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CNN —Most people don’t want to work into their 80s and 90s, but the powerful in Washington refuse to let go. “Anybody who thinks that if I step down, Obama could appoint someone like me, they’re misguided,” she told Elle in 2014. Nikki Haley got some early attention for her presidential campaign when she suggested a mental competency test for politicians over 75. What voters like most of all is what they knowThe most powerful force in American politics isn’t age or ideas, but rather incumbency. Everyone may have to work longer in the futureAmerican life expectancy, despite advances in medical care, was 77.4 in 2020.
Persons: Sen, Dianne Feinstein, California Democrat –, , Gavin Newsom, Feinstein, Mitch McConnell, Nancy Pelosi, Pelosi, ” Pelosi, CNN’s Anderson Cooper, , “ He’s, Mitt Romney, ” Romney, Biden, Donald Trump, George H.W, George H.W . Bush, Clarence Thomas –, Thurgood Marshall, Marshall, ” Marshall, Bill Clinton, Ginsburg, Ruth Bader Ginsburg, Obama, , Elle, Barack Obama, Amy Coney Barrett, Antonin Scalia, Nikki Haley, Trump, Haley, Ronald Reagan, Harry Enten, midterms, Charles Grassley, he’d, West Virginia Sen, Robert Byrd’s, Byrd, John McCain Organizations: CNN, California Democrat, California Gov, Capitol, Republican, Republicans, KGO, Utah Republican, Democrat, Former South Carolina Gov, Trump, Senate, Arizona Republican, Social Security Locations: Washington, California, Francisco, Utah, George H.W ., Former, West Virginia
CNN —The Senate voted to confirm the nomination of Gen. C.Q. Brown to be the next chairman of the Joint Chiefs of Staff, following a monthslong hold of over more than 300 military promotions by Republican Sen. Tommy Tuberville of Alabama. On Thursday, the Senate will take votes to confirm the new Army chief of staff and the new Marine Corps commandant. Tuberville has refused to drop his holds, insisting instead that Schumer set up individual votes on each nominee. “The Senate runs on unanimous consent, and we depend on each other to ensure this institution functions smoothly,” Schumer said.
Persons: C.Q . Brown, Republican Sen, Tommy Tuberville, Chuck Schumer, , Tuberville, Schumer, , ” “ It’s, Sen, ” Schumer, Democrats demurred, Virginia Sen, Tim Kaine, we’re, “ We’re, VoteVets, , Roger Wicker of Organizations: CNN, Joint Chiefs of Staff, Republican, Marine Corps, Army, Alabama, Defense Department, , Democrats, VFW, GOP, Armed Services Committee, Pentagon Locations: Alabama, Roger Wicker of Mississippi
Every seat in both the GOP-led state House and the Democratic-controlled state Senate is up for election. People sign a poster that reads "Elect More Women" during the Democratic rally in Glen Allen, Virginia, on September 9, 2023. Virginia House Democrats have run an ad highlighting nearby states’ stricter abortion laws and featuring a comment by a state House Republican candidate during the primaries that he would support a “100% ban” on abortion. “The Dobbs decision completely changed what Virginia voters are thinking about,” Mamie Locke, the chair of the Virginia Senate Democratic Caucus, said in a phone interview last month. Susanna Gibson, the Democratic nominee for Virginia House District 57, speaks to the crowd during the rally in Glen Allen, Virginia, on September 9, 2023.
Persons: Glen, Sen, Siobhan Dunnavant, Schuyler VanValkenburg –, , Glenn Youngkin, Sue Geller, Schuyler VanValkenburg, Tim Kaine, Rebecca Wright, ” VanValkenburg, Roe, Wade, “ There’s, ” Virginia Sen, Abigail Spanberger, Donald Trump, Kaine, CNN Kaine, Mark Warner, Joe Biden, Biden, Dunnavant, – she’s, shouldn’t, , Dobbs, ” Dunnavant, Ronna McDaniel, Mitch McConnell –, ” Liesl Hickey, Tammy Campbell isn’t, Glen Allen, ” “, , VanValkenburg, It’s, Campbell, we’re, ” Campbell, , “ MAGA, ” Mamie Locke, Scott Kozar –, VanValkenburg’s –, Eric Cantor, Dave Brat, Arnold Palmers, Susanna Gibson, CNN Gibson, CNN she’s, Gibson, David Owen, homebuilder, Owen, I’m, ” Owen Organizations: Virginia CNN, GOP, Republican, broach, OB, Democratic, GOP Gov, CNN, Democratic Rep, Democratic National Committee, Festival of India, Greater, Greater Richmond Convention, Virginia Senate, Festival of, Washington Post, Schar, Virginia voters, Republicans, Virginia, Democrats, “ MAGA Republicans, Virginia Democrats, Virginia Senate Democratic Caucus, , Virginia House District, Richmond Times, Dispatch Locations: Glen Allen, Virginia, Henrico County , Virginia, Richmond, , Del, Glen Allen , Virginia, Roe , Virginia, Southern, Greater Richmond, Festival of India, Richmond , Virginia, Washington, Richmond want Virginia, Ohio, Spanberger
The climate changed. Get used to it
  + stars: | 2023-07-29 | by ( Zachary B. Wolf | ) edition.cnn.com   time to read: +7 min
In this year of epic heat, it’s time to start thinking about how the climate changed rather than the fact of its changing. “These giant swings in temperature over short distances in cities, known as the urban heat island effect, make heat waves even worse,” writes CNN’s Rachel Ramirez of a new report by the nonprofit research group Climate Central. There’s a climate change angle for everywhere and everythingThe reason gas prices have spiked in recent days? “I don’t think anybody can deny the impact of climate change anymore,” Biden said, announcing the measures. The partisan divide over climate change is also the largest it has ever been.
Persons: CNN —, CNN’s Zain Asher, Marina Romanello, Asher, Romanello, , CNN’s Rachel Ramirez, ” Ramirez, CNN’s Eric Zerkel, Joe Biden, West Virginia Sen, Joe Manchin, ” Biden, , Bill McGuire, ” McGuire, Organizations: CNN, Phoenix, Climate, Florida, Democrat, White House, Gallup, University College London Locations: Europe, Greece, Vermont, Iran, California, Arizona, Phoenix, Maricopa County, Los Angeles, New York, West, West Virginia, Rhodes
archived recording (joe manchin) I’m happy to speak to that because I believe in an all in energy policy. archived recording (joe manchin) Because Jon and I have a different opinion. archived recording (kevin cirilli) And because if there is a Republican and a Democrat, respectively — archived recording (jon huntsman) We can fix problems. archived recording (joe manchin) Well, nobody knows. katherine millerManchin says —archived recording (joe manchin) Well, they tried in 1864.
Persons: katherine miller I’m Katherine Miller, I’m, Trump, They’ve, Joe Biden, Donald Trump, katherine miller, Joe Manchin, who’s, Jon Huntsman, He’s, katherine, , he’s, jon, Jon, you’ve, Kevin Cirilli, there’s, kevin cirilli, Huntsman, jon huntsman, We’ve, Manchin Organizations: Biden, Voters, Tea Party, Republican, Democrat, West Virginia, New Hampshire, Democratic, White Locations: New Hampshire, Utah, New, who’s, United States
Same old story with aging politicians
  + stars: | 2023-07-27 | by ( Zachary B. Wolf | ) edition.cnn.com   time to read: +6 min
The freeze is not an isolated incidentEarlier this year, McConnell could not hear reporters at a different news conference. Plus, McConnell is known to have fallen at least three times in the past year, according to CNN’s Manu Raju. His fall at the Waldorf Astoria in Washington led to a concussion and broken ribs that sidelined him for weeks. Nikki Haley got some early attention for her presidential campaign when she suggested a mental competency test for politicians over 75. The only other longer-serving senator is Sen. Charles Grassley, who is 89, and who won an eighth term last November.
Persons: it’s Mitch McConnell, McConnell, CNN’s Manu Raju, Raju, Feinstein, Sen, Dianne Feinstein, Democratic Sen, Patty Murray, John Fetterman, Nikki Haley, Joe Biden’s, Biden, , Donald Trump, Haley, Barack Obama, Ronald Reagan, Harry Enten, midterms, hasn’t, Charles Grassley, he’d, West Virginia Sen, Robert Byrd’s, Byrd Organizations: CNN, Republican, Senate, Hill, Reagan National Airport, Capitol, Feinstein Democrats, Democratic, Pennsylvania, Former South Carolina Gov, Republicans, Trump, Voters, Social Security, GOP, West Virginia Locations: convalesce, Finland, Washington, Kentucky, California, Former
WASHINGTON, July 18 (Reuters) - Southwest Airlines (LUV.N) said on Tuesday it will support legislation to add seven new round trip flights a day at Ronald Reagan Washington National Airport, an issue that has been fiercely contested by major U.S. airlines. American Airlines (AAL.O), United Airlines (UAL.O) and Alaska Airlines (ALK.N) have strongly opposed adding flights to airport arguing to it would boost congestion and lead to more delays, while Delta Air Lines (DAL.N) strongly supports adding more flights to boost competition. In the 1960s, the federal government restricted flights at Reagan National to manage congestion and delays at the airport and direct longer flights to Dulles. The so-called “perimeter rule” limits most non-stop flights serving Reagan National to a distance of 1,250 miles. Congress previously exempted 20 round-trip flights to airports more than 1,250 miles from Reagan National (DCA).
Persons: Ronald Reagan, Regan, Republican Burgess Owens, Owens, Reagan, Mark Warner, Tim Kaine, David Shepardson, Nick Zieminski Organizations: Southwest Airlines, Ronald Reagan Washington National Airport, U.S, American Airlines, United Airlines, Alaska Airlines, Delta Air Lines, Federal Aviation Administration, U.S . House, Southwest, Republican, FAA, Reagan National, Reagan, Thomson Locations: Ronald Reagan Washington, U.S, Capitol, Dulles, Virginia
The West Virginia Democrat’s model has served him well with repeated statewide wins in one of the most conservative pro-Trump states in the nation. For now, Manchin’s noncommittal answers are worrying some of his Democratic colleagues. Polls show that both Biden and Trump, the front-runner for the GOP nomination, are unpopular. It argues, therefore, that 79 electoral votes are potentially at risk for Biden from the involvement of a third-party challenger. Such a challenger would also need to win states where Biden won big, and at least some conservative bastions.
Persons: West Virginia Sen, Joe Manchin, Donald Trump, Manchin, who’s, Joe Biden, roil Biden’s, CNN’s Manu Raju, , “ I’ve, Biden, Manchin’s, Arizona Sen, Mark Kelly, ” Kelly, “ I’m, West, Vermont Sen, Bernie Sanders, Biden –, Georgia –, CNN’s Kaitlan Collins, Trump, , Robert Kennedy Jr, , Kennedy, Ron DeSantis, DeSantis, Jake Tapper, , Jon Huntsman, Ryan Clancy, CNN’s Michael Smerconish, we’ve, Jill Stein, Ralph Nader, Gary Johnson –, Nader, Stein, siphoning, Al Gore, Hillary Clinton, CNN’s Harry Enten, don’t, Chris Christie, Trump’s, ” Christie Organizations: CNN, West, Democratic, West Virginia Democrat’s, Trump, Senate, Manchin, Harvard, Green, GOP, Biden, Florida Gov, Democratic National Committee, Republican Gov, Saint Anselm College in, Republican, Democrats, Green Party, Libertarian Party, Trump Republicans, Quinnipiac University, Former New Jersey Gov, ABC Locations: West Virginia, New Hampshire, Granite, Arizona, “ State, Vermont, Georgia, Covid, South Carolina, Florida, Saint Anselm College in Manchester, United States, Washington, Former
Over 100 countries, including the UK, France and Germany, have outlawed the munitions under the Convention on Cluster Munitions, but the US and Ukraine are not signatories to the ban – a point that McCaul emphasized on Sunday. CNN previously reported that President Joe Biden mulled over the decision before approving the weapons transfer on Friday. “The president’s been doing a good job managing this war, this Putin aggressive war against Ukraine. 3 Republican in the Senate, welcomed the sending of cluster munitions to Ukraine but said the US was taking “too long” to supply weapons to the country. “I don’t believe the (Biden) administration deserves any blame for this,” Lee said.
Persons: , , Michael McCaul, Barbara Lee, CNN’s Jake Tapper, ” McCaul, Volodymyr, Zelensky, McCaul, Joe Biden mulled, Biden, CNN’s Fareed Zakaria, John Kirby, ” Lee, Putin, Tapper, Lee, Virginia Sen, Tim Kaine, ” Kaine, Wyoming Sen, John Barrasso, ” Barrasso, Donald Trump, Trump, ” Biden, ” “, we’d Organizations: Washington CNN, Republican, Sunday, Biden, Democrat, House Foreign, Texas Republican, California Democrat, Union, CNN, Cluster Munitions, US National Security, ABC, Ukraine, US, Fox News, State Department, Trump, White, United Nations Locations: Ukraine, Texas, California, “ State, Russia, France, Germany, Wyoming, Afghanistan, United States, Qaeda
A debt ceiling deal surprisingly green-lit the Mountain Valley Pipeline. The identity of the mystery trader is unknown, and some think it's an insider trading concern. Then, on May 27, the debt deal including the Mountain Valley Pipeline was struck. The options are still outstanding, so that number could grow in the event that Equitrans Midstream continues to rally. The deal on Mountain Valley was kept secret up until the debt deal was announced.
Persons: , West Virginia Sen, Joe Manchin, Equitrans Midstream, Midstream, Equitrans, Manchin, Kevin McCarthy, watchdogs Organizations: Service, Bloomberg, Equitrans Midstream Corporation, White Locations: West Virginia, Virginia
The debt-ceiling bill includes reforms that aim to speed up construction on energy projects. It also claims a West Virginia pipeline is in the national interest — and pushes through its completion. The reforms in the bill include limiting the environmental permitting process to two years, along with requiring projects to name a single lead agency that would develop one master environmental review document. Now, the permitting reforms included in the deal would force federal agencies to approve all remaining permits for the pipeline and allow it to bypass the courts and fast-track construction. Manchin, who is also the chairman of the Senate Energy and Natural Resources Committee, plans to bring more comprehensive legislation to the Senate floor by the end of the summer.
Persons: , Kevin McCarthy, Raúl Grijalva, polluters, Grijalva, Melanie Stansbury, Stansbury, Sen, Joe Manchin, Tim Kaine, Kaine, Manchin Organizations: Service, Environmental, White, Sunday, Arizona, Natural Resources Committee, NEPA, Natural Resources, Infrastructure Law, Democratic, Senate, Senate Energy Locations: West Virginia, Virginia
Given the current math in the chamber, every senator in the Democratic Caucus would need to support such a change. The president’s focus, Kikukawa said, remains preventing default, and “other options are a question for another day.”Originally Boyle backed eliminating the debt limit entirely. She and Jeffries both pointed out that Senate Minority Leader Mitch McConnell had in 2011 supported a backdoor solution to that debt limit fight, which would have given then-President Barack Obama power to raise it on his own just that one time. Several swing district Democrats, though, told CNN that they were wary of supporting a change, calling the debt limit authority an important check on the presidency and on spending, despite their opposition to how it was used this time. This has been such a torturous experience for my Democratic colleagues that I hope they will not forget,” Boyle said.
Persons: Joe Biden, Chuck Schumer, couldn’t, West Virginia Sen, Joe Manchin, Arizona Sen, Kyrsten Sinema, Massachusetts Sen, Elizabeth Warren, Brendan Boyle –, Hakeem Jeffries, Pramila Jayapal, Nancy Pelosi, , Boyle, , ” Boyle, Biden, wasn’t, Michael Kikukawa, Kikukawa, , MAGA, ” Jeffries, he’s, , ’ ” Warren, “ It’s, Warren, ” Warren, Steve Ricchetti, Pelosi, Schumer, Jeffries, Mitch McConnell, Barack Obama, ” Pelosi, ” Jayapal, Hawaii Sen, Brian Schatz, ’ ” Schatz, who’ve Organizations: CNN, Capitol, Democratic Caucus, West, Pennsylvania, White, Treasury Department, Senate, Congressional Progressive Caucus, SNAP, Democratic Locations: West Virginia, Arizona, Massachusetts, United States, Hawaii
Sen. Joe Manchin, a West Virginia Democrat, has long pushed for a controversial gas pipeline. The debt ceiling deal will likely force federal agencies to approve the project's remaining permits. The Democrat and his fellow West Virginia lawmakers have for years pushed for the completion of a controversial 303-mile pipeline that would carry Appalachian shale gas from northwestern West Virginia to southern Virginia. Virginia's Democratic lawmakers are staunchly opposed to the pipeline provision. He plans to file an amendment to remove this harmful Mountain Valley Pipeline provision."
Persons: Sen, Joe Manchin, , Joe Biden, Kevin McCarthy, Manchin, McCarthy, Manchin didn't, Virginia Sens, Tim Kaine, Mark Warner, Kaine, Jennifer McClellan, Kaine doesn't, John Podesta, Tim Kaine's Organizations: West, West Virginia Democrat, Service, Democrat, Republicans, Democratic, Appeals, Circuit, Democratic House, Washington Post Locations: West Virginia, Virginia, America
Glenn Youngkin of Virginia is reconsidering a 2024 presidential run, per a recent Axios report. But such a decision would be rife with peril, with Youngkin far down the pack of GOP contenders. Former President Donald Trump speaks to supporters at his rally in Waco, Texas, on March 25, 2023. As of May 31, the GOP polling average on FiveThirtyEight had Trump ahead of DeSantis 54.1%-20.7%, with former Gov. Virginia House Speaker Todd Gilbert, left, gavels to order the special session of the Virginia General Assembly in Richmond, Va., on September 7, 2022.
Persons: Glenn Youngkin, Youngkin, , Donald Trump, Terry McAuliffe, Joe Biden, Trump, Ron DeSantis, DeSantis, Axios, Evan Vucci Trump, juggernaut Trump, Stormy Daniels, FiveThirtyEight, Nikki Haley, Sen, Tim Scott of, Mike Pence, Marta Lavandier, McAuliffe, Ralph Northam, Todd Gilbert, gavels, Steve Helber, Miles Coleman, Ball, Roe, Wade, Coleman, Aaron Rouse, Jennifer McClellan Organizations: Service, Democratic Gov, GOP, Republican, Walt Disney Company, AP, Manhattan District Attorney's, Gov, South Carolina —, Disney, American Studies, Democratic, Virginia, Virginia General Assembly, Commonwealth, Delegates, Virginia Senate, Republicans, University of Virginia Center for Politics Locations: Virginia, Florida, Waco , Texas, DeSantis, South Carolina, Tim Scott of South Carolina, Iowa , New Hampshire, Texas, Miami, Fla, Richmond , Va, Richmond, Virginia Beach
[1/2] U.S. President Joe Biden hosts debt limit talks with U.S. House Speaker Kevin McCarthy (R-CA) in the Oval Office at the White House in Washington, U.S., May 22, 2023. REUTERS/Leah MillisWASHINGTON, May 28 (Reuters) - U.S. energy company Equitrans Midstream Corp's (ETRN.N) long-delayed $6.6 billion Mountain Valley natural gas pipeline could win federal approval as part of Washington's debt limit deal. The pipeline is backed by Democratic West Virginia Senator Joe Manchin, whose vote is often needed since the Democrats hold a thin majority in that body. The pipeline, which would unlock gas supplies from Appalachia, the country's biggest shale gas basin, still needs review and permitting including in West Virginia. Mountain Valley is owned by units of Equitrans, NextEra Energy Inc (NEE.N), Consolidated Edison Inc (ED.N), AltaGas Ltd (ALA.TO) and RGC Resources Inc (RGCO.O).
Minting a $1 trillion platinum coin or using the 14th amendment could solve the crisis while sidestepping Congress. The 14th amendment, on the other hand, contains a clause that could declare the debt ceiling unconstitutional and get rid of it forever. 'That's beyond my paygrade and my mental capacity'Insider asked some Democratic senators what they thought of minting a coin or using the 14th amendment to get around the debt ceiling crisis. Sen. Ron Wyden, top lawmaker on the Senate Finance Committee, said that when it comes to the 14th amendment, "I'm not there yet. Yellen also said at a new conference in Japan on Wednesday that "it's legally questionable whether or not that's a viable strategy," referring to the 14th amendment.
The pullback by banks is raising the hopes of those in the private credit industry. Some panelists and others who spoke in the hallways of the event suggested that there was a large-scale handoff from private equity to private credit. Many private-equity firms are scrambling to raise private credit funds to take advantage. "I don't think this is the end of private equity, but the environment certainly favors private credit," he said. And that will show up in lower returns for private credit funds, she said.
The 10 Senate seats most likely to flip in 2024
  + stars: | 2023-04-30 | by ( Simone Pathe | ) edition.cnn.com   time to read: +19 min
The GOP needs a net gain of one or two seats to flip the chamber, depending on which party wins the White House in 2024, and it’s Democrats who are defending the tougher seats. Jim Justice announcing his Senate bid in West Virginia – the seat most likely to flip party control in 2024. In a presidential year, the national environment is likely to loom large, especially with battleground states hosting key Senate races. Two businessmen with the ability to tap into or raise significant resources could be in the mix – Eric Hovde, who lost the GOP Senate nomination in 2012, and Scott Mayer. Still, unseating Cruz in a state Trump won by nearly 6 points in 2020 will be a tall order.
Tucker Carlson was hardly mentioned by his former fellow Fox News hosts after he was fired Monday. Sean Hannity only mentioned Carlson to say "We're not talking about him" and that he had no details. NEW YORK (AP) — The day he was fired, Tucker Carlson was nearly invisible on the Fox News prime-time lineup that he used to dominate. "We're not talking about Tucker," Hannity said, unprompted. Carlson, Hannity and Ingraham appeared close in November 2020.
WASHINGTON, April 23 (Reuters) - Too many people have access to the U.S. government's closest secrets and a central entity should oversee the classification process, the chairman of the Senate Intelligence Committee said on Sunday, addressing leaks of documents in an online chat group. The United States has numerous intelligence gathering entities and Warner said the situation needed to be dealt with. "We need somebody fully in charge of the whole classification process and I think for those classified documents there ought to be a smaller universe," he said. As an example, Warner said the National Security Agency has suffered leaks in the past and internal controls limit the copying of documents. Warner also said that not everyone handling a document needs to see the whole document and that just seeing the header could be enough.
Who knows if West Virginia Sen. Joe Manchin truly believed the Inflation Reduction Act would reduce the deficit. Either way, he bought a green bill of goods. Several recent independent studies show that the law’s climate spending will cost trillions of dollars—many multiples more than Democrats claimed—and most of it will go to the affluent. A Goldman Sachs report last month estimated the law’s climate spending would cost $1.2 trillion over the next decade—three times as much as the Congressional Budget Office estimated last summer. One reason is the law’s sundry green-energy tax credits are uncapped, and most are available to businesses that pay little or no tax.
Expect Democrats to make abortion rights a dominant theme in 2024. The Democratic party chair there says it's "vital" that party members convey their position. Expect Democrats to make sure of that, especially after a recent Wisconsin election further demonstrated the power of abortion rights at the ballot box. Abortion rights advocates protest outside the White House in July 2022. Dems shift to talking openly about abortionThe Democratic Party has rapidly changed its views on abortion.
Joe Manchin Gets Another Blow
  + stars: | 2023-04-05 | by ( The Editorial Board | ) www.wsj.com   time to read: 1 min
Joe Manchin must feel as afflicted as Job. As the Biden Administration undermines the provisions the West Virginia Senator negotiated in return for his vote last year for the Inflation Reduction Act, a Fourth Circuit Court of Appeals panel on Monday struck down another permit for the Mountain Valley Pipeline. The 304-mile pipeline has been stuck in regulatory and legal purgatory for several years. It aims to deliver natural gas from Appalachia’s Marcellus and Utica shale deposits to the mid- and south-Atlantic regions. Although the pipeline is more than 90% complete, a three-judge Fourth Circuit panel keeps blocking permits needed to finish it.
A Biden Bait-and-Switch on Electric Vehicles
  + stars: | 2023-03-22 | by ( The Editorial Board | ) www.wsj.com   time to read: +1 min
Sen. Joe Manchin, D-W.Va., asks questions during a Senate Appropriations Subcommittee on Financial Services and General Government hearing to examine proposed budget estimates and justification for the 2024 fiscal year at the Capitol in Washington on Wednesday, March 22, 2023. (AP Photo/Amanda Andrade-Rhoades)We interrupt the latest Donald Trump melodrama for a word from Biden Administration regulators. While the world isn’t watching, and certainly the press corps isn’t, regulators on Friday announced they are essentially rewriting last year’s Inflation Reduction Act so more electric vehicles will qualify for subsidies. In return for his vote, West Virginia Sen. Joe Manchin insisted on numerous conditions for the IRA’s $7,500 EV tax credit. He wanted to encourage more U.S. manufacturing and ensure subsidies don’t go to the affluent.
The Federal Reserve raised interest rates by 25 basis points on Wednesday. It's the second interest rate increase this year. It comes on the heels of Silicon Valley Bank's collapse, which prompted some calls to pause the rate hikes. "We expect 2023 to be a year of significant decline in inflation," Powell said in February. So while the committee is slowing interest rate hikes for now, they plan to continue increases this year.
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