i've actually seen them in person on a different tour, and they are remarkable. it's worth a visit, definitely. thanks for watching at 6:00. the news continues streaming on cap ♪ ♪ ♪ captioning sponsored by cbs intn nearly three dec >> o'donnell: tonight, the biggest interest rate hike in nearly three decades. what it means for your credit cards, mortgage, and even student and car loans. stocks jump after the fed's bold move to fight inflation. >> i'm not trying to do the recession now. >> o'donnell: could interest rates continue to rise? plus president biden bashes oil companies and their profits. americans missing in ukraine. the breaking news tonight. two u.s. military veterans reportedly taken prisoner in ukraine. capitol hill bombshell: the new video that shows a congressman giving a tour to a man the day before he marched on the capitol on january 6, threatening speaker nancy pelosi. >> we're coming to take you out!

>> o'donnell: plus our bob costa tonight with new reporting about vice president mike pence ahead of our live coverage of tomorrow's hearing. dr. fauci tests positive for covid. he's the face of america's pandemic response. pandemic tonight, the treatment he's taking. plus, a key f.d.a. panel endorses the moderna and pfizer vaccines for kids as young as six months old. severe weather. life-threatening heat and devastating floods. ford's major recall. nearly three million vehicles in danger of rolling away after being put into park. and a basketball team with no home. meet the middle schoolers who beat the odds. this is the "cbs evening news" with norah o'donnell, reporting from the nation's capital. >> o'donnell: good evening to our viewers in the west, and thank you for joining us as we begin with the state of the american economy and what it

means for you and your family. today, the federal reserve took aggressive action to tackle the fastest inflation in four decades. the rate increase was three- quarters of a percentage point, and the central bank also signaled there will be a similar increase when they meet again at the end of july. wall street expected the big increase, and all three indexes jumped today with the official announcement. but what it means to the average consumer is still an open question. the goal here is to slow the economy without causing a recession. as consumer prices skyrocket on everything from rent to groceries to gas prices, the fed hopes making it more expensive to borrow money means people will spend less on things like homes and cars, leading to a drop in demand. and as we know from the gas station, fuel is pricey. so president biden today was scolding u.s. oil companies for taking advantage of the crisis to make record profits. we've got a lot of news to report tonight, so let's start with carter evans in los angeles. good evening, carter. >> reporter: good evening, norah.

with this rate hike, the fed signals it is meeting the growing inflation crisis head on. it's a bold attempt to throw cold water on a white-hot economy. >> it is essential that we bring inflation down. >> reporter: the aggressive move from the central bank today is urgent, according to fed chair jerome powell. >> inflation is, obviously, surprised to the upside over the past year, and further surprises could be in store. >> reporter: the last time the fed raised rates three-quarters of a percent was in 1994, when inflation was only 2.7%. >> in the fed's view, there's too much spending going on. >> reporter: nick bunker with indeed.com. this is a different position than the fed had a couple of months ago. >> exactly. their expectations haven't come true and inflation is now very high, 8.5%. >> reporter: the fed's move today will make borrowing moneye more expensive, with rate hikes of 1.5% already this year, a loan for the average new car

price of $47,000 will cost almost $60 a month more in interest than last year. more expensive loans could discourage spending and reduce the insatiable demand now driving inflation to 40-year highs. but higher interest rates won't lower gas prices, now over $5 a gallon nationally. today, president biden called on seven u.s. oil refiners to ramp up production and stop making historically high profit offing historically high profit off americans. the painful price increases are already too much for some people on fixed incomes, like 70-year- old bonnie gilbert in omaha. her husband died last year from covid. >> now i'm not going to be able to retire because how am i going to retire with just a social security? >> reporter: to make ends meet this month, she's having ais moa garage sale. in pasadena, california, this 47-year-old single mother, who didn't want to give her name, relies on a food bank. >> so every time i get a paycheck, i make sure that first the bills, then-- and then see how much i'll need.

>> reporter: is your paycheck enough to get by these days? >> no. >> reporter: that's why you're here. >> yes. >> reporter: for her, the cost of living in the golden state is now unbearable. are you considering leaving? >> oh, yeah. good-bye, california. >> reporter: well, high prices may already be having an impact on consumer spending. it declined unexpectedly in may. as for home buyers, well, the fed chair said due to a lack of inventory, prices could remain high, even though the 30-year mortgage rate is averaging close to 6% right now. norah. >> o'donnell: hard to believe. carter evans, thank you. well, we want to turn to some breaking news out of ukraine. president biden today announced another $1 billion in military aid that includes anti-ship rocket systems and rounds for howitzers. in another major development, two american citizens, both military veterans, have been reportedly captured on the battlefield. cbs' chris livesay is in ukraine. >> reporter: the first american p.o.w.s in russia's war on

ukraine. andy wn, who served in the marines and alexander drueke, an iraq war veteran, were volunteering with a group of foreign fighters in the ukrainian army when they went missing amid a fierce battle on the russian border. now, their fate is uncertain. last week, one moroccan and two british p.o.w.s appeared in a russian-backed separatist court where they were sentenced to death by firing squad for fighting alongside ukrainians. as for these american military veterans, both from alabama, fellow soldiers told a british newspaper they destroyed a russian vehicle with a rocket- propelled grenade just before their disappearance. now their release will be up to high-stakes diplomacy at a time when u.s.-russia relations have almost never been worse. the white house says it cannot confirm the reports, but said if true, they'll do everything they can to get them home safely. the state department is warning americans to leave the country, lest they become a target of

russian operatives. norah. >> o'donnell: chris livesay, thank you. back here in washington, there's some new developments in the january 6 investigation. the house select committee today released stunning new video that's raising questions about whether there was advanced reconnaissance inside the capitol the day before the insurrection. we're also learning about what two key advisers to then-vice president mike pence will say at tomorrow's hearing. cbs' robert costa will have more on that in a minute. but first, cbs' scott macfarlane will start us off with that new video. >> reporter: the committee investigating the attack on the u.s. capitol is focusing on the man in the gray sweatshirt.y sw. seen on surveillance video taking photos of staircases and hallways in the capitol complex on january 5, the day before the attack. a day later, they say he was recording this video amid a crowd marching to the capitol. >> we're coming in like white on rice.

for pelosi, nadler, schumer. even you, a.o.c. we're coming to take you out! we'll pull you out by your hairs. >> reporter: the committee says he was part of a tour group led by georgia republican barry loudermilk. some taking pictures of security checkpoints. the congressman denied any wrongdoing. >> i'm totally opposed and i condemn that kind of language. but no one in that group showed that type of aggression that day. i mean, they were just-- they were just here visiting. >> reporter: cbs news reached a member of the congressman's visiting group, who also said it was not a reconnaissance mission, but the committee said the group stayed for several hours on a day the complex was closed to the public, and photographed and recorded areas of the complex not typically of interest to tourists. pennsylvania democrat brandon boyle says this photo is a spot he's never seen photographed before and was near a sensitive area. >> that specific stairwell was not too far away from where a large concentration of members

were taken that afternoon while the insurrection was still going on in the capitol. >> reporter: with the committee focused on this video, congressman loudermilk points to a report earlier this week from capitol police in which they say they reviewed the actions of that group from january 5 previously and found nothing suspicious. norah. >> o'donnell: really interesting, scott. stand by, cbs' robert costa is here with breaking news. all right, we know tomorrow's hering will focus on former vice president mike pence. tomorrow's star witness, one of the most respective conservative lawyers in the republican party. how damning will his testimony be? >> reporter: norah, it will be a dramatic moment. a staunch conservative republican who long served on the federal bench, retired judge michael luttig, will testify tomorrow, speaking to the nation and to his own party, that america's democracy was almost stolen from her. those are exclusive new details confirmed by cbs news. he will also speak out against his former clerk, john eastman,

about that infamous memo trump tried to use to overturn the election. >> o'donnell: and one of the things that's still missing in the puzzle is what vice president mike pence was doing on january 6 that day. what are we learning about that? >> we expect to learn new details from pence's former counsel greg jacob, about how trump was enraged on the east of the insurection, inside the white house, one on one with pence. we'll also learn about how pence finalized his letter resisting trump's pleas to block the biden's certification. we'll learn all about how pence's inner circle handled the crisis in the presidency. these are from republicans, not democrats. >> staunch conservatives. >> o'donnell: thanks to scott macfarlane and bob costa. they'll both be with us tomorrow for the coverage of the january 6 committee third day of public hearings. that's tomorrow starting at 1:00 p.m. eastern time. that will be right here on cbs. now to buffalo, where the white suspect accused of killing 10 black people in a racially motivated mass shooting at a supermarket was charged today with federal hate crimes and could face the death penalty.

the charges were filed on the same day that attorney general merrick garland visited the site of the attack, where he laid 10 roses at a memorial and later met with family members of the victims. there are two major covid headlines tonight. dr. anthony fauci, the president's chief medical adviser, has tested positive. cbs news confirms that fauci, who is 81, has mild symptoms and is being treated with pfizer's drug paxlovid. he's working from home. the other big news is something a lot of parents have been waiting for: f.d.a. advisers have signed off on covid shots for children that are younger than five years old. here's cbs' meg oliver. >> i may cry. >> reporter: today's vote means laura holm's four-year-old daughter, catherine, could be vaccinated as early as next week. >> i would have signed up yesterday. i would have signed up for a trial if i knew of any near me. >> reporter: her older sister, charlotte, is fully vaccinated, but catherine is one of nearly 20 million children under the age of five who could soon be eligible. late today, an f.d.a. panel voted to recommend both

moderna's two-dose vaccine for children under the age of six, and pfizer's three-dose regimen for kids under five. each vaccine is a fraction of an adult dose. that's peace of mind for andrea pearson. where did you get your shot? whose four-year-old took place in the pfizer trial in atlanta. >> we don't have any family here in atlanta. it was difficult to feel like they were missing out on her early childhood. >> until now, we've had a whole population of kids who have not been able to be vaccinated and that's all going to change soon. >> reporter: even so, a recent survey found only one in five parents of children under five wants to vaccinate their kids right away. those 5-11 have been eligible since november, but less than 30% are fully vaccinated. any concerns about vaccinating your youngest? >> absolutely none. >> reporter: holm's family in illinois hasn't been on a plane since before the pandemic began. >> tomorrow is my birthday, so that would be a really great birthday present. it's just going to be a real

sense of relief and feel like, oka, we've all got now that extra layer of protection. >> reporter: the vaccine still needs final authorization from the c.d.c. director and a vote to recommend. if that happens over the next few days, we know that pharmacies, hospitals, and clinics could start offering this vaccine to young kids as early as next week. norah. >> o'donnell: parents will be happy. meg oliver, thank you. now to the weather, where dangerously hot and humid conditions remain in place tonight from wisconsin to florida. the record temperatures are now blamed for two deaths in milwaukee. also in wisconsin, a tornado watch is in effect for more than 5.5 million people, with several confirmed tornadoes already touching down in the western part of the state. dangerous conditions continue into the evening. farther west tonight, montana's governor is asking for federal help after the unprecedented flooding at yellowstone national park. the northern half of the park got the worst of the damage and may not reopen for months.

cbs' jonathan vigliotti reports tonight from montana. >> reporter: tonight, yellowstone national park remains closed, after historic flooding driven by climate change washed away roads and trapped residents in rising floodwaters. >> we've been spending most of the day today helping people that have been stranded by the flooding. >> reporter: officials say search-and-rescue operations are ongoing. the montana national guard has rescued 87 people by helicopter. others are being ferried out by boat. >> my family lives at the end of this road. a couple of friends, too. so they're just pulling out my brother, and it looks like his dogs right now. >> reporter: days of rain and a rapidly melting snow pack pushed the yellowstone river to nearly 14 feet, the highest level ever recorded. >> holy... >> reporter: the ranging waters collapsed this bridge. and washed away victoria and

t.j. britton's two-story home.n. >> it was totally intact for about five or six miles, miles, floating dow floating down the river, and right behind it, there's my bed with my pillow on it. >> oh! >> reporter: more than 10,000 vistors have been told to leave the park, a dangerous trek for some, as this video shows a rock slide narrowly missing a car trying to flee to safety. the park closures come as the tourist season was about to kick off, a popular destination for more than two million visitors each summer. and tonight, some neighborhoods still look like raging rivers, with the current strong enough to lift cabins, like the one behind me, up off their foundation. there is more rain in the forecast later this weekend, which could bring another round of catastrophic flooding. norah. >> o'donnell: jonathan vigliotti, thank you very much. and there's still much more news ahead on tonight's "cbs evening news." dramatic video of the moment officers were caught in a deadly shoot-out. john hinckley, who tried to assassinate president reagan, is

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stabbing at a motel. the suspect was also killed. police cruisers later formed a procession as the officers' bodies were taken to the coroner's office. corporal michael paredes, a 22-- year police veteran, and officed officer joseph santa joseph santana, was a rookie. well, tonight, the man who shot and wounded president ronald reagan in 1981 is officially a free man. john hinckley, jr. was released from psychiatric supervision. a judge ruled he's no longer a threat. well, he's now a musician and he was scheduled to perform in new york next month, but today the venue canceled the show citing concerns about possible backlash. we have a big auto recall to tell you about. ford is recalling 2.9 million vehicles that may roll away after being put in park. there have been four reported injuries. the recall includes vehicles made from 2013 to 2021, to 2021, including the c-max, edge, escape, fusion, and transit connect models. owners will be notified by mail.

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>> o'donnell: in sports, there's nothing like playing in front of your own fans on your own field or court. tonight, cbs' mark strassmann introduces us to one team that redefined home court advantage. >> you can turn and dump it right there. >> reporter: nothing about centennial academy's season was a lay-up. small team, first-time playing together, and their practice gym-- >> it's a small gym. yes. >> reporter: this half court, and barely that, at the neighboring y.m.c.a. >> i was like, wow, is this the gym? >> reporter: it was a resilient group. >> yes. we can overcome that. we've done it in the classroom. we can do it here. >> reporter: centennial is a daily lesson in challenges. one-quarter of the kids in this charter school have battled

homelessness. no home basketball court? >> yeah, it was really rough. >> i think it's motivation, like we need to work harder. we need to beat everybody. >> reporter: despite that short court and long odds, centennial won atlanta's citywide middle school basketball championship. >> these guys that-- they beat the odds. and win it? yes, anything is possible. >> reporter: competitive sports teach resilience. no matter what. >> no matter what. just get it done. >> reporter: but a gym helps. >> yes. exactly, a gym helps. ( laughter ). >> go! >> reporter: centennial just schooled everybody. >> one, two, three! >> centennial! >> reporter: mark strassmann, cbs news, atlanta. >> o'donnell: and congratulations to them. we'll be right back. no matter , being yourself can be tough when you have severe asthma.

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captioned by media access group at wgbh w nation is taking over boston. >> give me your wicked prediction. >> i think it doesn't go back to san francisco. >> a historic win over the man who has been leading ta department for the past 16 years. >> gunfire on a bart train, the fight that lead up to it and the impact it's having on the evening commute. >> the man who helped shape san jose. the man to got to say goodbye to the former mayor. >> and how the bay area's youngest kids could be rolling up sleeves for covid shots.

>> right now, streaming on cbs 7 news. warriors fans are frocking to boston tonight to hopefully witness the end of a win. >> we caught up to fans as they started landing. >> the calm before the storm here. the warriors have a big chance to come home nba chargeons if they can pull off a win tomorrow. there will be a lot of blue. >> here in boston, among the celtics everywhere around town are warriors fans, so are not