In its penultimate Summary of Economic Projections before this year’s Election Day, participating members of the Federal Open Market Committee announced they anticipate just one 25-basis point cut to the federal funds rate this year. A single cut, likely at the Federal Reserve‘s final FOMC meeting of the year, would mean interest rates would remain […]
Speaker Mike Johnson (R-La.) met with Senate Republicans Wednesday to begin setting an ambitious agenda for Washington if Donald Trump is elected president and Republicans win back control of the Senate and keep their House majority. GOP lawmakers are growing increasingly confident about their prospects in the November election given President Biden’s low approval numbers...
Attorney General Merrick Garland accused Republicans of wielding their power as a “partisan weapon” after all but one GOP member voted to hold him in contempt of Congress. “It is deeply disappointing that this House of Representatives has turned a serious congressional authority into a partisan weapon. Today’s vote disregards the constitutional separation of powers,...
Thousands of Southern Baptists voted to oppose the use of in vitro fertilization (IVF) during a national convention on Wednesday. Attendees at the Southern Baptist Convention voted to approve a resolution “On the Ethical Realities of Reproductive Technologies and the Dignity of the Human Embryo” Wednesday afternoon after hearing from many people about their own...
Welcome to The Hill's Business & Economy newsletter {beacon} Business & Economy Business & Economy The Big Story Fed holds rates, projects only one rate cut for 2024 The Federal Reserve projects just one interest rate cut of a quarter of a percent this year, down from three quarter-point cuts as predicted in March....
Former House Speaker Kevin McCarthy’s (R-Calif.) plan to get revenge on the Republicans who ousted him is off to a rough start. Rep. Nancy Mace (R-S.C.) on Tuesday night comfortably held off two primary challengers, including one who received support from groups tied to McCarthy, winning a clear majority in her district and avoiding a...
Rep. Dave Joyce (R-Ohio), the lone Republican to vote against a resolution to hold Attorney General Merrick Garland in contempt of Congress, says his colleagues’ move only serves to "further politicize our judicial system." “As a former prosecutor, I cannot in good conscience support a resolution that would further politicize our judicial system to score...
Senate Finance Committee Chair Ron Wyden (D-Ore.) launched an investigation Wednesday into former President Trump’s son-in-law, Jared Kushner, and his investment firm, Affinity Partners, over details regarding its investments in Saudi Arabia. In a letter to Affinity Partners Chief Financial Officer Lauren Key, Wyden said its concerning that several Middle Eastern governments, including Saudi Arabia,...
A group of House Democrats on Tuesday pushed the Biden administration to either reconsider its crackdown on asylum or expand legal representation for migrants navigating a new set of rules. In a letter to Homeland Security Secretary Alejandro Mayorkas and United States Citizenship and Immigration Services (USCIS) Director Ur Jaddou, the Democrats said migrants are...