12 PM ET: Inflation impact, Biden’s Big Oil message, more Ukraine aid & more

The Federal Reserve is expected to raise interest rates higher than initially planned to cool inflation down – we’ll tell you what that would mean for you and how it could lead to a possible recession. President Biden is urging oil companies to boost supply amid skyrocketing US gas prices. Extreme heat endangers health and about 100 million people in the US are at risk today. The Biden administration is expected to announce more military aid to Ukraine as western intelligence experts share the ways they see the war could end. Plus, we’ll tell you who donated $60,000 for a less-than-three minute speech last January. To learn more about how CNN protects listener privacy, visit cnn.com/privacy