good to be with you. i'm katy tur. we are going to move fast this hour as the climate around president biden seems to be shifting rapidly. speaker hakeem jeffries, who said he was behind joe biden, told reporters today the conversation among house democrats about what to do next

remains ongoing. meaning president biden still hasn't convinced them he should remain in the race. and nancy pelosi who yesterday said president biden needs to make up his mind. today she said she's concerned about the number of democrats who have come out against him, saying, quote, i would have hoped we would get through nato. on the senate side, the first complete defection that was senator peter welsh of vermont who told this show that the door was open for another candidate. that was just the other day. well, he's made up his mind and he says biden needs to step aside. then there's all the source reporting out there. three people familiar tell axios that chuck schumer is, in their wos,quote, opening to jump joe biden. when asked him about that, and now new reporting from "the new york times" from three people briefed on the matter who say long-time biden aides and advisers are convinced, convinced that he has to step aside and that they have been

taking the past few days to come up with ways to persuade him to do it. the white house flatly denies this reporting. "the times," though, is also reporting and nbc news confirms, the biden campaign is quietly accessing the viability of kamala harris against donald trump. they're polling her. finally, nbc news reports several of joe biden's closest allies, including three people who were directly involved in efforts to get him re-elected are now saying he needs to drop out, he will never recover from this. we just got more news one second ago. this is from brad schneider, the congressman from illinois, democrat. he says, he love president biden. i am forever grateful for his leadership and service to our nation. the time has come, however, for president biden to heroically pass the torch to a new generation of leadership to guide us to the future he has

enabled and power to pursue. another lawmaker, on top of all i just told you about. joining us, nbc news white house correspondent monica alba, punchbowl co-founder and nbc news political contributor jake sherman, staff writer with the new yorker, susan glasser and msnbc political analyst, peter baker. peter, i'm going to start with you on this. it feels like something's changing today. >> yeah, you're seeing the drip, drip, drip beginning again. the president had kind of put a halt to this for 24, 48 hours with his letter and calling into "morning joe" on monday and the nato summit, which you rightly quote nancy pelosi talking about. she wanted any discussion of this to hold off until he was off the world stage. you don't want to embarrass the president when he's hosting leaders from around the world. it doesn't stop the drip, drip, drip. you're hearing more from democrats that they don't consider this to be a tenable

situation going forward. he's going to give a press conference at 6:30. maybe he'll convince people to hold fast, rally behind him. if he doesn't have a good news conference, it could accelerate the momentum the other direction. >> talk me through "the new york times" reporting regarding both insiders -- the white house is flatly denying this, trying to come up with a plan to talk to biden, but also this new news that they're polling kamala harris, peter? >> yeah. look, part of the question for the president is, can he win? that's one question. the second question is, can somebody else win? this is the way they're looking at framing this discussion with him, which they haven't had yet, as far as we're told. one way to tell whether or not someone else can win, see if kamala harris could poll well. it could be used to feed his desire to stay in by showing him polling results showing kamala harris wouldn't do so well. it kind of depends on which side of that internal debate you might be on.

that is part of the conversation that's happening right now, at least among the people around the president, even if not necessarily with him. >> monica, walk us through what nbc news has on all of this and where biden stands. >> i think peter makes a really good point there. this could be seen as a larger data point, the fact the biden campaign is quietly testing how vice president harris would do against donald trump is a piece of information that's a part of a larger conversation that the president might be having in the weeks ahead about a potential path forward and he may want to know how he does in current polling and how that stacks up to how she may do and whether she would fare better, worse or roughly the same as. i think that's something some people feel is an important number to have and some key information. we know there are other polls out there that have tried to assess this as well, but the biden team clearly wants their own internal evaluation and assessment. that is going to be taking place

this week. i'm told specifically it was also done in the context of responding to what we saw from donald trump in the last couple of days, which is to really turn the dial up on the vice president specifically and start to attack her a little more. they also want to see how that play play with certain key voters in certain key states. that is kind of part of this conversation as well, katy. it's notable that it's happening while we're having these really serious conversations and while the president has some intense questioning about whether he really is still convinced that he should be the one to be the democratic nominee. it raises this hypothetical that the president always likes to say, i don't want to answer things that are hypothetical, but this in case it's really relevant. which is if he does decide to step aside, if he makes that decision, will he completely hand over the reins to vice president harris and would she

become the nominee? that conversation is the key back drop to a lot of this as they're still contemplating his path forward here. >> we'll see if he actually answers that question or if he does decide to sidestep answering it and saying it would be harris would be major. jake sherman, on capitol hill, yesterday we saw nancy pelosi say he needs to make up his mind. that blew the door open. she knew he had already made up his mind, but for her to say that felt like her saying, hey, i'm going to open the door and at some point you guys can walk through it if you need to her house colleagues. today yet another lawmaker -- a couple more lawmakers, peter welch and brad schneider who just released his statement six minutes ago saying he thinks biden should step aside, what are you hearing internally? and do you suspect or anticipate more lawmakers to come out publicly? >> i do. that's what we've been told,

katy. it's difficult for me to imagine the administration handling this matter worse on capitol hill. it might be possible, but i don't think -- i can't foresee -- i can't understand what that would look like because it's incredibly bad. the bleeding has not stopped up here, not even close. and nancy pelosi said today, i asked her if she was concerned all these people were coming out. and her response was, effectively, i just wish they would have done it after nato. it's not even she's concerned there are a dozen, and i know for a fact there's going to be more coming out in the next couple days. it's the fact they did it during nato, as peter said, when all these world leaders are in town. just about an hour ago a meeting between several biden administration officials met with senate democrats just an hour ago at the dsec, the campaign committee. and it was -- for those still on biden's team, it was fine. for those who are on the fence

or who have already said biden should leave or something similar to that, the meeting was a disaster, according to people who were there. they did not show any polling, katy, not any -- not one scintilla of public polling or private polling that indicates that biden should remain the nominee for president. it was basically, according to people we spoke to who were in the meeting, it was effectively a campaign presentation that you should stick with the president, there's still a path, et cetera. senators are relatively wise people when it comes to campaigns. they all have to win their own. they felt like it was useless. i don't know -- i'm not -- i don't know what impact this all has, but i can tell you, we're going to get to a point in the next week where there could be dozenings if not more than that of democrats out against biden who don't think he's up to the task and tonight is just a major

pivotal point for all these elected democrats. >> susan, this moment is, as jake said, pivotal. it also feels really risky. the democrats haven't done something like this since, what was it, '68. they haven't gone to a convention to pick a new candidate. that's if they don't have joe biden just passing it off to kamala harris, if it comes to that. what are the risks of joe biden deciding to step away? >> yeah, every day this goes forward, of course, is a bad day for the democratic party in the sense that the attention is all on their internal struggles without resolution. the focus is not on donald trump. it's not on the challenges on the world stage. this nato summit is the 75th anniversary of nato. i can't think of a more clear-cut contrast between joe biden's record and donald trump's record than the contrast between their two attitudes towards support for our allies in europe and support in ukraine after the russian invasion. biden has made this a signature

of his foreign policy. he has spend the last few days meeting with fellow world leaders seeking to essentially institutionalize western support for ukraine. some pay it's to trump-proof western support for ukraine, which is hard to do. at the same time donald trump in a campaign rally is out there talking about the -- basically questions nato's premise saying i didn't know much about it when i was president and telling an untrue story about how he would refuse to defend western allies if they didn't, quote, pay up enough to nato to satisfy him. so, this is a contrast they're not talking about. the political situation for democrats has gone south every day that biden's fate as a candidate has been uncertain. you've seen the poll numbers start to sink even in states we did not consider to be battleground states before this. so, i think that at a certain point there's a game of chicken

between biden and the democratic leaders on capitol hill who might be the only ones who would be able to confront him and to beg him to get out of the race directly. that hasn't happened yet. so we're in such uncharted territory, katy. 1968, that was in march. and now we are months past that. months past when lbj left the race. >> also the convention was set up to nominate people. they understood how to do it. it was muscle memory. doing it now would be a whole new thing for the delegates, who are involved in trying to elect and choose a new candidate. you're talking about battleground states or new battleground states, states that seem safe. new hampshire is one of those states that's up in the air right now. susan, in regards to the fate of joe biden, the conversation we're having, it doesn't seem like this conversation will go away if biden decides not to step aside. if he says, i'm running and everybody gets behind him, there still is going to be this watch and see if he slips up again

feeling among americans. as george clooney put it in his op-ed, where people hold his breath when he walks up to the podium to see if he has an unscripted answer that doesn't make sense, if he says he spoke to the leader of a foreign country who has been long dead, that sort of thing. how does the biden team recover when that narrative or when that conversation or that expectation, anticipation, fear, if you will, will remain out there? >> yeah, katy, i think this is a very important point to make because they can never fully put it to rest. and every time biden appears in public, there's the chance of resurrecting it. in effect, this has become a chronic condition of his campaign to manage, even assuming he overcomes the worst of this political crisis moment. so, you know, you could see democrats fall back in line, him get nominated by the convention and then imagine this cropping up later in the campaign, even

very late in the campaign, in september or october. there is a second debate that was scheduled that's supposed to take place in september. what happens then? it would much harder for democrats to extricate themselves from a biden candidacy at which point he's an official nominee of the party, instead of before where he's not necessarily the side consequences of having that historically early debate before the convention. you know, we could be in a cycle where this recur ingrecurs and until november. >> it's hard to put the toothpaste back in the tube. jake, in terms of front-line democrats, a few have come out and said they want joe biden to step aside. there's also a lot of reporting surrounding concern he might drag down the ticket. so far a lot of democrats, even in swing states or even red states have been polling better than joe biden.

blue states certainly polling better than joe biden. how legitimate is the fear or how pervasive is the fear that if he stays on the ticket, they won't be able to win back the house and their chances of winning back the senate, which were already difficult, will be nonexistent? i know hakeem jeffries was asked about this a little earlier today. >> yeah. it was -- it's pervasive and legitimate. it's less in the house because these seats are so tightly drawn and so partisan on both sides, republican and democrat, that there's not that many seats that are up for grabs, but listen, we reported a couple days ago in a closed democratic meeting, mark takano, stood up and said in his district, which biden won with 62% of the vote, that biden was down in recent polling double digits. that's a seat he won with, again, over 60% of the vote last time. that's not a good sign. in the senate it's more acute

and even more important to note that almost all of the seats that democrats have to win, all of them effectively, to keep the majority, the nominee -- the senator, the incumbent, is going to have to run 10 -- anywhere between 5 and 10 points ahead of joe biden. so if joe biden is sinking even further they have to further outperform the incumbent president, that's not good. donald trump is going to romp in ohio. he's going to romp in west virginia. he's going to a state like montana. so, it becomes really difficult. katy, i said this before, i want to repeat this. these folks up here are concerned about their own re-elections. they want to keep their jobs, by and large. i don't doubt they're concerned about democracy but they're also concerned about their own re-elections. that's driving a lot of this angst, which is we're not going to be able to keep the house,

we're going to lose the senate and the white house. republicans tell me they think they could have a 10 to 15-seat majority next congress. they could double their margins. that's very striking. by the way, the other side of this, no one knows -- as peter said, no one knows if there's a better option out there. no one knows if they can beat donald trump without joe biden. it's a complete and utter mess. >> we got a state from kristina bohanahan who is running for iowa's first district, calling for biden to step aside. i don't know much about the first district. is that a competitive race? >> i don't know which one, there's ashley hensen and nunn. >> part of the dcc's red to blue program. >> that's probably the zach nunn district. he had a tough race last time around. he gets a lot of money from the

party apparatus. and the republicans are playing this like democrats are trying to save their own jobs by suddenly abandoning the president after marching lockstep behind him in the past. you're not in the clear politically if you abandon him completely, too. a lot of democrats who have not come out against biden say their constituents are praising him. don't turn your back against the guy because he's having a tough time. i'm not understating this. it's an incredibly difficult calculus for sitting members of congress and candidates when they need democrats to vote for them to get the seat. >> i have the help of google while you're talking. zach nunn is district 3 in iowa. still looking for district 1. peter baker, what happens if joe biden steps aside? what are the options on the table? >> a couple options. first of all, we're assuming he stays in office and he doesn't resign the presidency, which in which case kamala harris would become the incumbent. most likely is he would step

aside as a candidate and say he wants to finish out his term and say he wants to focus on world affairs and turn the race over to someone else. the question is, does he anoint harris kaup as his successor? he appointed her. there's a concern pretty cat there. if he did that, i think it would be very hard for any other democrat to take the nomination away from her. if he doesn't do that, if he says it's a jump ball, let them all compete and see who does well, then obviously it's -- kamala harris starts off with an advantage as incumbent vice president but there's a number of other candidates who might jump in. not only is the convention next month, but they have to do their virtual roll call by august 7th in order to stay on the ohio ballot. that's a weird snafu they have to address. that means the harris, if the president were to suddenly step aside, would be very, very truncated. very few are ready for that in a significant way to run a

national campaign in an immediate stop-start way. >> the first district in iowa, a very close race. jake sherman, monica alba, susan glasser and peter baker, thank you very much. still ahead, what the polls on joe biden tell us. plus, nato on edge. what world leaders are doing to trump-proof the alliance. also, there is one thing the trump team says that can disrupt their plans to win. just one thing. what they told "the atlantic's" tim alberta and why that one thing might actually be happening. actually be happening. (kevin) now our businesses get fast and reliable internet from the same network that powers our phones. (aaron) so whatever's next... we're cooking with fire. (vo) switch to the partner businesses rely on.

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♪ with my arms wrapped around... ♪ we have more polls rolling in. more than half of democratic voters, 56%, say that joe biden should drop out of the race. joining us, former deputy assistant secretary of state and former spokesman for hill hillary clinton, and new york congressman representing the 11th district, max rose. i told you i would have you back on. here you are. the lawmakers we're seeing today, we saw house member, we saw a senator, we're seeing a candidate in a close district in iowa. what's your sense of how things are moving? >> it's very weird. it seems there are two contradictory sentiments in the democratic caucus right now. this is what senator welch said.

i can't unsee the debate. no going back. if anyone feels that way in the caucus, rip the band-aid off. this drip, drip campaign is emotionally disturbing for everybody else. let's just get it over with. >> keeps it in the headlines. >> yeah. it's not good for anybody. on the other side there's a healthy number of people, i would suspect it's actually the majority, who are saying, well, look, i don't like how it went but i want to see him do better. if that's the case, look, the president had a pretty good week. it's not perfect, but he didn't have a week of a series of flubs. and he spoke, you know, without a teleprompter at the union event just the other day. but if someone is thinking about the data, they keep pointing to the polling, the polling, the polling, of course the president's numbers went down. but the question is, will it be temporary? i suspect that's actually the case that you're going to see a massive swing back. but polling are lagging indicators. it would take some time.

there has to be a concerted strategy here. that means they have to reconcile those two separate camps here that are just at total loggerheads. >> i have a question, though, if joe biden stay in the race, and say he loses, what does that do to the democratic party? >> i think, god forbid, if donald trump becomes the president yet again, what people are -- first of all, everyone is going to be scared out of their minds. what people are going to be looking at and focusing is rebuilding the party, winning the presidency back -- >> you don't think it tears the party apart? >> no, no. i don't even think we should think about this from -- yeah, count the number of times people say, i don't entertain hypotheticals at this point, right? >> it's all hypotheticals. yes, they're hypotheticals but they are all within the realm of possibility. >> here's what i know. no winning party under any circumstances thinks this way.

i remember not too long ago the democratic party in the summer of 2022, they were scared out of their minds. they were -- there were members of the democratic leadership worried aboutheir seats. what do you know, the polls swing back and the democrats had, besides new york, a pretty successful electoral outcome. this is by no means cooked. we shouldn't be thinking about after the lebz because we are running against a republican party, even when their guy gets convicted, 34 felonies they stand behind him right away. they don't even think about it. >> democrats look at it and say, that is why the republican party has lost their way. they are not demanding this guy who has been found guilty on 34 counts, this guy has a whole host of other stuff that has gone wrong, inspiring an insurrection, et cetera, they wouldn't demand he step aside, they wouldn't actively try to get him out of the race. they have just fallen in line. the criticism of democrats for saying that for so long and the

idea they would all get in line behind biden, who they might have reservations about because of his age, some would argue feels trumpian. i'm going to put you on hold for a second. i've heard trumpian from a lot of people in the democratic party worried about what they're doing with joe biden. not to say the two men are the same. they're not. if you were advising president biden, if you got to have his ear for ten years, what would you tell him? >> i would tell him to take control of the press conference. he put forth the best argument to date in terms of the nervousness and divide within the party. the thing i would add is what happens if joe biden continues to run and loses, wouldn't that shatter the party? i think the next question -- or the next point to make is, people were not realizing that any shift away from joe biden has consequences, too.

it's -- you know, you have to do a cost benefit analysis of those risks. if he doesn't run, there are people who want him to run that will be upset. if he doesn't run, then vice president harris should be the one because she's basically his understudy and she's capable and really should be the nominee. if these cockamamie schemes are put in place to pass her, you have the cost benefit analysis. it's not just whether or not joe biden is the nominee, whether or not people are upset come after election day. in terms of what i would say to him, look, when i voted for him four years ago there were no strings attached. if he thinks, which he does, that he's capable of being president and capable of taking us forward, then he should. the thing i would say is that if he is going to salvage this because as the congressman said

the, what we've seen the last couple of weeks, we've seen some fight and some lags. we saw the "morning joe" call, the letter to congress. those were great. we saw his nato speech. what's interesting about that, no one paid taepgs to it. i think the fact we're having conversation now about a press conference, a couple hours from now, is a problem in that they can't keep allowing there being a moving target of an off-ramp because there could be three things that people are watching for. the first one is going to be what we all saw at 9:00 that night. how does he look? i'll tell you right now, he's going to look the same. two, it's going to be the format. is he going to take 100 questions and be there for four hours. now, he's not. the media is going to be disappointed. third is his actual answers. his actual answers, it

depends -- we'll see whether or not he is still speaking a different language than the media. if he's approaching this as something he had a bad night and nothing more than that, if they say, will you take a test, he says i'll take a test every day, we're back at square one. if you meet them where they are, as annoying as that might be, then that's the point you can start rebuilding. but basically that is a tall order what is set up this afternoon. if it was left to me, i would say one thing to him is you want to do a series of small things throughout the week every week. you don't want to set up a george stephanopoulos interview, set up a press conference. i don't want to say you don't want to set up a lester holt interview because that's your sister network, but you don't want to set up big moments that anyone might have a bad outing. >> i have to leave it there. we've run out of time.

thank you, guys. what nato leaders are doing to trump-proof their military alliance is coming up next. there is also one situation the trump campaign says they have no plan for. what that is just after the break. (man) ahhhhh! (woman) no, no, no, no, no! (vo) you break it. we take it. trade in any phone, in any condition and get a new iphone 15 with tons of storage, on us. only on verizon.

our friend tim alberta reports the trump campaign has a plan, just one plan, and that plan is how to beat joe biden. with all of joe biden's stumbles, it was a, quote, gift to donald trump. the only problem, as they would see it, is if the democrats changed the ticket. joining us now, correspondent vaughn hillyard. it seems like it could be at least a possibility. what's the trump campaign doing about it? >> waiting. >> are they rooting for joe biden? >> it was interesting. the very night of the debate in

talking with one of trump's senior advisers on the floor, i asked the question, right, what happens if it's not joe biden? he goes, joe biden is the only one that can make this choice and he's not going to make the choice to leave this race. >> every time you say that, right. it's the classic -- it will come down to one person. that person is joe biden. so, the more that donald trump says out lout or his advisers say, he's not going to leave the race, perhaps they convince themselves he's less likely to leave the race. this is a competition that joe biden got into the race in 2019 and he won that fight. he has every conviction and belief he can do it again. donald trump is looking for a rematch. >> we've seen how donald trump plans to run against joe biden. we mentioned tim's reporting to highlight every one of his

stumbles. what they've put in social media, two social tweets, the way donald trump talks about him on his campaign. they have a narrative they're pushing. that is joe biden is not well and not with it. >> for them to change midstream, do you have a sense they have an idea about how to go after any other names mentioned, kamala harris, gavin newsom, wes moore, josh shapiro, gretchen whitmer, have they started to game out what they would do against any of those people? >> kamala harris is the only person that got a shout out at the rally the other night. it was hitting on the points that they have long attacked her on. number one, her laugh. number two, the fact the biden administration tasks her with being in charge of the borders. the third is the fact she's from california. we have heard consistently over three points when kamala harris' name comes up.

shapiro and whitmer and moore have gone ignored by donald trump. gretchen whitmer, the last time she and donald trump came toe to toe in a story line. >> covid. >> yes. and militia group, seven individuals convicted for attempted kidnapping -- >> and covid restrictions. >> donald trump called it a hoax. donald trump never pushed back or rejected the efforts there. and so for him, gretchen whitmer is someone he's long familiar with. again, he has avoided those blow by blows with everyone except for gavin newsom who he said he would love a little fight with. >> we got some news from axios. donald trump jr. will speak ahead of the vice presidential candidate, a source familiar with the scheduling tells nbc news, first reported by axios. we confirmed it.

does that indicate anything to you? >> our guy on the ground in ohio was able to confirm that information. don jr. has been a political player in his father's orbit, holding fund-raisers, going around the country, campaigning for down-ballot candidates. he also has particularly close relationship with one of the vp candidates. that would be jd vance. those two have largely been closely tied together ever since the 2022 midterms. their ideology what they would like a second trump administration to look like are in line. at the same time, it's a convention -- >> and he was going to be speaking at the convention. >> donald trump loves to fire up a crowd and it's not unassuming he would have his eldest son fill that role. >> thank you so much.

my show "katy tur reports" will be on the ground live from milwaukee. you can catch us at 3:00 p.m. eastern. i'll be anchoring the noon hour "andrea mitchell reports" tuesday, wednesday, thursday and friday. four days. coming up, a welcome surprise in today's inflation report. what happened for the first time in three years. good news for everybody. plus, what world leaders are doing to protect their interest from donald trump. has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com.

the overwhelm focus on president biden's performance tonight has both overshadowed while underscoring the fears of another donald trump presidency. and what that could mean for nato. one senior diplomat complained to politico everyone is complaining about biden's appearance and less on trump's statements about nato. joining us, andrea mitchell. how are our nato allies trying to trump-proof themselves? >> one way is to build up ukraine, give ukraine what they did not give ukraine a year ago at the last summit which is an unreversible path to nato membership and to move defense coordination from u.s. leadership to germany and coordinate a much more robust

defense partnership to train, build and coordinate ukraine's military with nato requirements so that ukraine's military builds up to qualifying for nato. one big concern when we talk about donald trump is want just what he said at his rally in florida, which he did not know about nato before he became president, and also repeating the false hood that europe is not stepping up to its requirements. europe has -- nato has 23 countries out of the 32 and two are brand-new members meeting that 2% spending requirement. most of that from 9 to 23 has been expanded under the first years of joe biden, not under donald trump. also viktor orban, the nato member who has just been in beijing and just been in moscow, the two, you know, china, the ally that is helping putin expand and extend his war

machine, that viktor orban will be at mar-a-lago tonight. dealing with viktor orban is a big enough problem dealing with nato as a member, but the fact he's connected to donald trump and vladimir putin is a real problem. >> thank you very much. i believe we're looking at old footage of donald trump and viktor orban from when he was at the white house when donald trump was still in office. an update from the courthouse in lower manhattan as the jury prepares to get the bribery case against senator bob menendez. what happened for the first time in three years today? major economic news in a moment. ? major economic news in a moment. you fixed it. you looked after it. maybe it's time for your home to start taking care of you? we've invested in our home, we've worked on it, we had a whole lot of equity just sitting there, you paid down the mortgage, invested in your home.

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today would be a really great news day for the biden campaign in normal times. inflation is slowing a welcome surprise that in june for the first time since the pandemic prices fell. joining us now is senior business correspondent christine romans. prices fell, that's great news. >> it's a milestone report. what has been this big inflation fight that we have all lived through. every time you go to the grocery store, 3.3% was the annual inflation rate in may. it's 3% in june. that's the slowest inflation we have seen in a few years now. you can see i always say when we look the at these economic numbers, the trend is your friend. look at this trend. s this is a real reversal from the bad old days of 9.1 inflation.

there's relief right now. this suspect like people isn't like down the road. air fare is down 5% from may to june. gas is down 3.8%. in fact, over the past year, used car prices are down about 10%. so that's real progress right now. the white house today pointing out if you look at grocery prices for the first half of this year, they are essentially unchanged on average when you look at those. that's something that had really been a problem for families. you saw prices rise so much. i will say consumer prices overall are up 20% since the beginning of the pandemic. so prices are still higher, but that rate of inflation is slowing, incredibly important for the fed as it tries to consider whether it can start cutting interest rates. another pain point for american families. >> what does the white house say to anyone who might ask why this news has not yet hit the american public. >> i spoke to a senior administration official who said essentially it's a year now that wages have been rising faster

than inflation. it takes time to reset their baseline and recognize that pain of the higher prices is now being more than offset by rising wages. but that takes time. that will start to bear fruit. also calling this the milestone report, but saying they have more work to do and the senior administration official saying they are going to be pressing congress for what they can be for rent subsiies and the other things that are problems for housing costs. there's still a lot of work they want to tackle. >> housing costs is a big problem. thank you so much. great news about prices though. coming up next, the jury is about to get the case against bob menendez. what could happen if he's found dwlt. a live report in lower manhattan, next. a live report ir manhattan, next. s jacket. dang it. urghh! when they do, tide's got you covered. —looking good, man. —learned it from you!

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jurors are about to get the case against senator menendez.

senior senator senator is awe accuse of taking bribes from foreign governments. in closing arguments, prosecutors accused him, who is also the senate foreign relations chair, of selling access to his office, while the defense mocked the case as cherry picked nonsense. joining us now is investigative correspondent tom winter, who is outside the courthouse where menendez is being tried. sum up the summations for us, and when will the jury get the case? >> reporter: right, a little bit of news on that front. federal prosecutors have wrapped up their rebuttal in this case. any moment now, looking at the timing of what the judge said, we do anticipate the jurors to come back in and to begin receiving their instructions and for the jury to be charged, he anticipates that the jury will start their deliberations before lunch tomorrow. so they were not expected to start their deliberations today. but as far as the testimony, the opening statements, the closing

arguments, all of that is now complete in this trial. to your point, to summarize everything and put it altogether, we have been hearing -- this has been the case from the start of this trial. the defense side is saying they need menendez. nadine is the person directly involved and the senator was acting on behalf of his constituents. prosecutors said in their charging documents and in their rebuttal today, not so fast. look at the types of things that the senator did. does it add up if he wasn't personally going to enrich himself. they relied on text messages, they brought in the transcript of what menendez's attorneys and other attorneys said during their closing arguments. and rebutted them in their words line by line by showing specific evidence. they went far beyond. there's been a lot of attention for obvious reasons paid to the gold bars torks that cash, half a million dollars found at the senator's house it was something they targeted today, something that upset folks in the national

security apparatus of this country, which is the senator passing nonpublic information about the number of diplomatic personnel from the u.s. that was in egypt through nadine menendez back to egypt. why is that relevant? it's relevant, according to prosecutors and people in the intelligence community, because of a foreign country knows how many diplomats are there and know where they are located. they night mooigt know where somebody isn't or where they need to put surveillance on in order to make sure they know what the u.s. is up to. so that's something that is normally very sensitive. that's the type of thing they pointed to today as far as the senator going above and beyond the normal things he would do for his constituents. >> thank you very much president the jury gets the case tomorrow before lunch. that's going to do it for me. "deadline: white house" starts right now. 4:00 in the east. it's the 900-pag