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New Day Saturday
Markets Rattled Amid Fears Of Inflation, Dramatic Rate Hikes; Biden Goes On Defensive As Inflation Plague Americans; CDC Vaccine Advisers To Vote On COVID Vaccines For Kids Under Five; FDA Authorizes Moderna, Pfizer Vaccines For Kids As Young As Six Months; 1/6 Panel Preps For More Hearings, Tries To Nail Down Witnesses. Aired 7-8a ET
Aired June 18, 2022 - 07:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
COY WIRE, CNN SPORTS CORRESPONDENT: He said, when tough things happen like this, it doesn't mean you have to give up, you just have to find a different way of getting to your goal.
BORIS SANCHEZ, CNN ANCHOR: Such an important lesson, so heartwarming. Coy Wire, thanks so much for bringing that to us.
CHRISTI PAUL, CNN ANCHOR: Thanks, Coy.
SANCHEZ: The next hour of NEW DAY starts right now.
Good morning. Buenos dias. Welcome to your NEW DAY. I'm Boris Sanchez.
PAUL: And I'm Christi Paul. Let's talk about the White House projecting optimism despite soaring inflation that is draining your wallet. I know, the very real impacts, the rising interest rates are having on mortgages, car sales, and soundwaves.
SANCHEZ: Plus, more than two years into the pandemic, a key moment in the fight against coronavirus, the CDC getting ready to vote on recommending vaccines for young children.
PAUL: And airlines canceled another 1400 flights yesterday, amid pilot shortages and the skyrocketing demand. Well, the effort is underway now to keep travelers moving amid this summer travel spike.
Hopefully, no alarm for you today, because it is the weekend this Saturday, June 18th. Thank you for being with us.
SANCHEZ: Always great to be with you, Christi. We begin this morning with new fears that the U.S. economy is headed toward a recession.
PAUL: Yes, yesterday marked the end of rocky week for Wall Street after the Federal Reserve announced its largest interest rate hike in decades. They're of course attempting to tame inflation. The Dow closed down yesterday, S&P500 finished slightly up, still wound up with its worst week since 2020. Now, let's look at the brighter side for a moment. We've learned that wages in the U.S. are climbing at their fastest rate since the mid-80s. Here's the push: the inflation has risen so fast that workers, it actually equates to being handed a pay cut because their pay just is not matching up with the percentage of inflation that we're feeling in the things that we're buying.
SANCHEZ: Let's get a closer look at the political end of this and take you now live to CNN is Jasmine Wright, she is live for us in Washington. Jasmine, the White House has been trying to strike this optimistic tone, right, saying that a recession is not inevitable, but a lot of Americans are struggling out there.
JASMINE WRIGHT, CNN WHITE HOUSE CORRESPONDENT: Yes, that's right. Even President Biden yesterday, he said that his administration was doing every lever, pulling every lever really to try to get those prices down, but injected optimism. He said that he believed that the U.S. economy in part because of his administration's efforts are in the best position around the globe to fight this global inflation that we're seeing. But that type of optimism, Boris, does not jive with what Americans are feeling, paying more at the gas pump at grocery stores, really for everyday goods.
And so, the Biden administration really has to come and try to figure out how do they message that Americans are going to be OK, through this difficult time. At the same time, Biden himself and the administration at large is downplaying what a lot of economists and business folks are saying, which is that a recession may be on the way.
And that comes after really, they took those acts with the Federal Reserve, which they say is an independent body. But they have message that because of those acts from the Federal Reserve, there could be some turmoil, there are some hard time coming for the American people. Take a listen to the Biden administration yesterday here on CNN.
(BEGIN VIDEO CLIP)
CECILIA ROUSE, CHAIR, WHITE HOUSE COUNCIL OF ECONOMIC ADVISERS: So, the Federal Reserve is starting to act that's generating some of the turmoil, Russia's war against Ukraine is also part of our challenge. But we need to get this inflation under control in order to emerge to where the President would like to see us get to in this economy, which is a period where we have steady, steady, solid growth that is sustainable, where every day Americans are working, if they want to work, and they're seeing good, productive increases in their pay, and they can support their families.
(END VIDEO CLIP)
WRIGHT: So, that is the key message here from the White House trying to acknowledge that Americans are feeling pain but trying to strike an optimistic tone here. And we even heard from President Biden this week, when he sat down for a rare 30-minute interview with the Associated Press, and he said some comments about the economy. He said that he understands that Americans are down right now. But he dismissed the idea that his administration contributed in any way to this amount of inflation we're seeing, saying that it was frankly bizarre that notion. And he said again that he is optimistic about where this economy is
headed, and again, said that recession was not inevitable. Comments that we've heard from him before, but of course in this moment are striking. Boris, Christi.
SANCHEZ: Yes. And looming is the fact that just a few months from now, there are going to be midterm elections where Americans are likely going to vote on the economic woes they're facing. Jasmine Wright live in Washington, thank you so much. So, later this morning, the CDC's panel of vaccine experts who's going to meet and they're going to vote on whether to recommend Pfizer and Moderna's COVID-19 vaccines for kids as young as six months.
PAUL: Yes, the majority of states have already pre-ordered shipments of this vaccine ahead of the CDC giving the OK. It is certain that there is a huge relief among parents who've been waiting for a COVID vaccine to protect younger kids. But what about those who are on the fence? Here's CNN Health Reporter Jacqueline Howard.
(BEGIN VIDEO CLIP)
JACQUELINE HOWARD, CNN HEALTH REPORTER: Christi and Boris, the White House says shots could begin as early as this week. Pediatricians' offices and pharmacies will be the sites where most of these vaccines will be administered. And remember, children under five now have two options: Moderna or Pfizer. The FDA authorized both for children as young as 6-months-old; Moderna is administered in two doses are given four weeks apart as a primary series; and Pfizer is administered in three doses as a primary series. So, the first two doses are given three weeks apart.
The third dose is given at least eight weeks after the second dose. And the dosage is different for each vaccine. Moderna is given as 25 micrograms each dose for kids five and younger, which is half of the 50 micrograms given to older kids, and a quarter of the 100 micrograms given to adolescents and adults. Pfizer is given as three micrograms per dose for kids younger than five, and that's smaller than the 10 micrograms given to older kids and the 30 micrograms given to adolescents and adults.
For both vaccines, common side effects include pain at the injection site, fever, headache, chills and fatigue. And both companies, Moderna and Pfizer, have said that these child-sized doses of vaccine appear to elicit immune responses in kids that are similar to what we've seen in adults so far, who receive the larger doses. Christi, Boris.
SANCHEZ: Jacqueline, thank you so much. Let's get some expertise now from CNN Medical Analyst and the former Baltimore City Health Commissioner, Dr. Leana Wen. Dr. Wen, always great to have you on to get your perspective on things. How likely is it that the CDC vaccine advisors are going to sign off on these vaccines for younger kids today?
DR. LEANA WEN, CNN MEDICAL ANALYST: I think it's very likely. We've already seen that the FDA advisors voted unanimously to recommend authorization. The FDA has already very thoroughly vetted these vaccines when it comes to safety and effectiveness. And I'm optimistic that the CDC advisors and the CDC are going to come to the same conclusion to give a full-throated recommendation of these vaccines.
I know that there are parents like me, who have been so eagerly awaiting this moment. I mean, it's been a year and a half since adults first started getting the COVID vaccine. It's been more than half a year since kids five and older have been able to get the vaccine. And I think parents of young kids, we've just been waiting for this moment to be able to give our children the same level of high protection that we have too.
SANCHEZ: So, once shots start going into arms, I think the question then becomes how many kids are actually going to be vaccinated? There's some polling I want to share with you from Kaiser Family that shows only 18 percent of parents expect to get their kids vaccinated. 38 percent saying they're going to wait and see. Another 27 percent say they would not vaccinate their kids. What do you make of these numbers? And what's your advice to parents who may want to wait and see is that 38 percent indicates?
WEN: Well, I'm not surprised by these numbers. They actually track with what we've seen for the five to 11-year-olds. And that age group where vaccines have been available since last November, less than 30 percent of children are fully vaccinated. Now, I think it's very reasonable actually, for parents to say, I want to wait and see. Because there are so many other parents that 18 percent of parents who want to get their kids vaccinated as quickly as possible who want to be first in line.
So, I'd say that those parents, including me, and including many physician moms that I know who have been so eager and are desperate to get our kids vaccinated, let them go first and then see the experience of those parents and families. I do think that all parents, we want the best for our children. And what parents generally do and caregivers and guardians generally do is we turn to our pediatricians, who we trust on advice for all other aspects of our kids' health. And so, I'd say if you have questions about the vaccine, if you're not sure yet, ask your pediatrician. Talk to your physician to get further guidance.
SANCHEZ: Doctor, between the Pfizer and the Moderna vaccine, is there much of a difference if parents have a choice, which shot should they choose?
WEN: Well, what we've seen so far is that the great news is both vaccines are very safe. And they both are effective in inducing a very strong antibody response that correlates to protection against severe illness. That's the main reason why we want to vaccinate, to reduce the chance of severe illness, which is rare in children, but does happen. More than 400 children in this age group of under-fives have died tragically during this pandemic. Thousands have been hospitalized; it's really distressing for little kids to get sick. And so, that's what we're trying to do to prevent that kind of serious illness. [07:10:29]
WEN: When it comes to comparing these two vaccines, the studies do not compare them head-to-head. And so, we can't say well, one is more effective than another, but I think some parents will choose one over the other for other reasons. For example, the Moderna vaccine is two doses. Parents who want to get the highest level of protection. Fastest? We'd probably choose the Moderna vaccine because, your children, if they get vaccinated next week, can be fully vaccinated by the time that the next school year starts. On the other hand, some parents might want to go with a vaccine that has a longer track record in children, because the Pfizer vaccine has been authorized for months for these five to 11-year-olds, and maybe some parents will say, I'd rather that my child get the Pfizer vaccine because of that track record. So, I think it's very reasonable, either choice. And I suspect that a lot of parents will also say and whichever one my pediatrician's office is offering is the one that I'm going to get, which I think is also a very good choice too.
SANCHEZ: Right. So, Doctor, put this into the macro view of the pandemic, how significant is it that we're vaccinating younger kids at this stage?
WEN: I think it's very significant because this is the only group of individuals who are still ineligible for vaccination at this point. When it comes to the overall trajectory of the virus, I don't think that vaccinating little kids is going to make that much of a difference overall, because I don't think the uptake is necessarily going to be that high. But I think this presents a major change in mindset for millions of Americans. There have been a lot of parents who put their own lives on hold, who have held off on travel or in person work or conferences or indoor dining or other things on account of their children. And so, to be able to reassure those families that they can also go back to normal, I think is going to make a major difference when it comes to overall how Americans think about COVID- 19.
SANCHEZ: We will of course, be watching that decision very closely later today. We hope you'll come back and talk us through the next steps. Dr. Leana Wen, thanks so much.
WEN: Thank you, Boris.
PAUL: We have a developing story this hour. I take a look there. That is the scene where crews are working to rescue several firefighters. A fire caused the building to collapse. This is in a Philadelphia neighborhood; happened earlier this morning. Authorities say, there are some firefighters who's already been rescued and taken to hospitals. The department is working, though, right now to find others. We do know at least nine agencies are assisting with recovery efforts including Philadelphia Police and the American Red Cross. But we'll continue to keep you posted on updates as soon as we get them. But again, that is the scene there where they are still searching for some firefighters after a building collapsed.
We're going to hear again this week from the January 6th Committee. And among the witnesses next week, the Georgia Secretary of State whom Former President Trump called and asked to "find nearly 12,000 votes." What would you learn from that testimony?
Also, oh my goodness, it's been chaotic at America's airports amid these mounting flight cancellations we've been seeing. How the airlines are working to get travelers on the move and why experts say you know what, we can see a lot more what we're seeing right now in the coming weeks.
PAUL: Well, the January 6th Committee is gearing up for more public hearings in the next week here, and among those scheduled to testify at this time around: Georgia's Secretary of State Brad Raffensperger, also his deputy, Gabe Sterling. You probably remember Donald Trump tried to pressure Raffensperger to "find enough votes" for him to win the 2020 election.
SANCHEZ: Notably, not expected to appear is Trump's former White House Counsel Pat Cipollone. Former administration officials say that he actually helped prevent Trump from taking even more legally questionable steps regarding the election. Meantime, former Trump Adviser Peter Navarro has pleaded not guilty to contempt of Congress charges. Navarro is refusing to cooperate with the select committee investigating the insurrection at the U.S. Capitol.
PAUL: So, let's talk about what else we could expect to see as we move forward here. I want to bring in Federal Prosecutor Michael Zeldin, he's Hosted the "That Said with Michael Zeldin" podcast. So, good to have you with us, Michael, thanks for being here. So, I want to ask you, first and foremost, has the committee in your assessment thus far proven that President Trump either committed crimes? And if so, that he potentially did them knowingly?
MICHAEL ZELDIN, FEDERAL PROSECUTOR: I think they have laid a foundation for that for sure. What they have said is that with knowledge and corrupt intent, he engaged in a seven-part plan to obstruct the transition of power, to interfere with the obstruction of the government. And I think we've seen two parts of that, which is the big lie, and pressure campaign of Vice President Pence. Now, next week, as you previewed, we will hear third prong which is the pressure on the state, which is Brad Raffensperger in Georgia and others in Michigan and Pennsylvania.
PAUL: I want to ask you about President Trump's tweet during the tensions that were rising at the capitol that day. Let's take a look at it. It says, "Mike Pence didn't have the courage to do what should have been done to protect our country and our constitution giving states a chance to certify a corrected set of facts not the fraudulent or inaccurate ones which they were asked to previously certify. USA demands the truth." You contend that that tweet, tweet, Michael, poured gasoline on the fire. How damning is it?
ZELDIN: Well, it's actually the words of the press secretary for Trump, who she said, poured gasoline on that fire. I agree with her. I think that what we see here is the attempt by the committee to say, but for that tweet, but for Trump's speech earlier in the afternoon, where he said, let's walk down to the Capitol, those insurrectionists would not have breached the Capitol and would not have sought to kill Mike Pence. So, there's a direct correlation between that tweet and earlier statements at the lips and breaching of the Capitol, and the efforts to find Nancy Pelosi and Mike Pence.
PAUL: So, we know the Department of Justice has requested all of the documents and the testimony from the January 6th committee at this point. And I'm going to listen to one of the committee members there, here Representative Zoe Lofgren, about that thought that they would pass over that information in full.
(BEGIN VIDEO CLIP)
REP. ZOE LOFGREN (D-CA): Let's cut to the chase, we're going to provide what we can that's necessary for them. It just makes me wonder, though, what have they been doing over there? I mean, they have a much easier way to compel testimony under their subpoenas than we do under ours. So, hopefully, this shows that they're gearing up, we're going to make sure we're doing what we are able to do to assist, but we're not going to let our investigation be disrupted.
(END VIDEO CLIP)
PAUL: So, is that a fair question as to where the DOJ has been up to this point? And, and where does the back and forth go?
ZELDIN: Well, she assumes that the DOJ is not, in fact, acquiring evidence. I don't know that she knows that. Because in the Grand Jury acquisition of information, she might not be told that. So, she's assuming that they're not doing anything, which I think is necessarily conjecture on her part. But I think that in the end, the two bodies that are gathering information will share information because they have to.
The DOJ needs to get what they don't have, and they also need to get what they already have acquired by themselves to make sure that what is being said to them is consistent between two bodies. So, I think in the end, they will get what they want. There's just a little bit of gamesmanship going on here. But in the end, DOJ will have everything it needs to make a determination whether or not Trump or anybody else violated the criminal laws, the United States, and is therefore worthy of being indicted.
PAUL: Real quickly, as we look ahead to the hearings this week. There, you know, there are people who are convinced that this was a fraudulent election. With there's already been these four public hearings, is there engage, Michael, of how the hearings thus far has shaped public opinion about January 6th, and about Vice President Pence?
ZELDIN: Well, clearly, we know that the true believers for Donald Trump are still true believers. They're not listening. They think it's a sham hearing, because President Trump has told them that. I think those who believe that Trump committed crimes, similarly, believe it. It's that group in the middle that said, you know, let's hear the evidence. Let's see what they have to say about whether Trump did or didn't violate laws. And I think those people, if they are listening, can't find any basis to conclude that Trump didn't incite a riot and didn't obstruct officials proceeding. So, hopefully, for those who want Trump to be held accountable, these hearings are moving the needle.
PAUL: All right. Michael Zeldin, so appreciate having your expertise with us this morning. Thank you.
ZELDIN: Thank you.
SANCHEZ: It's been a turbulent start to the summer travel season. Airlines canceling nearly 1500 flights yesterday, as they deal not only with weather, but also staffing shortages. What this means heading into your Fourth of July weekend, straight ahead.
SANCHEZ: The busy summer travel season is off to a rocky start. Thousands of flight cancellations and sky-high prices for tickets. Airlines canceled nearly 1500 flights yesterday and there are nearly 500 already canceled today.
PAUL: Sources tell CNN, Transportation Secretary Pete Buttigieg has urged airline executives to review their flight plans ahead of the Fourth of July holiday. Of course, we know that's coming up just as trying to soften the impact of flight summer cancellations. This comes after more than 2700 flights were canceled over Memorial Day weekend -- 2700. Now, Delta has led the way saying it would cancel about 100 flights a day to minimize disruptions. But Delta's Pilots Union published a letter saying they're being overworked, and they're frustrated.
(BEGIN VIDEO CLIP)
CAPT. EVAN BAACH, VICE CHAIR OF COMMUNICATIONS, DELTA PILOTS UNION: Our issue really began a while ago during COVID. And we've been making it very clear to Delta management for quite a while that we are not staffed appropriately for the summer flying. We don't have enough pilots, and the company is scheduling more flights and they can fly. We've been very vocal about it for the last few months. We've been picketing at Delta bases and hubs throughout the system to send that message that our pilots are tired, and we're frustrated we're fatigued.
(END VIDEO CLIP)
PAUL: Despite cancellations and the delays, passengers, they're paying for the flights because they want to go.
PAUL: In May of 2021, for instance, the average price of an airline ticket in the U.S. was $195. Now, it's $336.
Well, aerospace and airlines analyst with Bloomberg Intelligence is with us now. So good to have you with us, George.
GEORGE FERGUSON, SENIOR AEROSPACE AND AIRLINE ANALYST, BLOOMBERG INTELLIGENCE: Thank you for --
PAUL: 1,500 flights, just -- that's -- it sound -- it almost sounds insane. I mean, you're going to have people sitting at the airport, wondering what to do with this.
What do you know about the discussions that are going on right now between the FAA and airlines, as they try to talk about ways to improve?
FERGUSON: So we're not privy to those discussions. But what we do know is, you know, all the airlines already have schedules out there, and sold most of those tickets.
So, it's going to be really hard for them to change what's going to happen on July 4th, right? And I think they could probably change what's going to happen later in the summer.
But if you think about how the airline businesses run recently, because of the pandemic, they've really had a lot of their demand, compressed into the summer months, when leisure travelers get away. They want to go to, you know, outside destinations, where they feel more comfortable.
So, the airlines, are really like to fly as much as they can this summer, generate as much cash, as much profit, because they just don't know what the winter holds. And, you know, the winter could hold the COVID spike.
And even this year, you know, we're kind of looking at a slowing economic growth, as we get -- as we get it, I think, into the fall and winter months, I think they're concerned about that.
So, management wants to fly as much as they can. And obviously, the pilots, you know, they feel stretched right now. And the rest of the staff probably feels stretched as well.
PAUL: So, when we hear about these massive cancelations, as a passenger, what options do we have?
Yes, it's really hard. I mean, it's summer season, right. And so, summer season in the U.S. is always marked by a lot more, you know, thunderstorms, they really royal operations.
And I think, yes, this latest, you know -- over the last couple of days, this latest interruption is a function of those storms, and then a lack of an enough employees to bounce back well at the airlines.
And, you know, we don't see the employment situation improving dramatically this year. And the weather is what it is. And so, I think really, passengers flying this summer, I think can expect it.
I mean, we're starting to see some changes to the schedule. Out in August, we're seen sort of seven to eight percent of the schedule being cut since they first put it out in April, or since we look in April.
So, we're starting to see a little bit of an easing of the schedule. But I think this summer, to give you a flyer, I think you sort of count on potentially some challenges.
PAUL: Well, and we just heard from that pilot, saying, look, they're exhausted that the overtime hours they're putting in are just crazy. Do you have any concerns that the pilots are working beyond the protocol norm, and that anything could be compromised? I mean, those guys have to be so fatigued.
FERGUSON: Yes, so I will tell you, U.S. pilots are very -- are very, very professional group. And the airlines, I think would not will absolutely not work them past, you know, their FAA limits.
There's a little bit of a backdrop here as well, the pilots are in the middle of negotiating a new contract as well, right?
And so, United has a contract with other details. I suspect they'll get a good contract here because of shortages in the pilot ranks and the labor force.
But, so, there's a little bit of that I think in the background, as well as the pilots want probably some different work rules, and some pay increases. They'd probably love to see the airline's get to an agreement with them now, especially in front of a potential against slowdown in the U.S. economy later this year.
PAUL: All right, George Ferguson, we appreciate your insight on this. Thank you, sir.
FERGUSON: Thank you, enjoyed it.
BORIS SANCHEZ, CNN ANCHOR (on camera): Next, a heartbreaking revelation from Uvalde, Texas about how one officer's decision could have made a huge difference in the mass shooting that took 21 lives.
Stay with NEW DAY. We're back after a quick break.
SANCHEZ: U.S. embassy officials in Moscow were able to visit detained American Paul Whelan in a Russian prison yesterday. It's the first- time officials have visited him since last November. Whelan has been in Russian custody since December 2018. When the state department says he was wrongfully detained and then later convicted of espionage charges.
Secretary of State Tony Blinken, tweeted, in part, "Paul's resiliency throughout this nearly 3-1/2 years of detention by Russia is remarkable. We will never stop advocating for his release.
PAUL: Well, a 70-year-old man is in custody now after allegedly shooting and killing three parishioners at an Alabama church Thursday night.
PAUL (voice-over): Authorities say Robert Findlay Smith acted alone. He occasionally attended St. Stephen's Episcopal Church before opening fire to small groups' potluck dinner.
The Victims have been identified now as Walter Rainey, Sarah Yeager, and an 84-year-old woman whose family requested her name be withheld.
PAUL (on camera): There are new revelations about last month's mass shooting at Robb Elementary School in Uvalde, Texas now.
SANCHEZ: The New York Times is reporting that an officer armed with an A.R. 15 had the opportunity to shoot the gunman as he approached the school, but he chose not to.
SANCHEZ: Here is more now from the reporter who broke that story, speaking last night to CNN's Anderson Cooper.
(BEGIN VIDEO CLIP)
J. DAVID GOODMAN, HOUSTON BUREAU CHIEF, THE NEW YORK TIMES: This is a situation where officers were arriving really minutes after the first 911 call came of a gunman at the school.
And a lot of focus of the investigation into the police response has been on what happened inside the school and why it took so long for those officers to go into the room and actually confront and kill the gunman.
But what it turns out to happen outside the school, before the gunman even went in, was that one of the Uvalde police officers who arrived within minutes at the scene actually had a opportunity to take a shot at this gunman.
And what -- he told, a deputy sheriff from a neighboring county who I spoke to was that they were under fire at that time, and he passed up the opportunity to take that shot because he feared that, that shot might go awry and hit one of the children that he said he could see behind the gunman.
And so, in that split second moment where he made that decision and hesitated, the gunman went inside the school. Remember it 19 children and two teachers were killed in that massacre. Texas House committee investigating the shooting continues to talk to first responders to sort out exactly what happened amid criticism of the police response there.
The Department of Homeland Security is investigating a possible heat related death of a Guatemalan woman and a Mexican man found on the side of a Texas highway on Sunday.
PAUL: Yes, the heat as you know is not the only danger migrants face on their journey north, there are assaults, there are robberies, there are drownings, and canals are falls from border fences as well.
CNN's Priscilla Alvarez has more on just how big a problem this is and how officials in Texas are responding now.
PRISCILLA ALVAREZ, CNN REPORTER (voice-over): In these roaring waters, first responders trained for the worst. Migrants who have been swept away while trying to cross the U.S. Mexico border.
KRIS MENENDEZ, CAPTAIN, EL PASO FIRE DEPARTMENT: You get pushed underneath, you get pushed out. And so, you know, it could mean life or death.
ALVAREZ: Already, authority say there have been eight deaths here in the span of a week, signaling a grim outlook for the summer as migrants journey to the border in extreme conditions.
The canal here intended to get water to farmers, poses a unique danger with higher water levels and a fast moving current.
MENENDEZ: -- we call it live bait.
ALVAREZ: Kris Menendez, captain of the El Paso Fire Department water rescue team is bracing for more rescues and potential drownings.
MENENDEZ: We can throw a rope, throw them a ring, and they can rescue themselves off of that device. But a lot of times that's not the case. We've come in when it's too late, they're deceased.
ALVAREZ: Rescues already outpaced last fiscal year. Since October, there has been more than 14,000 searches and rescues along the southwest border, according to U.S. Customs and Border Protection. That's compared to over 12,800 in fiscal year 2021.
Border officials are on high alert, issuing warnings about the sweltering desert heat and crossing dangerous waters.
ALVAREZ (on camera): Migrants will also try to climb over the border wall and fall in the process in the El Paso sector. There have been over 229 injuries since October from those falls. Agents will try to render aid or take migrants to the hospital if necessary.
DYLAN CORBETT, EXECUTIVE DIRECTOR, HOPE BORDER INSTITUTE: A lot of the people who are at the shelter had been --
ALVAREZ (voice-over): Dylan Corbett, head of the Hope Border Institute in El Paso says built up pressure and insecurity has driven migrants to make risky decisions.
CORBETT: It's an index really of desperation, an index of pain, and index of frustration of not being able to access a settlement of water.
A Trump-era pandemic restriction is still in effect on the border, allowing officials to turn away migrants. That hasn't dissuaded people and 1,000s continue to wait in Mexico.
RUBEN GARCIA, DIRECTOR, ANNUNCIATION HOUSE: Had to come last week, the whole place was full.
ALVAREZ: Ruben Garcia runs a network of shelters here taking in migrants.
GARCIA: Over the past several months, the numbers have consistently been at 3,000 per week -- 3,000 per week. So, there were nights where we had close to 400 people sleeping here.
ALVAREZ: Southern border cities are adjusting to the reality that migration flows won't slow down. El Paso is now considering a processing center to alleviate stress shelters.
ALVAREZ (on camera): So, what does this say about where we're going?
RICARDO SAMANIEGO, JUDGE, EL PASO COUNTY: I really believe that this is the new world that we're going to be experiencing and it's not going to be a temporary situation.
ALVAREZ: U.S. Customs and Border Protection stop migrants nearly 240,000 times last month.
That is a number that has gone up month by month, and it raises serious concerns among authorities as the temperatures climb into the triple digits.
Priscilla Alvarez, CNN, El Paso, Texas.
PAUL: Priscilla, thank you so much. So, prospective homebuyers. I know, the Feds interest rate hike has made it really difficult. Right?
Well, we have a look at how we can navigate some of these new mortgage rates. That's next.
SANCHEZ: Homebuyers are already feeling the pinch of the Fed's latest rate hike. Surging mortgage rates are putting pressure on the housing market, pushing the cost of homeownership even higher.
PAUL: Yes, this week's mortgage rates jumped to 5.7 percent up from 5.2 the week before. That is the largest one week increase in more than three decades.
CNN's Brian Todd has more for us here on how we can navigate these higher home costs.
DANA BURNS, PHOENIX RESIDENT (PH): Look at this.
BRIAN TODD, CNN CORRESPONDENT (voice-over): Dana Burns (PH) got some sticker shock recently when shopping for a new house in the Phoenix area.
BURNS: $500,000. I don't thinks --- I know not. Dana certainly not alone in navigating higher home prices and steeper mortgages.
At the end of 2021, 30-year fixed rate mortgages in the U.S. had interest rates of only about three percent. Now, the rate is approaching about six percent. And with the Feds interest rate hikes just announced, getting a mortgage could cost some homebuyers 100s of 1000s of dollars more.
BILL KOWALCZUK, REAL STATE BROKER, COLDWELL BANKER WARBURG: For an average homebuyer, it could cost upwards of six figures, more than $100,000 over the course of a 30-year loan today versus if they had purchased perhaps six to seven months ago.
TODD: What's the first thing a prospective homebuyer should do right now, as interest rates climb?
MICHELLE SINGLETARY, PERSONAL FINANCE COLUMNIST, THE WASHINGTON POST: The first thing you ought to do is sit down and look at all your debts. Because before you go look at the house, before you fall in love with that house, look to make sure you can handle that payment.
And here is something else that I'm going to tell you that a lot of people don't tell you. Don't go by what the bank says that you can afford, because they're going to look at your gross income, they've got to look at all your debts, and they're going to look at your gross income.
But guess what? You don't take your gross income home.
TODD: Most financial experts advised put as much money down for your home as you can.
One key component homebuyers have to navigate whether to get a fixed rate mortgage of 15 to 30 years with an interest rate that never changes, or a so-called ARM, an adjustable-rate mortgage with interest rates that go up and down depending on the markets and when the government raises or lowers rates. KOWACZUK: If you think that you'll be there for less than five years, an adjustable rate mortgage would definitely be the way to go, because it's a lower monthly payment.
If you think you're going to be staying longer than five years, a 15- year or 30-year mortgage would be great.
It just depends on what monthly payment you're able to carry.
TODD: With mortgage interest rates climbing, is now even a good time to buy? Our experts are torn.
SINGLETARY: Renting does not mean that you are a financial failure. Renting in an environment where we might have a recession will allow you to pick up and move maybe where the jobs are.
KOWACZUK: If you are able to make a down payment and qualify for a mortgage, it will cost you less to own that home than it would be to rent the same property.
TODD (on camera): What's a common mistake people make when taking on a new mortgage, buying a new home? One expert we spoke to says many people simply buy too much house, overestimating the affordability of their mortgage, not factoring in the maintenance cost of the house.
Brian Todd, CNN, Washington.
PAUL: Brian, thank you. And great information from Michelle Singletary there.
So, more than 25 million of you are under heat alerts today. We're talking some serious triple digit temperatures here. We'll give you all the latest in what to expect in just a moment.
Also want to tell you about tomorrow night. Join Earth, Wind, and Fire, Chaka Khan, The Roots, and other stars as they lift their voices for Juneteenth: A Global Celebration for Freedom. That is live at 8:00 p.m. only here on CNN.
PAUL: Oh, if you've gone to let the dog out or tried to go for a run this morning. You -- I know you're baking.
PAUL: Because parts of the U.S. this weekend are miserable. There are 25 million of you in more than a dozen states that are under some sort of heat alert today.
SANCHEZ: Yeah, let's take you right now to the CNN Weather Center and Allison Chinchar.
Allison, are we looking at record breaking temperatures again, potentially this weekend?
ALLISON CHINCHAR, CNN METEOROLOGIST (on camera): Yes, so, the next heat wave really starts to begin today. And then, we'll continue to spread across the eastern half of the country in the coming days.
So, even if maybe you weren't expecting record breaking temps today, you likely will be by the time we get to Monday and Tuesday of the upcoming week. The concern really is in the short term, because you still have over a dozen states where you're talking over 200,000 people without power. The one thing you need when you have intense heat is air conditioning.
And a lot of these areas, even some southern states, which are still well above average, you have a couple of spots where you have 1000s of people without power.
Take for example Memphis, the high there today, 93 degrees, but when you factor in the humidity, it's going to feel like 101.
New Orleans 95 for the high temperature there, but it's going to feel like it's 105 Charleston, South Carolina, 93 for the hive, but that heat index right up around 100.
Again, take a look at this over the next couple of days. Notice how that next dome of heat really spreads across not only the central U.S., but also the eastern portion of the country.
Very few places in the next seven days are actually going to see temperatures below normal especially once we crossed into next week.
All of these dots you see here represent a location that has the potential to break a record high over the next few days and some of those dots could see multiple days of records actually broken.
Today is the last cool day in Chicago. It goes from 72 today up to 95 on Monday. And take a look at this Boris and Christi, Atlanta reaching triple digits later this week.
SANCHEZ: A good idea to stay inside and stay hydrated, Christi. I see you shaking your head.
PAUL: Poor dogs are going to be pretty miserable this week because I'm not taking them out.
Well, for a walk, I'll let them out. Thank you.