New York (CNN Business) A version of this article first appeared in the "Reliable Sources" newsletter. You can sign up for free right here.

The impeachment of President Donald Trump will enter a critical new phase on Wednesday when the House Intelligence Committee's first formal impeachment inquiry hearing is gaveled in. Deputy Assistant Secretary George Kent and US Charge d'affaires in Kiev Bill Taylor will be questioned in front of cameras for several hours.

Televised hearings matter because they have a way of focusing attention on the allegations at hand — in this case the allegations involving Trump, Ukraine and abuse of power.

"No one knows what is going to happen in the coming weeks or months, except likely impeachment by the House, because of the Democratic majority," Carl Bernstein says. "As for the results of a Senate trial or the remainder of Trump's term or the 2020 election, anything is possible."

Given his experience covering Richard Nixon and Bill Clinton, I asked Bernstein to share what we should all keep in mind on Wednesday and in the weeks ahead. He started by saying this:

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