Jerome Powell, Federal Reserve Chair, is set to testify before Congress on Tuesday and investors are watching closely for signs of future rate hikes. The Fed has raised its benchmark interest rate to 4.6%, its highest level in 15 years, making mortgages, auto loans, credit card rates and business lending more expensive. Powell will have to convince lawmakers that the central bank is capable of bringing down inflation without crashing the US economy in its wake.
Posts tagged as “1st Congressional District”
Mike Pence has filed a motion in a federal court to block a grand jury subpoena for his testimony related to the events of January 6, citing the Speech and Debate Clause of the United States Constitution. The motion is part of sealed proceedings and seeks to stop testimony pertaining to his legislative functions around January 6, with potential implications for the special counsel's investigation. It is unclear when the court will rule on the motion.
District of Columbia Council Chairman Withdraws Legislation Revamping Criminal Laws from Senate Vote
District of Columbia Council Chairman Withdraws Legislation Revamping Criminal Laws from Senate Vote
District of Columbia Council Chairman Phil Mendelson has withdrawn the legislation revamping the district's criminal laws from the Senate, citing the Home Rule Act which requires local legislation to be transmitted to both houses. The Senate is voting this week on a Republican-backed bill that would undo the changes, and the outcome of the vote will determine the future of the proposed changes. Supporters of the bill argue that the changes are necessary to reform the criminal justice system and reduce mass incarceration, while opponents argue that it would weaken public safety and lead to an increase in crime.
At the Conservative Political Action Conference (CPAC) on Saturday, former President Donald Trump and Florida Governor Ron DeSantis gave speeches that provided a glimpse into the potential 2024 Republican nomination race. Trump offered his usual rhetoric, while DeSantis took a more measured approach. Meanwhile, on "Face the Nation," a variety of guests discussed the current state of the Republican Party, as it struggles to define itself in the face of a growing list of issues on Capitol Hill. It remains to be seen how the 2024 Republican nomination race will play out, but Trump and DeSantis’s CPAC speeches have provided a glimpse into the potential future of the party.
On the 58th anniversary of the "Bloody Sunday" march in Selma, Alabama, President Joe Biden called for new voting protections, noting that the right to vote is still under attack. He pointed to the Supreme Court's gutting of the Voting Rights Act over the years as a major factor in the erosion of voting rights and called for the passage of the John Lewis Voting Rights Advancement Act to restore the protections of the 1965 Voting Rights Act. Biden also highlighted the need for a new voting rights act to protect against discrimination, emphasizing that the right to vote is the most powerful nonviolent tool we have in a democratic society.
The Texas Republican Party has voted to censure second-term Congressman Tony Gonzales for breaking with the party in several votes, citing Rule 44 of the Republican Party of Texas. The censure is the latest in a series of moves by the Texas Republican Party to punish members who break with the party line, and serves as a reminder that the party is serious about enforcing its principles and priorities.
Sen. Dianne Feinstein (D-Calif.) has been hospitalized with shingles and is receiving treatment in San Francisco. Sen. John Fetterman (D-Pa.), who had a health scare earlier this year, is also on the path to recovery. Feinstein's office said she hopes to return to Washington soon and her constituents and colleagues are wishing her a speedy recovery.
The Department of Justice has ruled that former President Donald Trump can be sued by Capitol Police officers and Democratic lawmakers for the Jan. 6, 2021 insurrection at the U.S. Capitol. The lawsuits seek to hold Trump liable for damages stemming from the riot, and the ruling sets a precedent for future presidents and the limits of executive power. The Capitol Police officers and Democratic lawmakers are now able to pursue their claims against the former president, and the ruling is a reminder that no one is above the law.