Meet the Press NOW — September 16

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1:10Welcome to Meet the Press Now. I'm Kristen Welker, and we begin with devastating news that's very close to home here. We wait an update any minute now from the NTSB on the investigation into last night's helicopter crash in Los Angeles that killed three people, including two of our NBC News colleagues. Our friends at NBC Los Angeles confirmed that photojournalist Eliana Moreno and pilot George Marcino were on board that chopper when it crashed while on assignment covering a deadly bus crash. KMBC anchor Lynette Romero joined the Today Show this morning to remember her beloved colleagues. They're lifelong Angelenos.

1:50George grew up in Burbank. He graduated from Burbank High School. He still lives there. So he has deep roots there. Eliana always wanted to be a news reporter. She graduated from Chapman University with a degree in journalism. And they were both doing what they loved so much. And for me, that's comfort in knowing how happy they were. They loved breaking news and they loved being a news chopper for. Now, one person on the ground was also killed in the crash, according to L.A. fire officials, and two other people were hospitalized. Joining me now from Los Angeles is NBC News national correspondent Morgan Chesky and former NTSB investigator Greg Feith will be with us in just a moment.

2:33Morgan, I want to start with you. This is just so devastating. That helicopter was shooting aerial footage of a fatal bus collision when it crashed. What more are you learning about the circumstances of what happened. Yeah, Kristen, so incredibly heartbreaking to be reporting on a tragedy of this nature. You mentioned that bus crash that took place around 5 p.m. in the community of Chatsworth. And what we've learned on that front is authorities say that an SUV plowed into that bus, killing two individuals there and leaving several others injured, as is the nature of the job. NBC4 launched their chopper that direction to give people, you know, real time information on what was taking place there in hopes of learning more about the potential impact of that story.

3:23And it was shortly around seven o 'clock that it was seen going to the ground there. I should note that we do anticipate learning much more from the NTSB in this upcoming press conference there. The circumstances surrounding what led the helicopter to be going down, still very much unknown. There have been a smattering of witness reports that have come in, some of which, though, are unconfirmed. And that's why we're leaving it to the federal investigators to really just share the latest on this horrific tragedy here that, as you mentioned, impacted our own colleagues, Eliana Moreno and, of course, George Marcineau.

4:01And Kristen, And I should note that just within the last hour or so, we've learned the identity of a third victim that was killed on the ground when that helicopter made impact. He's been identified as a 29-year-old Eddie Gutierrez Mejia, who was near a vehicle when that chopper went down. Kristen. Just devastating, Morgan Chesky. And we've been, of course, watching the reports of our colleagues at NBCLA. How are they remembering their friends, their colleagues there? I know that this is just an absolutely devastating time for them. Kristen, in a singular word, beloved. Both Eliana and George were beloved members of the news team.

4:49Eliana, 2010 Chapman University graduate, joining the team with Angel Air team just shortly thereafter. And she had an incredible passion for the job. And of course, that's been evident in some of the accounts we've heard from other colleagues who worked directly with her. But one specific example just showed her love of being able to relay information from that helicopter. And she said that aerial reporting turns smoke on the horizon into critical information that can save lives and property. And then we have George Marcineau, 1974 graduate of Burbank High School, a local boy who got to follow his dreams right here.

5:27Kristen, here's a guy who is 30 years as a flight instructor, roughly 14000 flight hours. He wasn't only the pilot of that helicopter. He was a mentor, a guide to countless other pilots who have flown over this Southern California area and elsewhere, lending his expertise to help others report critical information to help all of us. Hmm. It's so well stated, Morgan. And, you know, it happens about 50 years after Francis Gary Powers was killed in a helicopter crash in Encino, working as what was known as a telecopter reporter for KMBC, killed with cameraman George Spears, who died in the crash as well.

6:17We cannot overstate that for local news. I was in local news. You were in local news. these helicopters, as you just said, are so critical to our coverage. And these crashes are rare. They are, Kristen, they are. And yet we know that whether you be in a helicopter or reporting in the field, there is an inherent risk. And I think that's why it's so heartbreaking to be reporting on a tragedy of this nature. But to your point, when you look at the countless, and I do mean countless hours that these journalists have spent flying over Southern California, bringing people the very latest information on tragedy, on traffic impacts, on car chases, on some very dark moments.

7:07We know there's no way to know, Kristen, how many people that they have helped through their reporting, through their unique vantage points. And I should add that They are having Eliana in particular. She is having to gather information at an incredibly high rate of speed, looking down and then relaying it in real time. And that is a skill that not many people have. And we've heard that from one account after another from our colleagues at NBC4 who have just shared the impact both Eliana and George had really on everyone there. And I should add, Kristen, that as important as it is to acknowledge their journalistic contributions, the fact that, you know, they were able to kind of dissect the scene so intelligently and in real time, if nothing else, the fact that they were so well liked, that they were such positive presence in the newsroom to whomever they came into contact with.

8:02And you and I know that particularly in this line of work where you have a high rate of stress in an environment that can be less than optimal, having someone that you can count on with a smile as well is just incredibly special. It absolutely is. Morgan Chesky, thank you so much. Please stand by for us because we are going to come back to you once that news conference gets underway. And of course, we will bring that news conference to everyone live when it happens. We are also following breaking news on the most important issue for voters ahead of the midterms, the economy. This afternoon, the Federal Reserve announcing it is raising interest rates, bucking demands from President Trump to slash them.

8:47as the White House faces growing voter frustration over rising prices and higher energy costs fueled by the war against Iran. The vote to raise rates by a quarter percent was unanimous, 12 to zero. It's the first rate hike by the Fed in three years and the first under President Trump's new Fed chair, Kevin Warsh, who defended the move just moments ago. Last month in Wyoming, I expressed my commitment to a monetary policy discipline, not to a decision. I define the standard for action. We must be confident that underlying inflation is moving to our objective, clearly and at sufficient speed. Today, the FOMC decided that this standard has not been satisfied.

9:35Worsh also defending the Fed's independence amid President Trump's intensifying pressure campaign to have him cut rates. A couple of weeks ago, the president sent out a message essentially threatening to cut off trade to certain countries unless rates were lowered. Obviously, an unanimous decision to do the opposite. What would you say to investors who sort of believe this is another test of the Fed's independence? And then kind of when was the last time you spoke with the president? Do you anticipate a post decision meeting or? You gave me a long menu from which to choose. They're all very tempting.

10:07I don't have anything for you on discussions with the president. And I'm not a Wall Street newsletter. Part of the independence of the Federal Reserve is we stay in our lane. Independence is a two way street. We'll let people that do trade policy and fiscal policy stay in their lane, too. That's how we can stand up here and call them the way we seem. On Wall Street, stocks tumbled, the Dow falling more than 600 points. The S &P and Nasdaq also closing lower. Today's rate hikes come as gas prices nationwide remain above a 4.35 per gallon, due in large part to disruptions in the Middle East caused by the war against Iran.

10:48Diesel prices continue to set record highs and oil remains above$100 a barrel. Moody's reporting this week that the Iran war has cost American households more than$1 ,700 on average. It's all driving backlash among voters with just 31%, less than a third approving of President Trump's handling of the economy. That's according to a new Reuters Ipsos poll. Joining me now is our team of reporters, NBC News White House correspondent Yamiche Alcindor, NBC News business and data correspondent Brian Chung, and NBC News correspondent Brian Chandler is at the G20 Energy Conference in Houston and has been speaking to the U.S.

11:25Energy Secretary. Terry, thanks to all of you for being here. Yamiche, let me go to you first at the White House. How is the White House responding to this decision? Any word yet from President Trump? We are awaiting word from President Trump and haven't gotten it yet, but we should all be checking our phones because I'm told that he will likely be putting this on Truth Social, as he does in so many other cases. That being said, we have heard from a top press aide here. He's calling this an unfortunate decision and saying there wasn't a compelling economic case for raising the rates here. He's also saying that essentially that this will make life more expensive for Americans at a time where people are struggling with affordability and that this could hurt the growth of the United States all across the board.

12:06We should also remind folks that you played the sound. The president did say that he would have no choice but to cut off aid with some countries that run a trade deficit with the United States if the feds were to rake were to hike the rate. So we in some ways know that the president was already saying that he was going to do that. It's clear that the president is not going to be happy with this. How that goes forward, how he expresses himself, how that impacts his relationship with the Fed chair. All of those are big questions that we're waiting the answers for. Kirsten, Yamiche, any word on whether he's actually going to follow through on that threat?

12:38As you say, I'll stop trading with countries, he writes, with which we have a deficit if rates are not lowered. The president has said it. We expect that the president will likely stick to that in some ways. We know that this is a president who has really gone on a multi-front trade war against our allies like Canada, against adversaries in other countries. So the president here, I think, is really trying to make the case that he wants the Fed to follow his lead. He, of course, as you know, was so critical of the last Fed chair. It's going to be interesting to see how he takes his case. But he said in that in that post that he would have, quote, no choice but to stop trading with some nations, saying that their rates make it essentially if they put the United States at a disadvantage when it comes to trade.

13:25So that's the president's argument. And we're going to stick to see if he actually follows through with that, Kristen. And Yamiche, let me ask you about something I mentioned at the top. Moody's reporting this week that the war with Iran has cost American households more than seventeen hundred dollars on average. Which, based on your conversations with your sources at the White House, is there concern about that less than 50 days from the midterms? It's very interesting. My sense in talking to sources are that they are really at the White House trying to figure out how to walk this line here. I want to read to you part of what J.D.

13:56Vance told House Republicans on Tuesday. We got our hands on some audio from this meeting and the vice president said, You can talk about these things without pretending that everything is perfect because the American people know that you guys inherited. We inherited a massive pile of dog crap. We have a country where people are frustrated. We have got to level with them. We've got to be honest with with those frustrations. So in other words, the vice president here is saying you have to acknowledge what people are feeling. We have to acknowledge that gas prices are up, that people are paying more for everything from food to their to their leases, to rent, to mortgage rates.

14:31So in some ways, he's saying you can't ignore this problem and in some ways trying to give Republicans a blueprint for how to talk about this, though the president himself has been very clear that he believes he wants to talk about the positive things in the economy and really give himself as much credit with helping people and make things more affordable. So I think it's going to be very interesting to see as the midterms get closer how the president walks this line as well, Kristen. Absolutely. Yamiche, keep checking your phone. We will come back to you if and when you get any reaction there from President Trump.

15:01Really appreciate it. Yamiche, Brian, you were there at the Fed today. How significant is this rate hike? Because, again, we can't overstate this. President Trump was very clear he wanted rates to be lowered. Kevin Warsh was very clear the Fed has to be independent. Yeah. And look, the Federal Reserve under Kevin Warsh, he's only been at this post for a few months now. But in his first few meetings, he was able to stave off any change to the interest rate. But now by hiking interest rates, he does draw himself, for all the reasons you were talking with Yamiche, into the direct sight line of the president that directly wants those rates to be lower.

15:36So let's take a step back and just kind of remind everyone why the Fed decided to raise interest rates today. That was what we expected them to do. The reason being inflation readings have been just too high. The last reading that we got specifically last week was 3.4%. That's how much prices rose in August of this year compared to August of last year. The basic arithmetic, that is above 2. 2 is the target that the Federal Reserve has here. And we've been floating at around those levels the last few months, which means that the residuals of this war, those higher energy prices from the war with Iran, are bleeding into overall inflation.

16:05The Fed wants to raise interest rates, take a little bit of steam out of the economy and hopefully lower that inflation. Can the Fed successfully do that while they also try to navigate the political cross currents? That's the question for Kevin Warsh. Yeah, I think the press conference out of California is going to be starting momentarily. But very quickly, Brian, what might this mean for Americans? Yeah, well, look, I think the overall big picture here is that you're already experiencing high gas prices. You're also experiencing higher mortgage rates now off the expectation that the Fed might not only have to hike interest rates now, but potentially in the future as well.

16:37All right. Thank you so much for being here, Brian Chung. Really appreciate it. And we do want to go out to that press conference, that deadly helicopter crash that claimed the lives of two of our colleagues at NBC LA and one person on the ground. Let's listen. Of our investigation.

16:57I hope you don't mind me referring to my notes On September 15, 2026, about 7 p.m., an Airbus helicopter's AS350B2 with the registration November 358 Tango Victor was substantially damaged when it was involved in an accident in Chatsworth, California. At this time I'd like to extend my condolences for those who were affected by this tragedy.

17:33The helicopter was operated as a Title 14 Code of Federal Regulations Part 91 electronic news gathering flight. It's understand that the helicopter pilot was transporting a local news reporter to cover a traffic accident when the accident occurred. The NTSB and the FAA and our party members will be on scene pretty much all day today gathering factual data from the wreckage. We'll also be conducting witness interviews so if anybody out there believes that they have information regarding either the traffic accident or the helicopter accident, please email us at witness at ntsb.gov. That's witness at ntsb.gov.

18:29The public can expect a preliminary report on this helicopter accident in about 30 days, followed by a final report with a probable cause which depending on the circumstances of the accident can go out to about 18 months. It's important to share with everybody that the NTSB will not be looking for a probable cause while we're out here today or tomorrow. With that being said I'd like to thank the local law enforcement and the local fire department and those around from the community that have assisted us and helped us with this investigation thus far. And that's the conclusion of my brief. I'll be happy to take a few questions prior to me choosing you.

19:23Would you mind identifying yourself and your affiliate? Sir. Carter Evans with CBS News. There was video from the helicopter as it was going down, as well as audio. How is that going to factor into your investigation? Well, sir, I'm glad you brought that up. That video that you're asking about, you're asking about the video that was actually taken while the reporter was doing a live coverage. That video is probably the most important evidence that we have discovered so far. And what we are going to do is get a pristine copy of that recording and send it to our recorder's lab for a sound spectrum analysis.

20:05because in that recording we are clearly hearing sounds that are consistent with the engine changing its speed. And we're also hearing tones that are being generated that are likely advisories to the pilot. So it's important that we get that recording to our lab so that they can be downloaded and we can get to that factual evidence that way. Any data recorder on that helicopter? Not that I'm aware of. However, we're still coordinating with the owner and looking. Sir. Yes, sir. Are we working on an assumption that the aircraft may have been an out-of-hover, out-of-ground-effects hover at the time of the accident itself?

20:50Number two, the wreckage itself. Is everything there more or less in a position to do proper analysis with it, or is the fire and the impact is going to be on the ability to probably answer? Okay, you're asking about the helicopter possibly being in an out-of-ground-effect hover. A helicopter in an out-of-ground-effect hover is hovering a little bit more than, at least a little bit more than his rotor diameter. So we need to gather video footage, witness footage, to find out how high that helicopter would be to even determine if it was in an OGE hover. Your second question, would you mind, oh, your second question involved the wreckage.

21:28Well, I will tell you this. We are combing the wreckage to the best of our ability to gather as much factual data as we can, even though the wreckage did suffer through a post-accident fire. How soon do you already have mechanical records on maintenance for this particular ship? Has the owner provided those to you, or are you about to get them? You're asking about the maintenance records for the helicopter. The owner is in possession of the records and is turning over those records to the investigation. Yes. Yes, sir. Now in terms of the NBC Los Angeles, what steps will you be taking here over the next couple of days as you assess this case?

22:07I'm glad you asked that. You're asking the steps that we're going to be taking. So today, as I mentioned earlier, we are doing the field portion of the investigation. That is, we're on the accident scene gathering as much factual data as we can. From there we'll have the helicopter removed to a secure facility where we will continue to examine and pull factual data from that wreckage. That together with looking at the maintenance logbooks and looking at weather, looking at the pilot's training, will help us continue with the factual gathering. Ma 'am.

23:03I will tell you this, you were asking about more specifics on to the actual accident itself. That's an area where we're actually continuing to gather factual data. We know the buildings close to the accident scene had security cameras, so we're working with the owners to secure those security cameras. We're working towards interviews with witnesses, and in gathering that factual data, we'll be able to paint a better picture of the actual accident sequence. Yes, sir.

23:58Okay. You're asking about the different types of accidents, or correction, the different types of emergency procedures a pilot would respond to. I would say they fall into two general categories. That is emergencies that require immediate and instinctive action by the pilot or an emergency that allows the pilot the luxury of some time so that he can gather information, assess that information, and choose the best outcome. Pilots are trained so that whenever either one of those type of emergencies pop up, they're prepared to react to it. One more question. Yes, sir. The incident in Texas a few years ago, the NTSB asked for new protocols, new engines for helicopters, for TV stations.

24:49Do you think that something is going to change now? Well, you're asking me about potential changes. Yes, you're asking me about potential changes based off of this accident. I will tell you this. The NTSB investigates accidents to find out what happens, why it happened, and what recommendations we can make to the appropriate entities so that it doesn't happen again. Mr. Salazar, based on that, would the NTSB be able to make recommendations to change flight operational protocols for how news helicopters operate, meaning staggered altitudes, expansion area from the point where they're photographed.

25:29Can you make those recommendations? Will the FAA then have to make a decision? We're going to implement it. You're asking me about... That's a tough question for me to answer. Let me fully understand it. Would you mind repeating it? The bottom line on this, after you guys make the determination of what happened, will you be able to make some recommendations to the FAA itself on how news operations and helicopters should operate, meaning staggered altitudes, distance away from the point they're doing. Literally, you know, guys, you're going to be at 800, you're going to be at 1 ,000, you're going to be at 1 ,300.

26:02I think you're giving me good examples of what our intention is, and let me explain that. We're going to go through this accident investigation in particular. Hypothetically, if we come across an issue that needs to be addressed through regulation, we have the FAA right here as part of the investigation team. So if we discover a problem that needs to be addressed immediately, they're right there discovering it with us in real time. Now, if the NTSB chooses to make a safety suggestion for small change or a safety recommendation for big change, we will take that recommendation to the most appropriate authority.

26:47Mr. Salazar. Yes, ma 'am. With your years being a helicopter pilot with the 10 years experience plus, can you talk about hypothetically if an engine was to stall then in the helicopter, what you would do as a pilot? What are the precautions or the steps in place to then get it safely to the ground? You just walk us through what is it? Okay, you're asking me what a helicopter pilot would do if an engine quit. Right. Let me get to the specifics of this accident. We're still in the factual gathering stage, so we would need to gather all the factual evidence and be confident that we've got all the factual evidence before we then step into the analysis and then step into the possibility of making suggestions.

27:33Now, hypothetically, just out there, if a helicopter pilot is flying and experiences an engine failure, the pilot would react to it most likely by entering an autorotation and landing the helicopter hopefully safely to the ground. Do you know the altitude that they were flying at when this incident occurred? You're asking me about the altitude that this aircraft was flying when the accident occurred. I can't give you a specific value at this time. I've got to gather the video footage, gather the witness statements, and then and only then start looking at those type of answers. I ask because I'm wondering if we find out later they were around a thousand feet or so.

28:21Technically, is that enough elevation to safely autorotate? Generally, you're asking me about a thousand feet being a sufficient altitude for autorotation. Generally speaking, pilots are trained to conduct autorotations from a hover, which may be just three to four feet off the ground, to any altitude above that, including and above 1 ,000 feet. Any other questions? Yes, sir. Nick Garcia, Marshall, in general, can you tell us about the timeline for NTSB investigators to get to a craft scene like this? Why do it usually take the next day or at least several hours? You're asking me about the response time for NTSB investigators to get to an accident scene.

29:03That's going to vary. I will tell you that the NTSB is comprised of four regions, eastern region, central region, west Pacific region. California falls within the west Pacific region of the NTSB. There's also Alaska. On any given week, there are at least four safety investigators on call, and they're prioritized one through four on who's going to launch out first. As soon as an accident occurs where there's a fatality involved, the NTSB will send an air safety investigator to that fatal accident scene. And we try to get there as soon as we possibly can. And sometimes it may take just a little bit of time.

29:48Yes, ma 'am.

29:53You have been listening to NTSB investigator, the investigator in charge, Fabian Salazar, talk about that deadly helicopter crash that occurred yesterday, claiming the lives of two NBC LA teammates, Eliana Moreno and George Marcino, as well as someone who was on the ground, a passerby. You just heard investigator Salazar say that they anticipate and hope to have a preliminary report within the next 30 days. The final report, which would include probable cause, could take as long as 18 months. He said right now they are starting to put the pieces together of what happened. He said that that video captured by the helicopter itself will be, in his words, the most important evidence we have so far.

30:48He was also asked if perhaps the helicopter was in an out-of-ground effect hover. He said we need to gather more footage before we can determine that. He said the top steps today will include pulling through the wreckage, going through everything on the ground, security cameras, as well as interviewing and speaking to witnesses. With that, I want to bring back NBC's Morgan Chesky, as well as former NTSB investigator Greg Feith. Morgan, let me go to you first. What did I leave out? What other facts stood out to you from what we just heard from the NTSB investigator in charge? Kristen, I think one of the biggest facts shared here is that it will take some time before we really know what happened inside that helicopter when it fell and crashed inside that Chatsworth parking lot yesterday evening around 7 p.m.

31:41with two of our beloved colleagues inside. the NTSB investigator did acknowledge the fact that there were multiple witness accounts on the ground there from different angles. And he encouraged people to come forward to hopefully shed more light on the final few seconds that that helicopter was in the air. You mentioned the variety of issues that may have contributed to its loss of altitude that, you know, in ground effect being compared to the out of ground effect, that in ground effect, Kristen is essentially when the helicopter is hovering just a short distance above ground, you have a cushion of air.

32:16And as the helicopter rises, it needs even more power to really begin ascending skyward as it goes into the out of ground effect. That's going to be something that they're going to be taking a very close look at, particularly when they compare those witness accounts to that video you mentioned, which the NTSB investigator said you could hear the audio of of warning tones of some kind appearing to go off before the transmission cut out there again with Eliana Moreno and George Marcino inside that helicopter when it went down around seven o 'clock yesterday. Thirty days from now, Kristen, that preliminary report.

32:56But again, it could be a year. It could be even longer before that final report comes out. So now all eyes go to about a month away to see what, if anything, we could learn at that point here. Kristen? Yeah, undoubtedly a lot of anticipation as everyone awaits that initial report. Greg Feith, let me turn to you. What were your key takeaways from what we just heard? Again, as Morgan rightfully says, you heard from the investigator there. They are going to be very cautious before releasing any information. Absolutely, Kristen, because they work on facts, conditions and circumstances, and they want to verify the facts before they release those facts.

33:36There's a lot of very subjective information out there, even the audio and video coming from the helicopter, because you can build storylines around sounds and comments. The young lady or the reporter that was in there made a comment about, can't you pull up or pull up, which, again, will lead investigators to be looking at the aircraft performance. Was there a mechanical malfunction or failure or anomaly with the engine or its component parts? Or was this purely a performance issue where Morgan was talking about in-ground effect and out-of-ground effect? that is aircraft performance when you're sitting static or in a in a hover like most electronic news gathering helicopters do where they're stationary over a particular scene.

34:25And now you get into your own rotor wash, the aircraft can descend uncontrollably and the pilot really has no ability to stop that descent. So these are the factors that the NTSB will start to ferret out. And you heard the NTSB investigator there asked about what should happen if there's an engine failure. For example, Greg Feith, what did you make of his response? And is it possible to save a helicopter if there's an engine failure? It is possible because that's what pilots are trained to do. They go into auto rotation. However, the fact is, is that they're already at a low altitude. So entering autorotation.

35:09And you've got to remember that the lift, unlike the wings on a fixed-wing aircraft that create lift to cause the airplane to fly on a helicopter, it's the rotor system, the main rotor system. That's what creates lift, and you have to keep it turning at a certain speed. If it slows down and it's incapable or incapable of generating sufficient lift to support the weight of the helicopter, the helicopter is literally going to fall straight down. gravity is going to take over. So entering autorotation, you literally have to drop the collective and keep that rotor system turning. The hard part is if you don't have a lot of altitude, you don't have a lot of distance to be able to create the lift necessary to support the helicopter and control it.

35:52Well, so many people mourning the loss of these lives today. Thank you so much, Morgan and Greg. We really appreciate it. We will, of course, continue to follow this devastating story. Bring you any updates as we get them and as we await that preliminary report in the next 30 days. Coming up next, we'll turn to midterm politics and the intensifying fight for Senate battlegrounds. Michigan's Democratic candidate, Abdul El-Sayed, huddles with party leaders in Washington as President Trump hits the trail for North Carolina. Stay with us. You're watching Meet the Press Now.

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38:00Welcome back. Less than two months to the midterms, and right now, both parties are looking to bolster candidates in must-win Senate races. Today, Abdul El-Sayed, Democrats candidate in Michigan, met with Democrats at the party's Senate campaign headquarters right here in Washington, afterwards sharing his message to the skeptics in the party. We have an opportunity to take back those gavels. We have an opportunity to win the Senate majority. And when we do, we can hold Donald Trump accountable for all the things he's perpetrated upon the American public and Michiganders. And we have the opportunity to start legislating on the things that all of us, whether we're still running like me or folks who ran and won are here to do.

38:41And, you know, we are united in so much more than people like to point to that that seems to divide Democrats. Senators in attendance echoing that message, telling reporters the party is unified around al-Sayed's candidacy despite its prior divisions. Well, we're going to win Michigan. Abdul is a really good candidate. I'm really excited for him. I'm all in and I think my colleagues are all in. Mike Rogers would just be a rubber stamp to Donald Trump and Abdul will get strong support in the state from Democrats and independent voters as well. It was a great meeting. Here's a man who talks every day about the high costs that American families are facing and the corruption that is Washington and Donald Trump.

39:26It's what he's it's the life he's lived. Now it comes as our friends at the Cook Political Report moved another must win state for Democrats. New Hampshire in Republicans' direction. That means two of the three seats Democrats must defend are now basically coin flips. Meanwhile, Republicans also playing defense. President Trump is set to campaign in Battleground, North Carolina tonight, looking to boost Republican candidate Michael Watley, who faces popular former Democratic Governor Roy Cooper. The Washington Sun reports the president will also hit the campaign trail in Ohio in the coming weeks.

40:02As some Republicans tell NBC News, they're concerned about Senator Houston's chances against former Democratic Senator Sherrod Brown. All of it as voters say they broadly lean toward voting for Democratic candidates heading into November. That's according to brand new polling that will break down. Joining me now from Capitol Hill is Julie Serkin. So, Julie, let's start with that meeting between Senate Democrats and Abdul El-Sayed. What were your key takeaways? ways. Well, certainly it was a different vibe than I felt on the ground when I covered his primary against Haley Stevens. That kumbaya moment certainly didn't exist then, but it's something Democrats are trying to portray now.

40:38That's why he was invited. According to a source that I spoke to, Senator Slotkin, Senator Peters brought him here, told Senate Democrats behind closed doors yesterday that it's time to get around Abdul Al-Sayed so they can actually win in November. Michigan is such a critical seat. But one key meeting that I'm still waiting to hear if it happened is the meeting that he would have with Senator Chuck Schumer. This is somebody who didn't endorse him in the primary. We know that he and his allies spent money against him. And now I'm told he expects that meeting to be friendly. But when El Sayed was asked if he would endorse Schumer for leader, he didn't answer.

41:12So a lot still to watch in that space. But certainly this is a moment Democrats are trying to coalesce around, trying to put aside their differences so they can win in November. Yeah, fascinating moment there, Julie. Meanwhile, we talked about the fact the president set to campaign for Michael Whatley tonight in North Carolina. We're seeing a little bit of shift on messaging when it comes to the economy from Republicans. What are you watching there? We are. I mean, just look at this rate hike today, right? It was driven by Iran, the inflation that has caused to gas and oil prices going up. And Republicans are definitely worried about it.

41:43Even a month ago, I was told that they wanted Trump to stay on message, to focus more and to speak to the concerns that Americans are having at their kitchen table when they're talking to folks. Speaker Johnson spoke about this today just a little bit before he sent members home early. Take a listen to what he said. We're going to acknowledge, obviously, gas prices are too high right now. Diesel prices are too high. Gas prices will immediately come down again. The cost of groceries will as well, because that's tied in many ways to the cost of transport and getting the goods to the market. And so that Iranian situation, the Strait of Hormuz, as soon as that's resolved, it comes down.

42:18That situation, that war that has now been going on for seven months where there's no end in sight. Speaker Johnson, though, Kristen, like I mentioned, sending members home early, saying they need to make the case to voters back home. But he sent them home early, right after Congressman Thomas Massey forced a resolution to try and impeach Secretary Pete Hexeth. Johnson called that a stunt, but now they're going to have to take it up after the midterms. Kristen? All right. Delaying that vote there. Julie Serkin, thank you so much from Capitol Hill for the big picture. Joining me now, our panel, NBC News national politics reporter John Allen, Kendra Barkoff, former press secretary to then Vice President Biden and former Florida Republican Congressman Carlos Corbello.

42:58He's also an NBC News contributor. Thanks to all of you for being here. John, let's start with these new numbers that we are getting on the generic ballot. You're seeing Democrats really pull ahead seven, eight point advantage, depending on which poll you're looking at. But bottom line here, outside the margin of error. What do you make of these numbers as we're less than 50 days till the election? Well, I think the Democrats would rather have these numbers in early November than mid-September. But look, I just traveled across the country through a bunch of swing districts, as you know, as we talked about while I was doing it.

43:34What I've seen is tremendous enthusiasm on the Democratic side and even hardcore Trump voters being critical about the Iran war and inflation. And this unmatched enthusiasm is an issue for Republicans, as is the willingness for some Republicans to switch over and vote for Democrats in House races. Right now, you know, you call the election today, the Democrats are in a pretty good spot. Check back in a couple months. Yeah, well, and I think you hit the key point, which is the timing of all of this. You, of course, were on the ground. Your interviews were fantastic. Kendra, it is still relatively speaking early.

44:11I I mean, we're inching closer to the home stretch here. But what do you make of these numbers? And what do you make of John's point? Like, is it a little too early to peak? It is early to peak. I don't know if I would call it peaking per se. But what I want to say is diesel prices are extremely high. And there is no amount that those can come down enough before the election. We just heard Speaker Johnson out there talking about how the goods and prices will go down as we get, you know, the war in Iran wraps up and gas prices goes down. I still think that diesel prices are not going to be able to go down.

44:43And that's going to be a big problem when truckers can't get the things they need to get across this country to fuel the economy in the way that we know that it needs to be fueled. Congressman Corbello, I want you to respond to that and also respond to this polling. This shows you a matchup of how voters feel about each party issue by issue. And if you go and you can see it right there, it's a lot of blue. The only issue where Republicans have a very narrow edge is AI and data centers. Carlos Corbello, what do you make of those numbers and the high gas prices that Kendra's talking about? Yeah, well, Kristen, the most shocking number to me here is the immigration issue.

45:22I mean, if you look back two years ago, the Biden administration was in disarray. There was absolute chaos in the southwest border. The president won a race on the economy and on immigration. And now Republicans have handed back that immigration issue to Democrats because the interior enforcement is just so aggressive that it not only has lost support among Hispanic voters, which were a key part of the president's 2024 coalition, but also to a lot of other voters who just don't like the nature of some of these policies. So, look, I've been on the Hill the last couple of days and there's certainly some 2018 vibes there, which, of course, was the first Trump midterm where Republicans lost over 40 House seats.

46:06The difference is this time is there are fewer competitive districts. So you could see Republicans outperform. But on the other hand, the economic pressures are much sharper this time around than they were in 2018. The economy was actually in pretty decent shape in 2018. Interest rates were low. Oh, inflation was not an issue. Different story right now. Kendra, let me just go back to you, because on that point about immigration, I mean, what do Democrats need to do to harness that momentum to make sure that they hold on to the lead with immigration? Which, as Congressman Corbello is saying, is pretty extraordinary, given that Trump's really had the lead on that issue for years now.

46:42Yeah, I mean, I think if Democrats continue to talk about the issues like affordability, like gas prices, like grocery prices, I think those are the things that have really resonated with the American voters. And if they stick on that message as a as a collective group, I think that all of these things are probably going to stay in the blue line where they are, no matter what the issue is down the line. It's interesting, John. We, of course, had Abdul El-Sayed meeting with Democratic senators today. And again, Julie kind of described it as a kumbaya moment. I want to play a little bit of what Senator Dick Durbin had to say after the meeting.

47:23Are you at all concerned about these Republican attempts to tie al-Sayed to Democrats across the country? There was a time when the Republicans tried to tie Democrats to a man who was saying it was Barack Hussein Obama. It didn't work. American voters are smart enough to ask the hard questions and make their own decisions about whom they're going to support. John, this Michigan race is so fascinating for a range of different reasons. But Democrats are trying to come together to rally around Abdul El-Sayed, a progressive candidate. When he was on Meet the Press, he said, I'm a capitalist when I asked him if he was, in fact, a socialist or a condominist, as President Trump has said he is.

48:04But what do you make of the state of play right now? Because Republicans initially were quite happy to have Abdul El-Sayed as the nominee. And now it's getting pretty competitive. Yeah, I mean, Democratic politicians want one thing, and that is for the Senate to be in Democratic hands. So if you're Chuck Schumer and you're meeting with Abdul El-Sayed, you're not going to talk that much or worry too much about whether you agree on Israel having a right to exist or whether you agree on Medicare for all. I mean, these are huge issues that they disagree on. But what they really want to do is have that vote for majority leader.

48:36And if Abdul El-Sayed wants to vote against Chuck Schumer in that closed ballot and go tell everyone that he voted against Chuck Schumer, Chuck Schumer will be perfectly happy with that if he is the majority leader. That's a great point. Kendra, let me ask you, because this is going to be the test of these midterms. Can these progressive candidates like an Abdul El-Sayed win in a purple state like Michigan? And it remains to be seen. It's still arguably uphill because he's got to win over independents. He's got to win over moderates, even though the polls show he's closing pretty strong so far.

49:10I mean, there's two Democratic senators there now. Obviously, it is a purple state, but there are two senators that are Democratic now. And if he continues to talk about the issues that really matter to the voters, I think that he has a very good chance of doing that. I think you saw Mark Kelly go out there today and talk about he's going to come to Michigan and campaign for him. The Democratic Party is very much galvanizing around this candidate. And if you have people like, you know, former presidential candidates or senators who are not as, you know, capitalistic as he calls himself, go out there and campaign with him in Michigan.

49:45I think he's going to do just fine. Congressman Curbella, what did you make of the fact that the Cook Political Report moved New Hampshire from lean Dem to toss up? Yes. Sununu's got a lot of name recognition. I mean, it shows that even in a tough political environment, candidate quality matters. And Sununu is a known name. He's got universal name ID in New Hampshire. And this is where sometimes parties that are facing very difficult circumstances can outperform, can surprise. And by the way, that could be the difference, Kristen, in who controls the Senate or not, a state like New Hampshire, like Michigan.

50:22I think Michigan is a nightmare for Democrats, but Republicans have their own nightmare in Texas. So to both parties defending seats where they were hoping they could just coast. I was just thinking the nightmare midterms. I do want to say one other thing, though, about the about the people who are going to campaign for El-Sayed. And the reason that they're doing that is for themselves, because they want to have been seen as on the right side of this as they start to think about 2028. All right. Well, so much to watch. Thank you so much for a great conversation. John, Kendra and Carlos really appreciate it.

50:53And still to come, President Trump just responded to the Fed's decision. We're going to bring you that response along with my interview with the top economist. Keep it right here on Meet the Press now.

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52:41Welcome back. President Trump has just issued his first reaction to today's interest rate hike. Posting online just moments ago, quote, interest rates in the United States should be one percent or less because we are the best credit in the world. By far, our country is booming with new investment. The Fed raised the interest rate to fight inflation fueled by rising energy prices amid the war with Iran, even as the administration is telling NBC News relief is coming on those high prices. NBC's Ryan Chandler sat down with Energy Secretary Chris Wright earlier today. Take a look. When can Americans expect relief?

53:15We're doing everything we can to expand American refining capacity. This is a problem of refineries even more than it is a problem of oil prices. We have also the Russia-Ukraine war. Ukraine has been knocking out so much Russian refining capacity that a nation that used to be a large exporter of diesel is now a small importer of diesel. So it is a problem. It would appear, you know, the Russia-Ukraine war has been going on for four and a half years now, but gas prices only got this high after the start of the Iran war and the restrictions that that is having on supply. Can you give Americans any reassurance that prices may fall in any given timeline?

53:54Yeah, well, one correction to that gasoline prices were higher four years ago in the summer during the Biden administration at the start of the Russian-Ukraine war. No interruptions in refinery then, just an energy subtraction mindset and an all of government attack against oil and gas. But we want to see them reversed as soon as they can. We I hesitate to say we have a lot of good things going on that should put downward pressure on in the coming weeks and months. But we have a challenging geopolitical situation right now. And it is absolutely essential that we do not have a nuclear armed Iran.

54:31Joining me now is former chairman of the Council of Economic Advisors under President Biden, Jared Bernstein. He was also chief economist and economic advisor to President Biden when he was vice president. Thank you so much for being here. It's great to be with you. Really appreciate it. I want to get your overall reaction to the rate hike and to President Trump's statement. He made it very clear he thinks rates should be lower, but he didn't directly attack Kevin Warsh. Well, first of all, I believe Kevin Warsh and the Fed did the right thing today. Going into this meeting, market probabilities were that the Fed would hike north of 90 percent.

55:06And there might be a time when the Fed wants to surprise the markets. Today was not a time like that. And in fact, what we saw were that bond yields, the interest rate on bonds, actually stayed pretty steady after the rate hike, meaning that they'd already priced it in. As far as the president's concerned, I think Chair Walsh was trying to signal him in two ways to kind of back off a little bit. One was it was a unanimous vote. The whole committee voted for this rate hike. So it's not like the president could say, why don't you join with those other folks who didn't want to go that way? And secondly, Walsh really leaned into strong economic growth as a rationale that this strong economy, he didn't say this strong Trump economy, but that's what he wanted the president to hear.

55:51This strong economy can handle a rate hike. Well, it's fascinating to hear your perspective on that, because I think a lot of people saw the unanimous vote and thought, wow, that's pretty striking. What do you make of what we saw in the market today? Initially, the Dow didn't really react, but then it did drop. I believe it was about 600 points. Correct. So initially steady because, again, this was predicted that everybody thought would happen. What the heck sent the market down after that? I think it was that in the presser when Warsh comes, Chair Warsh comes out and talks to the media, he was more hawkish than they expected.

56:27That is, he kind of leaned into this argument. He kept saying the plain fact is that inflation is too high, which, by the way, is a true and plain fact. So good for him for saying that. But stock markets don't like to think that there are more interest rates coming down the road. And when they hear him leaning that hard into his inflation fighting role, they get worried that maybe this is going to put more downward pressure on future growth and equity prices. Overall, how do you assess the strength of the economy right now? People are paying more for gas. They're paying more for diesel, which, as you know, drives up prices on food products and just about everything?

57:08How do you assess this? Let me explain this in a way that I hope will resonate with listeners. The U.S. economy is doing pretty well, except for most of the people in it. And by that, I mean the top line indicators, which is exactly what Chair Walsh ticked through today. GDP growth might be 3 % this quarter. That's good. Productivity has been strong. Of course, AI is booming in terms of investment. The market's been up. But people are facing the kind of price pressures, affordability pressures, precisely as you described. And these are very much a result of own gold kicks by the Trump administration, whether it's the tariffs or the war in Iran, especially at the gas pump, but also at the grocery, where many of these kinds of problems filter into those prices, too.

57:52I want to ask you about the impact of the war with Iran. If we could put that graphic back up, it shows the average American family spending$1 ,700 more. That's according to Moody's, which is just really striking. If you were in this administration, how would you address these costs? That's a great question. And that's a really important number. I would say the following, because I've worked for numerous presidents and they've all said, why do I get blamed for high gas prices? Damn it, it's a global price. It's not my fault. This time it's your fault, right? So he could actually make that number change, which most presidents could never do because they really can't affect the global oil price unless they decide to start and prosecute a war that's in the choke point for energy delivery for the global market.

58:43So this is a rare case where the increase in energy prices really do fall at the president's feet. Let me get your reaction to what we're hearing from the administration. Vice President J.D. Vance, according to NBC News, talking to House Republicans yesterday and reportedly said this. We inherited a massive pile of dog crap and we have cleaned it out and we have made things a lot better. But Rome wasn't built in a day. Your response. I think the statute of limitations on them blaming others for the situation they're in has has expired. And I don't suspect anyone hears those words and feels very assuaged by them.

59:19OK, Jared Bernstein, thank you so much for joining us on a big day when the Fed raised rates. President Trump responding. Really appreciate your perspective very much. We are back tomorrow with more Meet the Press Now. There's much more ahead on NBC News Now.

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