i'm skyler henry in washington with details from the union busting hearing. >>> we have much more in the newscast but nothing will top the weather we've been experiencing. another wet day on tap and the weather department is declaring today a first alert weather day. it comes after another storm brought showers and gusty winds again. we're seeing toppled trees and flooded roads and even blackouts across the bay. winds were so strong a high- rise wdoked ars before. late r sh, annuarchitgi cotant video of those windows shattering. so let's take a look out across the bay area. you can expect less rain today but some people should expect to hear some thunder and see lightning too. looks pretty soggy and gray. everywhere. >>> it has been all morning long and what's interesting about the storm today compared to yesterday. by the way it's the same storm, just losing energy this afternoon. a lot more lightning activity and a lot less showers compared to yesterday's numbers and the winds are going to die down today too. yesterday windigos up to 67 miles per hour in los gatos and today maxing

skyler henry on capitol hill as lawmakers drill regulators concerned about the debate that sent shockwaves through the us economy. >> first let's get straight to our breaking news if earthquapacifica.insula you t he we've been tracking that morning joe officials say was that my house and first alert meteorologist jessica has been tracking this very busy morning for us on the. >> but also there's a storm coming through as well. tis hi t locally tc.sae thme take a look at our first alert doppler, i'll work our way down south we're seeing thfrshe s erall the way down into petaluma along the 101 so careful on work right along the scenic storm even close to pacifica as he was a on top of the winds, this is the right now if we take a live look outside at earthquake, there's a 3.5 magnitude eartke aftershocks, both 2.6 on the san andreas fault line behind my earlier with one of the usgs personnel there and you mentioned this was a unique request because it doesn't follow the standard characteristics want us along the san andreas fault line more on that in a bit but for now jocelyn is live in paci

cbs's skyler henry is at the white house tonight with the latest. skyler, good evening. >> reporter: hey, robert. good evening to you. well, cbs news has learned that the fdic is looking to auction svb with hopes of a sale before financial markets open tomorrow morning. now, while the treasury secretary says safeguards are in place to prevent the financial collapse we saw in 2008, the big question now is whether what happened to svb is an isolated incident or any of that spillover will impact other financial institutions. federal regulators are scrambling following the sudden collapse of the silicon valley bank. >> we are concerned about depositors and are focused on trying to meet their needs. >> reporter: treasury secretary janet yellen told cbs's "face the nation" today that the department is working fast to address the situation but is ruling out a bailout for svb. the second largest bank collapse in u.s. history is sparking alarm about reverberations amid rising interest rates. >> we want to make sure that the troubles that exist at one bank don

skyler henry explains. >> reporter: the federal reserve raised interest rates by a quarter percentage point wednesday, the ninth hike in a year as the central bank fights inflation. >> it's proceeding more slowly than we would have liked. it's certainly proceeding. >> reporter: riding prices for staples like bread and milk are costing american households an average of $372 more a month. meanwhile, the rate hikes have made borrowing more expensive such as for mortgages and credit cards. fed chairman jerome powell says it could be several years before the central bank hits its target. >> the process of getting inflation back down to 2% has a long way to go and ike bum reporter: after the recent stumble in the banking system, the fed now expects to raise rates just once more this year. a necessary slowdown, according to business analyst jill schlesinger. >> we are really in the middle of this period of time where we don't know how banking conditions are going to work out, and we don't know the impact on the overall economy yet. >> reporter: regulators have repeatedly expressed confidence

let's bring in skyler henry in our nation's capital. relations are at their lowest point but what are you hearing in d.c. this is an extremely complicated situation. >> reporter: good to see you. well, the scramble is on for officials trying to get to the wreckage in the black sea. we know that the us is at a disadvantage because they do not have a naval ship in the area. officials say that even if russia were to get to that drone wreckage, they will have a tough time exploiting the information on board. the u.s. will continue to fly missions near ukraine even after a russian jet caused a u.s. drone to crash. >> make no mistake. the united states will continue to fly and operate wherever international law allows. >> reporter: the u.s. often flies drones over the black sea as it monitors the fighting until ukraine. it's not uncommon for russia to scramble jets to intercept them. but the pentagon says things went too far. a russian jet approached the drone from behind dumping fuel. u.s. officials believe the pilot meant to come up in fron

skyler henry joins us live from washington, d.c. this is heartbreaking for so many people. what we know about what happened? >> reporter: it is, amanda. good to see you. officals say five people were on board one helicopter. four on another at the time of the crash. they were performing what is referred to as a multi-ship formation using nighttime goggles. and aircraft safety team is headed to the scene to investigate. >> it looks like some sort of an escort. we have an ambulance. >> reporter: a long one of of urgency vehicles lined the road not far from the crash site in southwestern kentucky. the army says two black hawk helicopters collided in midair during a routine training exercise, killing nine soldiers. >> this is a truly tragic loss for our families, our division and fort campbell. and the number one priority is caring for the families and the soldiers within our combat aviation brigade.>> reporter: the accident occurred about 30 miles northwest of fort campbell. the kentucky governor expressed his condolences. >> the nine individuals we lost our children of god. t

cbs's skyler henry is in washington and has the very latest developments.porter: hey, jericka, good evening to you. well, the former president said he would be arrested on tuesday. his team says that that's based off of media reports and not from the manhattan district attorney's office. and while a grand jury vote on whether to indict the former president is coming, a timetable on when that could happen hasn't been announced. donald trump was greeted with cheers at the ncaa wrestling championships in tulsa, oklahoma last night his first public appearance since predicting his arrest and calling his supporters to protest. a manhattan grand jury is investigating alleged hush money payments trump made to adult film star stormy daniels days before the 2016 presidential election. trump denies any wrongdoing and sunday republicans rushed to his defense. >> i'm taken aback at the idea of indicting a former president of the united states. >> reporter: but not everyone is in lock-step. >> the circus continues. i mean, look, he only profits and does well in chaos and

. >> that's skyler henry. stock tumbled off the federal reserve announcements.ey are up about 3 offer a health 360 at this mom. thy are looking for newbs people.lin off 2200 that's about 15% of the compa. that's a huge chuck. t announc the layoffs on the company site. >>> items from the murdaugh family sight will go up for sale. some of them include couches and lamps. this is after the sentencing. >>> we are catchi a break igh pressure will be buildi we have quietier weather we have a chilly start to the d as we head through the afternoon we have a mix of sun and clouds this afternoon. partly cloudy skies. a chance of hit-or-miss the north bay have a better chance of seeing passing showers. it's really hit-or-miss. dry friday into the weekend. highs remaining cool. below average. dry weather over the next few days. here we go with what to expect. we have brightly color schoo in the 50s. ts is also inland. san francisco. 57 in pleasant this afternoon. 59 in santa rosa and napa. we head through friday into the weekend. we'll have cold mornings and you can see the

skyler henry explains how the volatility of the u.s. banking system caused this. >> we are committed to restoring price stability, and all the evidence is the public has confidence that we will do so and bring inflation down to 2% over time. >> reporter: fed chair jerome powell said the fed decided on a lower rate increase after considering keeping rates unchanged. >> you could consider it the equivalent of a rate hike or perhaps more than that. it is not possible to make the assessment today with any precision whatsoever. >> reporter: higher rates means it will cost more to borrow money. that could cause some banks to pull back on loans, putting further strain on the economy. >> if banks pull back on lending and borrowing is lessened and individuals and businesses have less money to spend on the economy, we could see a slowdown that would lead to a recession. >> reporter: janet yellen defended the recent decision to rescue even the uninsured depositors at banks. >> we took measures to protect the depositors of the two failed institutio

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. >> for an explanation, here is skyler henry. >> reporter: federal regulators are scrambling, following sudden collapse of the silicon valley bank. >> we are concerned about the depositors and their focus on trying to meet their needs. >> reporter: treasury secretary janet yellen told cbs's face the nation today, the department is working fast to address the situation, but is ruling out a bailout. the second largest bank collapse in u.s. history is sparking alarm about reverberations, amid rising interest rates. >> we want to make sure the troubles that exist at one bank don't create contageon to others that are sound. >> reporter: affecting the businesses they financed, including roadblocks, etsy, and roku. the fdic seized control of the bank on friday, which had more than $200 billion in assets. today, lawmakers on both sides are pointing fingers, but are hopeful for a swift resolution at leaving the door open for a possible acquisition of the failed bank. >> but is it attractive for someone who wants to purchase it? it's a timeline of where to move forward. the administration has too

cbs's skyler henry is

skyler henry has wide ranging reaction to the possible indictment. >> reporter: former vice presidentike pence says an indictment of donald trump is not what the american people want to see. >> i'm taken aback at the idea of indicting a former president of the united states. it just feels like a politically charged prosecution here. assembly after the former president called on his supporters to protest in a social media post announcing he expects to be arrested on tuesday. in an apparent response, manhattan district attorney alvin bragg emailed the staff saying quote we don't tolerate attempts to intimidate our office or threaten the rule of law in new york. >> we have strong institutions and should have confidence in the due prose of law. and i think that's what you are seeing play out here. nobody is above the law. >> reporter: a new york grand jury is investigating hush money payments to women who allegedly had sexual open counters with the former president. accusations trump has denied. some say arrest could help posthis prospects for the 2024 presidentable race. >> it's building