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☆ Internet price hikes for low-income Americans could begin in May as federal funds run dry, FCC says
▼ + stars: | 2024-04-10 | by ( Brian Fung | ) edition.cnn.com time to read: +3 min

Due to lack of funds, April will be the final month the ACP can provide full benefits, the FCC said Tuesday. Next month, ACP subscribers can expect to receive only 46% of their usual benefit, the FCC said. After that, program subscribers may have to pay hundreds of dollars more per year to stay online, or could potentially have to give up internet service entirely. Many ACP subscribers have told CNN that without help, they could have to choose between paying for internet and putting food on the table. CNN is reaching out to major internet providers for comment on the FCC’s call for those voluntary measures.

Persons: Biden, Mike Johnson, Chuck Schumer, Ohio Democratic Sen, Sherrod Brown, Kansas Republican Sen, Roger Marshall, “ Organizations: CNN, Federal Communications Commission, FCC, ACP, Ohio Democratic, Kansas Republican, Senate Locations: Congress

WASHINGTON, June 22 (Reuters) - U.S. Federal Reserve Chair Jerome Powell on Thursday defended the likely need for further interest rate increases despite the possible impact on jobs. "It is working families who suffer most directly and quickly from inflation," Powell responded, adding that Fed officials at this point feel "it will be appropriate to raise rates again this year, and perhaps twice, assuming the economy performs as expected." But Powell also elaborated on the Fed's approach in coming months as policymakers debate how much further rates need to rise. "We moved very, very quickly when we had to move quickly," with rates moving higher by 75 basis point per meeting at one point, Powell said. But now "we're at least close to where we think our destination is...and it only makes common sense to move...at a careful pace," Powell said, with rates held steady at the June meeting.

Persons: Jerome Powell, Powell, Sherrod Brown, ” Brown, Howard Schneider, Ann Saphir, Andrea Ricci Organizations: . Federal, U.S . Congress, Ohio Democratic, Banking Committee, Thomson Locations: Ohio

If confirmed, Kugler, a Colombian-American, would be the first Latino to serve on the Fed board, marking the latest effort by Biden to improve the central bank’s diversity. Kugler, who is currently on leave from Georgetown University, previously worked in the Obama administration as the Labor Department’s chief economist. Getty Images/AlamyJefferson, who joined the Fed as a governor a year ago, has been tapped by Biden to the influential role of vice chair, serving as the No. He joined the Fed board in May 2022, after winning broad bipartisan support during his congressional confirmation process. He taught economics at Swarthmore College, Columbia University and the University of Virginia, and served as a high-ranking administrator at Davidson College.

Sen. John Fetterman, D-Pa., will return to the Senate during the week of April 17 after about two months of treatment at Walter Reed Medical Center for depression, his office tells NBC News. The announcement comes as Fetterman introduces a new bill Wednesday focused on bolstering railway safety regulations in the aftermath of the train derailment in East Palestine, Ohio. The legislation is the first bill that Fetterman is leading since being elected to the Senate — he's previously introduced legislation alongside fellow Pennsylvania Democratic Sen. Bob Casey and Ohio Democratic Sen. Sherrod Brown, who also join Fetterman in backing his new bill. Fetterman has also worked in bipartisan tandem with Senator JD Vance, R-Ohio, on legislation aimed at preventing future rail disasters. The new legislation includes measures to ensure that railroads provide warning equipment to railroad watchmen and mandates mechanics inspect rail cars to attest to their safety, among other proposals.

☆ Republicans request Fed and FDIC oversight records for failed Silicon Valley Bank and Signature Bank
▼ + stars: | 2023-03-20 | by ( Christina Wilkie | ) www.cnbc.com time to read: +2 min

The Federal Reserve also created a Bank Term Funding Program aimed at safeguarding institutions affected by the market instability of the bank failures. In the days following the collapse, reports have emerged indicating that Silicon Valley Bank ignored repeated warnings from bank regulators that the bank would be at risk of collapse in the event that interest rates rose quickly. In it, Brown suggested that responsibility for the bank failures lay in part with top executives at the failed banks. Brown also asked the regulators to "identify and close regulatory gaps, shortfalls, or failures by state or federal regulators that contributed to the banks' failures." He did not ask for the names of individual Fed or FDIC officials involved in supervising the banks.

☆ Ohio Democratic Sen. Sherrod Brown, who'll likely face a tough reelection fight in 2024, says he won't 'run from Biden': 'I run my own race, and my own brand'
▼ + stars: | 2023-02-26 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

Sen. Sherrod Brown told Politico he was "fine" with Biden running on the same ballot as him in 2024. Brown is seeking a fourth term in the Senate and has carved out a unique appeal among Ohio voters. And despite President Joe Biden's eight-point statewide loss to former President Donald Trump in 2020, Brown told Politico he was "fine" running alongside the president on the same ballot should the commander-in-chief seek reelection next year. So, I'm not going to run from Biden," Brown told Politico. In the 2018 Senate race, when Brown defeated then-GOP Rep. Jim Renacci, the senator won 98% of Democrats, 56% of Independents, and 11% of Republicans, per CNN exit polling.

☆ Ohio Democratic Senate candidate Tim Ryan avoids talking about Trump on the trail as he paints GOP opponent JD Vance as extreme
▼ + stars: | 2022-11-03 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +12 min

Insider spent a day following Rep. Tim Ryan across Ohio as campaigned for US Senate. He's running a tight race against GOP nominee JD Vance, despite Trump winning Ohio twice. "You are grounded, go to your room," Ryan mock-replies, before drawing his story back to the reality of his Senate campaign. Republican Senate candidate JD Vance at a GOP unity event in Canton, OH on October 27, 2022. Democratic Sen. Sherrod Brown of Ohio at a rally for Ryan in Cleveland, OH on October 27, 2022.

☆ First on CNN: Senate Democrat warns Fed it’s ‘foolish’ to keep lifting interest rates
▼ + stars: | 2022-10-27 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

But the concern is the Fed is doing too much too soon,” Hickenlooper wrote in a letter on Thursday to Fed Chairman Jerome Powell. In a bid to get inflation under control, the Fed has raised interest rates more rapidly than at any point since the early 1980s under legendary Fed chairman Paul Volcker. “I write to urge the Federal Reserve to pause and seriously consider the negative consequences of again raising interest rates,” Hickenlooper wrote, adding that families have been stung by surging borrowing costs for homes and cars. “Will raising interest rates lead to more oil, lower prices of oil, more food, lower prices of food? Former President Donald Trump repeatedly slammed Powell — his handpicked Fed chairman — for raising interest rates and shrinking the Fed’s balance sheet.

☆ J.D. Vance, Tim Ryan in dead heat in Ohio U.S. Senate race with two weeks until the election, new polls show
▼ + stars: | 2022-10-24 | by ( Emma Kinery | ) www.cnbc.com time to read: +3 min

This combination of photos shows Ohio Democratic Senate candidate Rep. Tim Ryan, D-Ohio, on March 28, 2022, in Wilberforce, Ohio, left, and Republican candidate JD Vance on Aug. 5, 2022, in Dallas. Vance and Democrat Tim Ryan are neck and neck in Ohio's U.S. Senate race with about two weeks until Election Day, two new polls released Monday show. A separate poll from Marist found Vance and Ryan tied at 47% apiece among likely voters. The Senate race in Ohio is one of a handful of contests that will decide whether Democrats keep control of a Senate split 50-50 by party. But inflation was top of mind for voters in the Marist poll, as 40% said it was the most important issue for them in this election.

☆ Ohio Democratic Rep. Tim Ryan says he'd 'probably' be a 'royal pain in the ass' in the Senate, doesn't commit to supporting Sen. Chuck Schumer as caucus leader
▼ + stars: | 2022-10-23 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

Rep. Tim Ryan said he'd "probably" be a "royal pain in the ass" if elected to the Senate next month. Ryan made the comment during an interview with Politico, where he remarked on his tight Senate race. The lawmaker also told Politico that he was unsure if he'd back Chuck Schumer as Democratic leader. Senate Majority Leader Chuck Schumer of New York. As Ryan has campaigned across Ohio, he has spoken out against some of his party's leaders, including President Joe Biden.

☆ Ohio Democratic Senate nominee Tim Ryan questions why the national party hasn't invested in his race, says they 'have been known not to make very good strategic decisions'
▼ + stars: | 2022-10-22 | by ( John L. Dorman | ) www.businessinsider.com time to read: +5 min

Tim Ryan questioned why national Democrats haven't gotten involved in his Ohio Senate race. "National Democrats have been known not to make very good strategic decisions over the years," Ryan told The Post. Ohio Republican Senate candidate JD Vance speaks to reporters following a GOP debate at Central State University in Wilberforce, Ohio, on March 28, 2022. In his interview with The Post, Ryan openly pondered why Democratic Party leaders "don't smell blood" in taking down Vance, a former venture capitalist who wrote the bestselling memoir "Hillbilly Elegy." "We're going to continue making strategic, effective decisions that put us in the best position possible to accomplish our mission: defending our Democratic Senate majority," he told the newspaper.

☆ Ohio Democratic Senate nominee Tim Ryan told Republican JD Vance to 'move back to San Francisco' if he wanted to 'run against Nancy Pelosi': 'You're running against me'
▼ + stars: | 2022-10-18 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

Tim Ryan blasted JD Vance for repeatedly invoking Nancy Pelosi during their Senate debate on Monday. Ryan at one point told Vance to "move back to San Francisco" and run against the House Speaker. "JD, you keep talking about Nancy Pelosi. If you want to run against Nancy Pelosi, move back to San Francisco and run against Nancy Pelosi," the Democratic lawmaker said. "Yet he votes and agrees with Nancy Pelosi 100% of the time.

☆ Republican JD Vance holds a razor-thin lead over Democratic Rep. Tim Ryan in the Ohio Senate race, poll shows
▼ + stars: | 2022-09-24 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

JD Vance has a one-point lead over Tim Ryan in the Ohio Senate race, according to a new Marist poll. Among voters who indicated that they were highly likely to vote in November, Vance led by a similar one-point margin (48%-47%). Ryan led Vance by 11 percentage points (50%-39%) among nonwhite voters. Rep. Tim Ryan is the 2022 Ohio Democratic Senate nominee. DeWine, who is seeking a second term in office, received the backing of 92% of Republicans and attracted the support of 10% of Democratic respondents.

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