it will surely be years of litigation back and forth on this issue but it could have a real impact on the trump organization, and for the trump family, in their ability to gain financing as we move forward here. and it is something we will have to watch very closely. >> tom, stand by for a sechlkt because we're getting some

reaction from the former president on his social media platform, and his attorneys, and some reaction that falls in line with how he's feel from some of his allies on capitol hill and beyond. tell us about it. >> i saw an email, a fundraising email, from the president, and so will is that, the former president, so there is that as well. yes, they're casting this in purely or mostly political terms, in tweets and on postings on truth social media, pointing out that letitia james is in a re-election campaign and that the election is less than 50 days away, and on capitol hill, yes, we are hearing from some republican senators who are saying things that are somewhat supportive or echoing what mr. trump and his adult children are saying, for example, lindsey graham saying, ask me if it's political, i think everything she is doing up there, meaning letitia james, is political, and most republicans, but time will tell. and senator rick scott is

saying, i think the election is going to be on inflation, about schools, parents rights in schools and not things like this, essentially. ms. james, you can almost anticipate this criticism, emphasizing that her case is about documents, it's about statement, financial statements by the trump company that mr. trump, she says, was able to sign off on himself. even while he was president. talking about political terms, using the expression, about the art of the deal, and it is the art of the steal. and i'm sure to some extent they have been able to try and separate this, and what mr. trump says about everything that happens to him, of course, that it is a, it is a legal problem that he finds himself in, a political problem he finds himself in, and we will see how this is going forward. but again, the attorney general is making a point that this is about documents, this is about statements, it's about statements that were apparently or allegedly inflated

significantly, astonishingly, is the word she used so that's what they're going to say, the attorney general, while mr. trump talks about witch hunts and so forth. >> ron allen, outside trump tower of course, thank you, tom. let me go back to you and some reporting here, one of the key pieces we talked about, as we look ahead to what is next is, this idea that she believes, letitia james believes that there were federal criminal laws that were broken here, which is why she made this referral to the irs and to the southern district of new york. what may come of that, and when, if anything. >> and that's an ultimate question now, and of course, michael cohen, who she says it was his testimony before congress in february 2019 that helped spark her inquiry, and meaning this has been going on now for several years, and was the one that sparked her inquiry and we know he went before federal prosecutors in the southern district of new york tied to some campaign finance violations and payments to two women who say they were paid to be quiet leading up to the 2016 election for their alleged affairs with the former president, is part of that, and

part of his cooperation agreement, with both the special counsel's office and sdny, he spoke with them and sdny said they had concerns about cohen's credibility, based on their discussions, so it will be interesting to see now, going forward, do they take a look at this, is this all information they've referred before that maybe just doesn't fit within the confines of federal criminal statutes? is this something we're in the course of this investigation, and we have to remember that the manhattan district attorney's office, which fought on two occasions and one to get the former president's tax returns of underlying tax documents, did that have something to bear in this investigation, by the attorney general's office, that they had been working with throughout the course of it, hallie, so is that something that federal prosecutors in manhattan haven't been able to get their hands on before? if so, could that factor in any further inquiry or is information coming up over the last several years, as things happen, during the course of investigations, and they could also help them out, and what will be interesting to see, is

if there's any sort of outward subpoenas or hear about anybody being called before a federal grand jury. but let's be clear, that's not today, tomorrow or any time probably soon. they will probably want to way exactly what the attorney general has come up with, and then determine if there is an avenue forward for them, before we hear anything else. >> and let's just make the point, tom, that i think folks know it, but to be super clear about it, this is civil, not criminal. if in fact this lawsuit, nobody goes to prison. even if this all turns out how letitia james wants it to. >> let me bring you in, carolyn, along with the legal analyst team and let's pull up the map of all of the different places the attorney general has cited here and how strong is the evidence that she has put forward, in your view. >> that's right, she has not made any secret of the fact that donald trump has been in her cross-hairs for a while. and in fact, she opened herself

up to criticism and that's trump's whole defense, this is a malicious prosecution, she has been selective in prosecution, and people in real estate has done this for years and years, and it is wishy-washy on the valuation of assets, however not until today have we really seen the ag's office put its money where its mouth is, this complaint is 280 pages long. it is a documents case. it is very powerful evidence at a trial, when it temporally shows at one instance, a property is valued for one value one time and a different one at the same time, you know, for purposes of obtaining benefits, really and so she has really laid it all out here, in stark detail, and you know, this is a bad day for the trump organization and for donald trump. >> it's not as though we're there were not clues to this, or at least bread crumbs dating back years now, paul, because

you heard the new york attorney general cite michael cohen, who is very familiar with the trump organization and was very aware testifying to congress of some of the practices she had been laying out. >> did the president provide inflated assets to insurance companies? >> yes. >> was the president interested in reducing his local real estate bill, tax bills? >> yes. >> and how did he do that? >> what do you is you deflate the value of the asset and then you put in a request to the tax department for a deduction. >> given the evidence, given what we know that the attorney general has laid out, what is the time line here, paul? how fast or not does this process move forward? >> so as we have already noted, this is civil litigation, not a criminal case, so even if the new york ag gets everything she wants, nobody is getting locked up. the advantage though of a civil case is that there's a lower

burden of proof so it takes less for the new york attorney general to win, and also the fact that trump and one of his kids took the fifth amendment more than 500 times, in their depositions, could be used against them. and the same way that the january 6th house panel laid out a road map for the department of justice, prosecutors, letitia james has now provided a road map for state and federal prosecutors, on bank fraud, insurance fraud, tax crimes, and a criminal trial here, hallie, would be based on documents, so michael cohen's testimony wouldn't be as important. prosecutors love document kapss for that reason. they don't have to rely on witnesses, documents don't lie, so now, the ball is kind of back in the manhattan d.a.'s court. >> from a business perspective, david, how account trump organization survive this lawsuit? what does that look like?

and i wonder, does it matter that the loans in question here, the lawsuit is referenced, et cetera, have been paid back? is that a factor? or is that irrelevant? >> you know, i don't know from a legal standpoint, i think from a business standpoint, that is important, because trump is now, it has been true for years, but he is especially now, essentially cut off from the mainstream financial system, as a result of his repeated defaults and bankruptcies, and the reputation, a well-earned reputation, that he developed over the years, for not playing it straight with the companies that he operated with, and the banks that he operated with, the law firms that he operated with, the list goes on, and so i think the trump organization right now finds itself probably in the worst shape, and in the greatest peril that it has ever been in, and i don't know if it continues to survive, but i do know the bread and butter of this business over the years has been its ability to borrow money relatively cheaply, through

major financial institutions, and that is something that has zero chance of that happening these days. >> it also speaks to this lawsuit cutting to the core of the political persona that the former president has presented, pretty much his entire adult life, it is what rocketed him to fame, on television, the idea that he is a rich and successful business man. it is part of the platform that he ran on, in 2016, when he took the white house. and to the point that you're making here, the lawsuit from letitia james calls this piece of the trump empire, if you will, into question. >> yes. and there's absolutely no, to the example of whether there was any doubt whether trump was exaggerating the value of his assets and the amount of his wife, those questions have been pretty well erased. what has been interesting to me, speaking to a lot of deutsche bank executives over the years, the primary lender and one of the alleged victims in this fraudulent scheme that letitia james outlined, i think maybe

well all along that trump was exaggerating his finances, and you know, they applied, they discounted it in, as they made decisions about whether or not to lend him money, and so it has been obviously an open secret over the years that trump has a penchant for exaggeration and not the first time that penchant for exaggeration has been brought to bear from a law enforcement standpoint. so i think it will be interesting to see the types of defenses that trump makes, that maybe everyone knew he was league but i agree with you, that it really erodes this public image he has crafted as a self-made billionaire. >> two final quick questions. newt gingrich has spoke within my colleagues here at nbc news, peter nicholas, a trump ally of course, and the way the game is played in new york, it doesn't strike me that most americans will be shocked that trump is realtor and ruthless and had sharp elbows and that is something that is put forward by

allies in the court of public opinion. how does that play as an actual legal defense. >> new york is a tough market and everyone was skirting the rules to do what they could. >> everybody tries to make that argument, hallie, and it is legally, it's, it doesn't work. this is the type of case that just screams out for a settlement. it usually gets settled quietly and quickly, and letitia james made it clear that her door is always open. she did note that there was a settlement offer made by trump, and we're talking about $250 million. and they would have to get pretty close to that number, along with a lot of other things in place to make sure it never happens again. >> let's remind people, this is one of a series of legal issues that the former president faces. you have, this is civil again, but you do have a criminal investigation, by the department of justice, into these classified documents, at mar-a-lago. you have the criminal investigation by the accident of justice into his push to

overturn the legitimate results of the 2020 election. you have an election interference investigation that is criminal in georgia. from the fulton county district attorney. and then of course whatever is happening with his tax and fraud investigation from the manhattan district attorney. we know that, we believe, because it has been reported, some ofs that been put on the back burner but there is a trial moving forward now in some of the tax charges. paul, the legal troubles for donald trump are not going away any time soon. >> it's an embarrassment of riches for federal and state prosecutors. in this case, trump's immediate defense is to say that ag james is a racist, he's made those same kind of comments against other black prosecutors, including the manhattan d.a., and the atlanta d.a., and the case goes to trial, if the case goes to trial, i think he will blame lawyers and accountants and say they prepared the financial staples and none of that is technically a defense, and any of the trump strategy with regard to litigation, it is

to try to draw it out to the last minute and then to settle and there is a history here, the new york attorney general's office, took down trump's big charity, they took down his fake university, and now, they've got, in their cross-sights his organization, and i think trump is probably walking quite fearfully right now. >> thank you for all of your analysis and perspective. appreciate it. a lot more to get to on the show, including berm za in the cross-hairs with the hurricane getting stronger. we're live in port row rico, as that island tries to restore power. and president putin blasting the war in ukraine and we will find out what ukraine president zelenskyy is saying. and the fed raising interest rates now for the fifth time this year. trying to get a handle on inflation. we'll talk about how this affects you, and how the markets are reacting and more in just a minute. e reacting and more in j minute ♪ ♪

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right now, no real big moves on wall street, after the news that the fed is again going to raise interest rates by three quarters of a percentage point to try to get a handle on record high inflation. we just heard this from fed chair jerome powell in maybe the last hour or so as we're coming on the air, with jerome powell saying it is not the last time. >> we have got to get inflation behind us. i wish there was a painless way to do that. there isn't. so what we need to do is get rates up to the point where there is putting meaningful downward pressure on inflation. >>s what do it mean for you? it means rates may go up even more on credit cards, and any new or adjustable mortgage, new car loans. if you already have a mortgage or a car loan or a federal student loan, you won't be affected by this. let me bring in stephanie ruhle, and senior white house

correspondent kelly o'donnell. not surprising that the interest rate has raised interest rates again and jerome powell is previewing more interest rate hikes down the road. when does it end? when does it get better? when does do we find the soft landing? >> when does it get better? that's a tough question. we have to keep raising rates, why? because inflation is so high and it is uncomfortable to spend more money to borrow and that's what happens when rate goes up, the most important thing, the top priority for the fed is to get inflation under control. and right now, it is still running really hot, and they only have one main lever and that's to raise rates to cool it, and thus far, it hasn't completely done the trick. so they're going to keep doing it, and for those of us out there who want to buy a flew home, who want to get a new car, and need to finance it, it is going to get more expensive. >> kelly, from the white house perspective here, what happens if the economy, is tied into

what happens politically, as the midterms here, what are you hearing from sources on how this is playing out? >> this was expected, and of course, the president has done a lot to say that it is the responsibility of the federal reserve, to manage monetary policy, and to do this kind of intervention in the economy, to try to cool things off. and what he has tried to do from a policy perspective, legislatively is, to take steps to try to reduce people's outlay of cash, in other ways, where we point to the inflation reduction act, which some people say is proach -- appropriately named and some people say it is not, to point to some ways to see reduction in expenses people will have for health care or some benefits they will have, if they have energy efficient products that they purchased, to try to reduce some of their monthly outlay. >> and that's the kind of thing the white house can do. they have also looked at ways to try to reduce gas prices. but the president's economic

stewardship is judged by the american people on a day-to-day basis. and his ratings in that area have really tracked along with inflation, with gas price, and of course there will be a big way to determine what the public feels about this come november. so as you well know, the federal reserve is separate from the white house. they don't interfere with what the fed is doing. even though the president appoints the chairman and so forth. but this is the kind of thing that they want to see inflation come down. the president has been questioned about inflation. and has said it's been fairly stable, and talking about that soft landing where they want to have some reduction in inflation, in a way that's not too jarring to the economy, and it is going to, the job picture is still strong. >> kelly o'donnell, stephanie ruhle, thanks to you both for that. still ahead, hurricane fiona, a category four storm heading to berm a -- bermuda and

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which is now picking up strength as a category four storm heading to bermuda. it has still been raining on puerto rico, making it harder to clean up on the island, with millions still with no power, no running water, and nbc news correspondent ellison barber is there. take us on the ground with you. >> yes, in some ways, there's a bit of irony to the rain stopping, and some ways one would think that that leads to relief, and cleanup efforts, it certainly helps, but for other people, that is how they were collecting water to use in their homes because they do not have running water. let me show you some of where we're at right here, we're literally up on the side of kind of an inbank on the side of the highway and there is water that is trickling down this water, this is rain water, condensation, that comes through this area. what people have done here, watch what they've done it this morning, people in this area have literally constructed a pipe system using coke bottles, and just pipe, pvc pipes they've found along with electrical

wires to tie this together to make it fill up canisters of water to take home so they can shower and wash their clothes and wash dishes and use it to drink. we were talking to a man a little while ago filling up buckets and getting frustrated because he feels that they should not be in this position at all. and feels like the power companies here have failed the people of this island, as well as the government. and listen to what he told us. >> we get nothing. the government has done nothing from maria. and they have done nothing with the money. especially for maria. and now we have this. i don't have faith in the government. we have to make our own way. ourselves. that's what we do. >> so this is another one of the kinds of makeshift pipes that people are using to get access to water, this one we've been

told is one that people used during hurricane maria. that other one, the one that was built today, the governor as you mentioned at the beginning, he has been out surveying the damage, but most of the people we have spoken to, they are frustrated, and they are scared, because while the power company and officials say that they expect to have the power back on, but it will likely take a few days, and they talked about the difficulty accessing some of the downed infrastructure that they need to repair, because of the destruction from the storm. and the people we have spoken to, they say they are not confident it will be done in a timely manner, because they feel like again, none of this should be even be necessary right now, because they feel like changes should have already been made, particularly post-hurricane maria. >> thank you. coming up, the capital police officer on the stand as we speak, in the trial of a q-anon supporter who chased him around the capitol january 6th. we'll tell you what is happening inside the courtroom with

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♪ ♪ ♪ ♪ . in a dc courtroom, capitol police officer eugene goodman is on the stand testifying in the trial of a q-anon supporter who chased him around the capitol january 6th. the officer was chased up a flight of steps. essentially luring the insurrectionist away from where members of congress had been hiding. the guy leading the charge there, against officer goodman, doug jensen, now on trial, and he is the one in the q shirt, and the attorney arguing in court his client genuinely believed in the conspiracy theory and thought the so-called storm had arrived on january 6th. nbc news justice reporter ryan riley is following this trial. it is so interesting here, ryan,

because i think that is among the most familiar scenes from january 6th, that video, of officer goodman coming up the stairs and we haven't heard much from him publicly at all and what little we have heard comes from court testimony. talk to us about what we've heard so far. >> that's right. a lot of people know about that video shot by our friend igor, but what we learned on the stand and court filings recently that eugene goodman has a whole story preceded what exactly happened in that video, he actually was outside, and he was getting pepper sprayed, and got hit with air spray outside of the capitol before all of this took place. and he also was involved in an arrest, he actually put someone in a police van, because he didn't have as much of a heavy uniform as a lot of the other folks who had harder gear, when he went back out there. he arrived at the capitol on january 6th at 5:00 a.m. and supposed to be posted in the rotunda as members of the house and senate went back and forth as they were going through the

certification process. all of that got scrambled and ended up taking this person in custody and got bear sprayed and described this moment where he is in the capitol crypt, after he is bear sprayed and hit back with some of the pepper spray and the officers have actually sprayed and blew back on him and throwing up in the crypt of the capitol and that precedes the heroic moment where he sort of diverts the crowd from the floor of the u.s. senate, that he received all of the honors from, from members of congress, because of one important moment that was diverting this crowd. so you know, it is just getting us a fuller picture of all that the officer did and was involved in that day, and besides what we know with that video, he hasn't been particularly braggadocious what he went through that day but this is what we're learning he went through, even before the video that we all saw on that, that was shot by igor, hallie. >> ryan riley, thank you for staying on top of that. we will look for more headlines as the rest of the afternoon continues. appreciate it. at the capitol, watching the

house floor, in the next 20 minutes, we expect the speaker there, we expect the lawmakers to vote on an electoral reform bill to stop another january 6th and we're learning one of the house committees right now is meeting to focus on bills on safety and it is happening as early as tomorrow for a vote. we will bring in ali vitali live for us with her and the team's reporting on what it feels like in some ways, a win for centrists ahead of the midterms. talk us through it. >> that's exactly how many of these front line democrats are seeing it. because when you look at what is in the bill, what has allowed these members to do, is some of their more moderate districts is go back and have a counter to the idea that the progressives have pushed on defunding the police and now what this package reform does is the exact opposite which is put funding into several varieties of programs, and i can pull up for you, on the screen, some of the fine points here, provide funding for smaller police departments, that's something that josh scotthimer was in

here, and a violence intervention initiative, funding for more mental health response to allow mental health professionals to be hired and trained for emergency responses, and then a d.o.j. grant program to help police close homicide case, all of this allowing the members to take home to their districts what they have done on this issue at a time when the republicans are trying to make these midterms a referendum on crime and the economy, democrats trying to have counter-measures to them. >> live for us on the hill with the new reporting, thank you. right now, in another investigation, involving former president trump, one of the several that we've talked about at the top of the show, we've got a lot of people watching an appeals court which is considering whether or not to let the d.o.j. get back to work on those classified documents taken at mar-a-lago. you can see that ruling at any time. both donald trump's legal team and the justice department go back and forth with more filings overnight. and here with more is nbc news justice correspondent ken

dilanian. talk to us about the piece of the puzzle and the wait and see mode at the moment until some of the next steps happen. >> right, hallie, so the big question right now is whether the appeals court, the 11th circuit court in atlanta, will grant the justice department that stay, that it is looking for, of judge aileen cannon's order and allow the justice department to start using once again the classified documents that it seized at mar-a-lago in the investigation and prohib the special master from getting his hands on the classified documents. right now the d.o.j. has them segregated in a special room and they're not handing them over. and it made pretty clear even if the appeals court ruled against them, they are going to appeal all the way up to the supreme court, because they feel like they are in the right on this one, and while that's all playing out, you had a hearing, held by the special master yesterday, where he talked to both sides, both the administration and justice department, the special master made clear that he felt like donald trump needs to show some evidence that he declassified

these documents, otherwise he is going to consider them classified because that's how they're marked and that's what the government says they are. so a lot of interesting developments. meanwhile, the investigation, obviously, behind the scenes, it is continuing now. >> ken dilanian, thank you for the update. still ahead, president biden taking a big swipe at vladimir putin, hours after vladimir putin raised the stakes calling for more troops and making a nuclear threat. how is the rest of the world reacting as we await another key speech next hour at the u.n. general assembly? live there next. plus, our blaine alexander is lear with our brand new interview with stacey abrams debuting this hour. we will talk with her about what the candidates said and the bigger picture in this critical governor's race. precisely orchestrate nearly 600,000 vehicles passing through their uk port every year. don't just connect your business. (dock worker) right on time. (vo) make it even smarter. we call this enterprise intelligence.

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we get them. to an nbc news exclusive now, you're seeing first on this show, our own blayne alexander one-on-one with georgia democratic nominee for governor, stacey abramss in a race being watched across the country. we're joined in atlanta with this interesting scoop. it is an interesting time for abrams, where she is, based on polls show, seems to be trailing brian kemp outside the margin of error. >> you know what, and i asked her about that, i asked her, you know, what does this kind of look like, and she acknowledged she is the underdog in this race, she said whenever you're running against an incumbent, that's the case. and this is a wide-ranging interview, we talked a little over 30 minutes on everything, from the fact that this is a very closely-watched rematch, with what is different here and the campaign and across the state of georgia and we talked about issues and things she is hearing from voters on the campaign trail and i asked yes it is drawing a lot of attention in the peach state and across the country, and why that is. take a look. >> how crucial is georgia? >> georgia is often a lead on

what's going to happen across the country. we saw in georgia's transformation long before the national attention turned to us, when money was being poured into other states, we were able to signal, back in 2016, you know, we have a competitive election spent on your neighboring states, we actually performed as well, but with less investment. what we know is the future of how politics happen will be shifting to the sun belt and georgia is dead center, not only physically, but certainly in terms of our predictive ability to show what the electorate will look like going forward. >> reporter: and hallie, i certainly don't have to tell you, we saw that come to bear in 2020, with all of the changes that georgia brought on. you know, what's interesting, though, of course, is when you look at what happened back in 2020, georgia going blue for president biden and also sending two democrats to the senate, really stacey abrams is widely considered to be one of the key people at the center of that. she helped register some 800,000

voters across the state. and so, i asked her, how are you going to be able to use the same voters to help you score a historic win? she talked to places where democrats don't usually going, going to the rural areas, going for the individual votes. and she said, that's going to be a key part of her strategy going into november. now, hallie, i want to mention that we have reached out to governor kemp's campaign, also for a sitdown interview with him, as well. >> i'm sure you'll keep us updated on that. blayne, thank you so much for bringing that to us first here on msnbc. looking forward to catching the rest of the interview on nbc, tonight at 6:30 eastern on your local nbc station. all eyes on the united nations next hour, when ukrainian president zelenskyy is expected to address the u.n. general assembly. and will russia's foreign minister will be listening? we know he's there in new york. coming at vladimir putin is now you mobilizing more russian troops and making some vague threats on nukes. president biden today calling on

the world to stand with ukraine and unite against russian aggression, saying this war is all about extinguishing ukraine's right to exist. nbc news's kara lee is with us at the united nations. we know we're going to hear from president zelenskyy. i imagine that speech will track largely along the lines what we heard from him before. but there's this wild card of sergey lavrov being in town. anybody going to sit down with him, anybody going to talk on the u.s. side, formally or informally? >> reporter: it's a great question, hallie. the biggest opportunity there would be for that to happen is tomorrow where there's a meeting of the u.n. security council that foreign minister lavrov and the secretary of state anthony blippeningen are both expected to attend. there could be interaction there. we know the administration has said they are open to discussion between those two if they were to be productive, particularly when it comes to the americans that russia has wrongfully detained, according to the

administration. brittney griner and paul whelan. but obviously there's no shortage of things for them to discuss when it comes to ukraine. and that will be heard from the president today. and he said the world needs to continue to unite around ukraine. and he used vladimir putin's most recent comments about threatening to use nuclear weapons, ramping up the number of troops that russia has in ukraine to really underscore his point. take a listen to the president. >> today, president putin has made overt nuclear threats against europe in a reckless disregard for the responsibilities of a non-proliferation regime. now, russia's calling up more soldiers to join the fight. >> reporter: now, u.s. officials say that the troop announcement was expected, that it shows

signs of weakness within russia that vladimir putin is struggling with his -- to execute the war in ukraine. and when it comes to those comments that he made threatening to use nuclear weapons, potentially, we've heard from the president that there will be a response if that were to come to pass and one of the things that we know that u.s. officials are looking for is are these just words or is there actually some movement towards what the russian president is saying he could do, is there action behind the rhetoric? so far, administration officials are saying that they don't see any specific actions to back up what the russian president is saying, but nonetheless, they find it very concerning, hallie. >> the war in ukraine is the biggest geo-political issue that is facing the world leaders who have arrived at the u.n. this week, but there are other issues, too, including what's up with china and taiwan. you heard the president make a point of saying the u.s. is still committed to the one-china policy, even though several times this year and just recently this weekend he said things that the chinese viewed as more sympathetic to taiwan, that the u.s. officials have had

to walk back here, carol. >> reporter: yeah, that's right. and what you heard from the president in his speech was a very typical, very written for him line on taiwan and it was very different from what he's said multiple times now in various settings when asked about whether the u.s. would come to the defense of taiwan if china were to move militarily on taiwan. the president has said yes, that the u.s. would do that, and he said it in multiple settings and you have administration officials saying no, hold on, that's not necessarily the policy, there's no change here. we heard the president say what u.s. policy is stated and aligned in this speech and that was most likely an intended to try to reinforce that he didn't necessarily mean what he said in that "60 minutes" interview. >> carol lee live for us in new york city. good to e so you, carol, thank you. before we go, the dow has dropped something like 450 points, really just in the last hour since we've come on the air. the federal reserve made its

fifth rate hike this year. stephanie rhule is with us. i said, hey, markets kind of flat, not reacting too much to this. i know i didn't jinx it. it feels a little like that. what's going on here? >> remember, markets go up, markets go down. they are down a lot right now. but you have to think about the market reaction to what jay powell said today. we were all expecting today's rate hike, but he made it clear, we are going to see rate hikes for the foreseeable future, but he said, don't be surprised if we see an uptick in unemployment. why is that? because when rates go up, it makes it more expensive for businesses to do business. remember, they borrow to meet their payroll, they borrow to grow. this may cause businesses to slow down a bit, tighten their belts. and you could see unemployment go up. now, is that a reason to be completely panicked? no. because remember, unemployment is currently very, very low and while you don't see more people out of work, we have a little bit more of a cushion on that side, and the markemarkets's reg to that.

it's going to be more expenive for businesses to do business. and life's pretty expensive right now. >> stephanie, thank you. and thank you all for watching. you can find us on twitter, show highlights there. and of course over on your streaming channel for nbc news called nbc news now, tonight at every weekend for show number two at 5:00 eastern. i'll see you there. "deadline white house" starts right after this break. ♪ ♪ ♪ today, my friend, you did it... ♪ today you took delicious centrum multigummies and took one more step towards taking charge of your health. they're packed with essential nutrients for energy and immunity support. so every day, you can say, ♪ you did it! ♪ with centrum multigummies. (cecily) adam, look-y what i got... (asdam) is that the new iphone 14 pro? ♪ you did it! ♪ (cecily) yup, with this amazing new camera, smile! (adam) and you got it on verizon?

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hi, everyone. it's 4:00 in new york on another huge and bonkers news day. an announcement today from the new york attorney general tisch james that is nothing short of a bomb shell. the new york a.g. announcing a civil suit that could be potentially devastating to the fortunes of the trump family and filing a criminal referral to federal prosecutors, as well as to the irs. at a press conference today,