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Cipollone Might Agree To Transcribed Interview With 1/6 Committee; Key Inflation Measure Shows Prices Held Steady In May; Biden Reaffirms NATO's Commitment To Support Ukraine For As Long As It Takes; Biden: Russia Is Paying A "Very Heavy Price" For Ukraine War; Biden: "I'm Not Going To Ask" Mideast Countries To Increase Oil Production During Trip; Unserved Arrest Warrant Found In Emmitt Till Murder Case. Aired 2:30-3p ET

Aired June 30, 2022 - 14:30   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

[14:30:00]

ALISYN CAMEROTA, CNN HOST: And that the Trump team had been supplying lawyers, I guess, paying for them, for staffers who had been in the White House at that time.

Do we know any more? Is that customary? Is that unusual? Is that undue influence, you know, on their testimony?

DANA BASH, CNN CHIEF POLITICAL ANALYST: Probably all of the above, Alisyn. I mean, let's just sort of set the bar at, none of this is customary or usual, which is part of the problem.

And it does speak to something that I was talking to somebody who was kind of former Trump-world official about this morning.

Which is that part of the challenge for a lot of people -- Cassidy Hutchinson clearly was one of these individuals -- is that people who have been working, and especially at the end where kind of the core staff inside Trump world, they felt that it was hard to get jobs still being loyal Trump -- Trump loyalists.

And so, what do they rely on for jobs? They rely on either the Trump political arm or people in and around the former president who are still loyal to him.

And so, it's kind of a self-fulfilling prophecy. Maybe another way to look at it is golden handcuffs. That's actually part of the conversation I was having with somebody who is part of that world.

And so, the idea of somebody who, like a 25-year-old, who probably doesn't have a big paycheck to pay a lawyer and is offered an attorney who is with the Trump, you know, in that Trump world, it's hard to pass that up.

But it was, as Alyssa was talking about, the moment when she realized, wait a minute, I feel limited in what I can say, because this is my representation.

And then she was able to find somebody else at least in the short- term, pro bono.

VICTOR BLACKWELL, CNN HOST: All right, Dana Bash, Michael Moore, thank you.

CAMEROTA: Thank you.

A key inflation measure shows that consumer prices remained flat in May. What that means for the Fed's efforts to cool the economy.

BLACKWELL: And President Biden pledges a new round of military aid to Ukraine and vows to stand with the war-torn nation for as long as it takes.

(COMMERCIAL BREAK)

[14:37:00]

BLACKWELL: An inflation indicator that is closely followed by the Fed shows consumer prices remain flat in May, suggesting inflation has not improved, despite the central bank's efforts.

CAMEROTA: CNN's Rahel Solomon is here to explain.

Rahel, flat numbers, is that good news, bad news, neither news?

RAHEL SOLOMON, CNN BUSINESS CORRESPONDENT: It's funny you say that. It's like a report card where your grades haven't really improved but they haven't gotten worse either. It's still a tough sell to your parents. So it depends on how you look at it.

The topline yearly number, that was sort of a moderation. Monthly, we did see an increase. Yearly inflation rose 6.3 percent. Core inflation rose 4.7 percent. Core inflation being it strips away more volatile categories like energy and food.

And when we look at where we're coming from, because we get a lot of data these days.

When we look at where we're coming from for core inflation, you can see it's been a steady march higher since 2001. But we're cooling there, moderating there. But not nearly as much as the Fed would see.

Remember, the Fed wants inflation to be at 2 percent. This topline number, 6.3 percent, that is not what the Fed wants to see.

So it's probably going to be years before we get back to a 2 percent. So inflation is proving to be really stubborn. It's sort of like a clinger, you know, like a partner or romantic friend that you just will not get rid of us.

CAMEROTA: I like this.

SOLOMON: Yes, a clinger. You cannot get rid of it.

(LAUGHTER)

SOLOMON: I've left Victor speechless.

(CROSSTALK)

BLACKWELL: A clinger, that's funny.

Let's talk about the markets because this is the last day of the first half of the year. And what are we seeing?

SOLOMON: Well, what a year it has been. All the major averages are solidly negative on the year. The Dow was off about 15 percent for the year. The NASDAQ off almost 30 percent on the S&P off 20 percent.

So, this year, what has happened? Of course, we had the war in Ukraine, the invasion in Ukraine. That sent energy markets sort of through the roof. Food prices through the roof.

And the Fed started raising rates to get a handle on inflation. Like we heard today, really not getting better, so it's been a rough year.

In terms of what we see for the next half of the year, well, sentiment is overwhelmingly negative.

Deutsche Bank put out a report this morning that said 90 percent of investors that they surveyed in their monthly survey see a recession by the end of 2023.

Compare that to 35 percent in December before those two things that I talked about, the Fed raising rates and Ukraine. So sentiment is overwhelmingly negative.

So buckle up -- guys?

CAMEROTA: Rahel Solomon, thank you.

(CROSSTALK)

[14:39:35]

BLACKWELL: President Biden says his political problems at home are not impacting America's standing on the world stage. We'll talk about that next.

(COMMERCIAL BREAK)

CAMEROTA: President Biden left the NATO summit in Madrid today with a renewed commitment to support Ukraine in its war against Russia.

BLACKWELL: The president said the alliance is stronger now with the addition of Sweden and Finland.

(BEGIN VIDEO CLIP)

JOE BIDEN, PRESIDENT OF THE UNITED STATES: We've reaffirmed that our Article 5 commitment is sacred and an attack on one is an attack on all, and we will defend every inch of NATO territory. Every inch of NATO territory. (END VIDEO CLIP)

BLACKWELL: Joining us now is CNN global affairs analyst, Kim Dozier.

Kim, good to see you.

Let's start with this commitment the president made that the U.S., that NATO will continue to support Ukraine for as long as it takes.

[14:45:00]

Is that something that's sustainable for all of the allies who are on board now?

KIMBERLY DOZIER, CNN GLOBAL AFFAIRS ANALYST: Look, President Biden's got to say that, and Ukraine needs to hear that.

But the fact of the matter is, every leader at that summit is facing domestic aggravation, friction because of the war in Ukraine. The blowback from rising fuel prices, rising food prices. It's not going to be easy to stay the course.

But the hope is, if you rush in enough military aid, you can shorten the length of the war, and wrap this up in a few months.

But that's a hope. And even U.S. intelligence agencies have said publicly, they don't think that's what's on offer.

CAMEROTA: President Biden also said that Russia has paid a very heavy price for its war in Ukraine, something like they've set their economy back by 15 years.

It's hard for us, from our vantage point in the U.S., to see that. So how has Russia paid a price?

DOZIER: Well, we know that, internally, it's gotten harder to get things like groceries. Foreign imports have dwindled and are not getting resupplied.

But if you're the top 10 percent, you probably still have enough money to pad yourself from these kinds of sanctions.

And if you're in the middle to the lower side of the Russian economic ladder, well, you just have to put up with it. You can't exactly go out and protest, because there are heavy jail sentences for that.

So at this point, everything we're hearing from inside Russia is that people are just sitting tight. And they're also hoping that this is going to wrap up some point soon.

But from Vladimir Putin's perspective, this is a matter of pride. And everyone I've spoken to who studies him says he's not lost the will to fight.

BLACKWELL: So, the president today said that he will not ask the king or the crown prince on his trip to Saudi Arabia to increase oil production.

The Democrats, who have concerns about this trip, give him that allowance because they know about how important bringing down the cost of gas here in the U.S. is to this administration.

If he doesn't do that, I mean, does it make a difference? What's your reaction to hearing that from the president?

DOZIER: Well, he doesn't exactly need to say it out loud. The Saudis, the other members of OPEC, they know that the U.S. and other nations would like OPEC to produce more oil.

And it's probably a better way to get them -- you know, if you tell them what to do, they'll dig in their heels.

But if you just let them know, here's what we'd like, but then give the Saudi government the prestige of a visit, that could go a long way to helping them to help the Biden administration.

BLACKWELL: All right, Kim Dozier, thanks for helping us understand it.

CAMEROTA: So there was an amazing discovery in the basement of a Mississippi courthouse, the unserved warrant in the murder case of Emmett Till. And what his family is calling for now nearly 70 years after he was killed.

(COMMERCIAL BREAK)

[14:52:31]

BLACKWELL: Nearly 70 years after his death, an important element related to the murder of Chicago teen, Emmett Till, has been discovered.

CAMEROTA: This is a search team. They found an unserved arrest warrant in his 1955 kidnapping. Members of Till's family led the team and they want authorities to arrest Carolyn Bryant Dunham.

CNN national correspondent, Ryan Young, has more.

Ryan, what happens next? And could Carolyn Bryant Dunham be arrested after all these years?

RYAN YOUNG, CNN NATIONAL CORRESPONDENT: Alisyn and Victor, that's the big question right now. But this is extraordinary, 70 years later, we're still talking about this case.

The fact that family members were downstairs in the courthouse in a basement. They called it a box. They called it a dead box. They open this box and find this warrant. This was extraordinary.

They were saying, they were hugging each other, crying, overwhelmed with emotion. You think about this 70 years later and this woman was supposed to be arrested.

The big question is now, how does the court system move forward? We have known for years this case was played out in the public eye. You think of the pictures published of Emmett Till's badly beaten, all based on a lie.

The family has been fighting for years. Now you have this warrant and that they want this woman arrested. So it will be interesting to see how authorities played this out.

This is the case that so many people believe that helped propel the civil rights movement forward.

So many more questions today than a week ago. And so many people wondering whether or not an arrest will be made -- Victor and Alisyn?

CAMEROTA: Ryan Young, thank you very much. Incredible update.

[14:54:21]

BLACKWELL: The January 6th subpoenas Pat Cipollone, the former White House counsel, who has key details about what Trump was doing during the insurrection. A live update ahead.

(COMMERCIAL BREAK)

CAMEROTA: Pilots for Delta Airlines are protesting across the country today. They are picketing at seven U.S. airports ahead of the busy July 4th holiday.

This is video from Minneapolis.

BLACKWELL: The airline has cut 100 flights a day from the July schedule to minimize disruptions. But experts warn it will be a summer of travel hell.

Airlines received $54 billion in federal aid during the pandemic but now have fewer employees than before COVID, especially pilots.

German authorities say an 8-year-old boy who disappeared down a sewer eight days ago has been found alive.

[14:59:51]

CAMEROTA: It's an incredible story. Police say a passerby heard noises coming from a manhole cover -- this is early Saturday morning -- and called for help. The boy was rescued about 1,000 feet from his home.

Investigators think he climbed into a concrete drainage pipe while playing and then got lost.