DETAILS ON THAT. COMING UP IN FOR A BEAUTIFUL WEEKEND.
DETAILS ON THAT. COMING UP IN JUST A COUPLE OF MINUTES. DEATH MARK, THANK YOU, MIKE.
>> THERE ARE NEW DETAILS IN A
DEADLY SHOOTING THAT HAPPENED
AT A LOCAL MARTIN LUTHER KING
JUNIOR GATHERING. WITNESSES ARE
SHARING WHAT THEY SAW MOMENTS
BEFORE THOSE SHOTS WERE FIRED.
THOSE DETAILS RELEASED THE SAME
DAY A SUSPECT WAS ARRESTED IN
THE CASE. 18 YEAR-OLD OLD
LAWLESS DIDN’T SAY MUCH AS HE
WALKED PAST OUR CAMERAS.
BUT AN AFFIDAVIT IS SHEDDING
SOME LIGHT ON THE CASE IN A
MOTHER TOLD POLICE SHE
RECOGNIZE WELL AS FROM AN
APARTMENT COMPLEX WHERE SHE
USED TO LIVE. SHE TOLD POLICE
WALLACE WITH WALKING
SUSPICIOUSLY WITH A GUN UNDER
HIS LEFT ARM BEFORE HE STARTED
SHOOTING. POLICE SAY THEY STILL
DON’T KNOW WHY WAS FIRED INTO A
CROWD OUTSIDE A BAR ON SPRAGUE.
STILL 5 PEOPLE WERE SHOT.
ONE OF THEM DIED.
>> NOT A CRUCIAL DECISION TODAY
THAT THE MARKETS WILL BE
WATCHING CLOSELY. WALL STREET
HAS BEEN ON A ROLLER COASTER
LATELY WITH WILD SWINGS UP AND
DOWN.
>> TODAY THE FEDERAL RESERVE IS
EXPECTED TO TAKE ACTION.
ABC’S MONA KOSAR ABDI HAS THE
DETAILS.
>> THIS MORNING, A MAJOR CHANGE
LIKELY TO COME TO YOUR MONEY.
THE FEDERAL RESERVE IS EXPECTED
TO ANNOUNCE ITS RAISING
INTEREST RATES FOR THE FIRST
TIME IN 3 YEARS. IN RESPONSE TO
SOARING INFLATION AND AN
OVERHEATED ECONOMY. LET’S NOT
GET TOO NERVOUS. RATES ARE
STILL HISTORICALLY LOW THERE
NEAR 0%, BUT IT COULD BE ENOUGH
TO TO RATTLE INVESTORS AND
CONSUMERS. THE RATE HIKE WOULD
COME AS SOON AS MARCH. SOME
ECONOMISTS SAY THE FED IS
MOVING TOO LATE TO FIGHT
INFLATION. OTHERS SAY THERE’S A
RISK THE FED COULD ACT TOO
AGGRESSIVELY. WELL, THAT WILL
EVENTUALLY STABILIZE PRICES
FOR CONSUMERS. IT ALSO
INCREASES THE COST OF BORROWING
AND MAKES IT LESS DESIRABLE TO
BUY RISKY THINGS LIKE STOCKS
FOR PEOPLE HERE ON WALL STREET.
AND THAT HAS LED TO THIS
VOLATILE MARKET. WE’VE SEEN
RECENTLY OVERNIGHT STOCK
FUTURES WERE UP SLIGHTLY AFTER
ANOTHER VOLATILE DAY ON WALL
STREET. THE DOW PLUNGING 800
POINTS AT ONE POINT TO THE
DEGREE OF SENSITIVITY THAT
MARKET PARTICIPANTS HAVE.
>> TO WHAT IS GOING TO BE THE
NEW RATE ENVIRONMENT. EXPERTS
SAY SUPPLY CHAIN ISSUES ARE
ANOTHER FACTOR. THE FED IS
CONSIDERING BEFORE RAISING
RATES WHEN YOU’RE DEALING WITH
SHORTAGES OF SEMICONDUCTORS
MAKING THE ECONOMY GOES SLOWER
IS NOT THE BEST WAY RIGHT TO
ACTUALLY ADDRESS THOSE KIND OF
ISSUES. THOSE KINDS OF
SHORTAGES ACROSS THE COUNTRY,
THE SUPPLY OF CRUCIAL
SEMICONDUCTORS IS NOW
ALARMINGLY LOW, ACCORDING TO A
COMMERCE DEPARTMENT SURVEY,
IT FOUND COMPANIES USING THE
COMPUTER CHIPS ARE DOWN TO
FEWER THAN 5 DAYS OF INVENTORY.
A SHARP DROP FROM THE 40 DAYS
OF INVENTORY THAT WERE TYPICAL
IN 2019. THE AUTO INDUSTRY HAS
BEEN HIT HARD BY THE CHIP
SHORTAGE. BUT GENERAL MOTORS
TUESDAY ANNOUNCING THE SINGLE
LARGEST INVESTMENT IN THE
COMPANY’S HISTORY. IT’S POURING
NEARLY 7 BILLION DOLLARS INTO
ELECTRIC CAR AND BATTERY
PRODUCTION AT SITES IN
MICHIGAN. AS FOR INTEREST
RATES, SOME EXPERTS PREDICT THE
FED COULD RAISE RATES AS MANY
AS 4 TIMES THIS YEAR TO CURB
INFLATION. MONA KOSAR, ABDI.
>> ABC NEWS, NEW YORK.
>> U.S. REPRESENTATIVE HENRY
CLAY ARE SAYS HE TOOK PART IN
NO WRONGDOING AFTER FBI AGENTS
LAST WEEK SEARCH NEAR HIS HOME.
THE 9 TERM DEMOCRAT SAID IN A
VIDEO POSTED THAT HE WAS FULLY
COOPERATING WITH LAW
ENFORCEMENT BUT PROVIDED NO
DETAILS. THEY ARE HASN’T BEEN
CHARGED WITH A CRIME IN THE FBI
HAS SAID NOTHING ABOUT THE
SCOPE OF ITS INVESTIGATION.
QUAY ARE SERVES ON THE POWERFUL
HOUSE APPROPRIATIONS COMMITTEE.
HE WAS OUTSPOKEN IN BLAMING
NATIONAL DEMOCRATS MOVE TO THE
LEFT DURING THE 2020 CAMPAIGN
ON ISSUES LIKE HEALTH CARE AND
THE ENVIRONMENT AS CONTRIBUTING
TO SOME DISAPPOINTING LOSSES
IN THE U.S. HOUSE.
>> U.S. COAST GUARD RESCUE
CREWS ARE SEARCHING FOR 39
PEOPLE AFTER A BOAT CAPSIZED
SATURDAY NIGHT OFF THE COAST
OF FLORIDA. A GOOD SAMARITAN
TOLD AUTHORITIES HE RESCUED A
MAN WHO IS CLINGING TO A
CAPSIZED BOAT ABOUT 45 MILES
EAST OF FORT PIERCE INLET.
THE FOR DRIVER SAID HE HAD LEFT
THE BAHAMAS WITH 39 OTHER
PEOPLE
SATURDAY NIGHT ENCOUNTERED
SEVERE WEATHER WHICH CAUSED THE
VESSEL TO CAPSIZE. HE SAID NO
ONE ON BOARD WAS WEARING A LIFE
JACKET. COAST GUARD OFFICIALS
BELIEVE IT WAS HUMAN SMUGGLING
ATTEMPT. THEY’RE SEARCHING THE
WATER FOR POSSIBLE SURVIVORS.
>> DAVID ORTIZ JOINING THE
NATIONAL BASEBALL HALL OF 5
FAME, THE FORMER RED SOX STAR
KNOWN AS BIG POPPY, WAS ELECTED
TUESDAY DURING HIS FIRST YEAR
OF ELIGIBILITY. ORTIZ WAS THE
WORLD SERIES MVP BACK IN 2013
DURING THOSE GAMES, HE HAD A
JAW DROPPING BATTING AVERAGE OF
6.88 AND ALSO HELP THE RED SOX
WIN THE WORLD 4 AND ’07, 2.
FORMER SERGEANT BILLY DID NOT
MAKE INTO THE HALL THIS YEAR.
BARRY BONDS AND ROGER CLEMENS.
THIS WAS THE LAST YEAR OF
ELIGIBILITY. BUT RUMORS OR
PERFORMANCE ENHANCING DRUGS
APPEAR TO HAVE LOST HIM.
THE HONOR. BUT BONDS AND
CLEMENS ARE NOW NO LONGER
ELIGIBLE FOR ELECTION TO THE
HALL OF FAME UNLESS A SPECIAL
COMMITTEE BRINGS THEIR NAMES