Americans continue to face higher grocery, housing and energy costs, despite steps taken to bring inflation down, new figures out this week show.
The consumer price index, a metric used to calculate what consumers pay for goods and services, cooled slightly in January for a seventh straight month — from 6.5 percent at the end of 2022 to 6.4 percent last month. But the numbers still came in higher than expected — a sign the Federal Reserve's efforts to decrease inflation with repeated interest rate hikes likely will take more action.
Fed Governor Michelle Bowman said inflation "continues to be much too high," and additional rate hikes may be necessary to bring inflation down to the Fed's 2 percent target. Economists say they are expecting at least two more rate hikes in the coming months. President Biden sought to tamp down concerns about the economy after the latest figures were released. "Inflation in America is continuing to come down, which is good news for families and businesses across the country," he said. "There is still more work to do as we make this transition to more steady, stable growth, and there could be setbacks along the way." |
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Welcome to Evening Report! I'm Elizabeth Crisp, catching you up from the afternoon and what's coming tomorrow. Not on the list? Subscribe here. |
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- Sen. Diane Feinstein (D-Calif.) won't seek reelection to Senate, with multiple Democrats clamoring for a chance to replace her.
Former Secretary of State Mike Pompeo (R) told The Hill that the Biden administration "made an enormous mistake" that caused "global shame" in its handling of the recent aerial objects.
Last month marked the world's seventh-warmest January on record, according to the National Oceanic and Atmospheric Administration.
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🎓 Biden: 'Action is what we owe' after Michigan shooting
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On the five-year anniversary of the Parkland, Fla. school massacre, President Biden had another mass shooting to address.
"Action is what we owe to those grieving today in Michigan and across America," Biden said in a statement just hours after a gunman killed three students at Michigan State University and injured five others before taking his own life.
On Valentine's Day in 2018, a gunman opened fire at Marjory Stoneman Douglas High School in Florida, killing 17 people and sparking calls for Congress to take action on gun violence. Biden on Tuesday renewed his call for Congress to enact gun reform legislation. "We owe it to all those we've lost and to all those left behind to grieve to continue to act," he said.
Officials say the Michigan shooting suspect was found with a note in his pocket threatening two New Jersey public schools — leading to the closure of schools and heightened security, according to authorities.
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🧑⚖️ Biden marks 100 judicial confirmations
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President Biden hit a major milestone with confirmation of his 100th federal judicial nominee this week — months sooner than his two most recent predecessors. Biden and Senate Democratic leaders set out to quickly push nominees through confirmation in the chamber while Democrats hold onto a razor-thin majority. Former President Trump seated dozens of conservative judges during his four years in office, giving Republican the upper hand in scoring several legal victories, including on abortion rights and guns. "I'm especially proud that the nominees I have put forward—and the Senate has confirmed—represent the diversity that is one of our best assets as a nation, and that our shared work has broken so many barriers in just 2 years," Biden said in a statement. "We have made important progress in ensuring that the federal judiciary not only looks more like the nation as a whole, but also includes judges from professional backgrounds that have been historically underrepresented on the bench." |
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🎈 Congress's frustration over balloon, UFOs not quelled
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Lawmakers continue to be frustrated by a lack of information about the recent wave of mysterious aerial objects recently shot down over the United States and Canada. One thing that senators came away from a classified briefing at the Capitol this week confident about: The objects are not extra-terrestrial in nature. Few other answers were given, multiple senators complained. "I think the American people deserve to hear more from the president on this," Senate Minority Leader Mitch McConnell (R-Ky.) said after the closed briefing. Because of harsh conditions, the U.S. military has not been able to recover the objects shot down over Alaska, Canada and Lake Huron over the weekend. The first noticed object, which was downed in the Atlantic Ocean, is suspected to be a Chinese spy balloon. The Chinese government has maintained that, while it did come from their country, it was benign. |
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🚆 Residents return after Ohio train derailment, but questions remain
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East Palestine, Ohio residents have been told they can return to their homes following a mass evacuation after a train carrying 20 cars of hazardous materials derailed on Feb. 3. Officials worked to prevent an explosion and managed a "controlled release" of toxic chemicals. But some noxious odors still remain near streams, according to local reports. People have questioned what caused the accident and the potential long-term impact on land and water in the area. The Hill's Saul Elbein explores five lingering questions over the train derailment. |
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🐘 Nikki Haley launches run for 2024 GOP presidential nomination |
Fresh off of launching her bid for the 2024 GOP presidential nomination, former South Carolina Gov. Nikki Haley will hold her first campaign event in Charleston, S.C., on Wednesday. "Republicans have lost the popular vote in seven out of the last eight presidential elections. That has to change," Haley, 51, said in a campaign video in which she calls for a "new generation of leadership." Haley served as United Nations ambassador during former President Trump's administration. Trump announced last fall that he will run again in 2024, but, uncharacteristically, he hasn't forcefully attacked Haley over her decision to challenge him. Taylor Budowich, a former Trump spokesman who now heads the pro-Trump Make America Great Again PAC, called Haley a "career politician."
"She started out as a Never Trumper before resigning to serve in the Trump admin. She then resigned early to go rake in money on corporate boards. Now, she's telling us she represents a 'new generation.' Sure just looks like more of the same, a career politician whose only fulfilled commitment is to herself," he said in a statement.
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📊 Majority of Dems, GOP don't know who should lead their party: poll
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Republican and Democratic voters still aren't sure who they want to be their party standard-barers as the 2024 election cycle nears, according to a new Associated Press poll. The indecision among voters, even as President Biden gears up for reelection and former President Trump already is campaigning, illustrates a point where voters are possibly weighing their options for new blood. Biden garnered the support of just 12 percent of Democrats who said they wanted him to be the leader of the party, according to the survey. Meanwhile, Florida Gov. Ron DeSantis edged Trump on the GOP side, claiming support from 22 percent of those surveyed to Trump's 20 percent. Former South Carolina Gov. Nikki Haley, who announced a run for the presidency this week, polled at 1 percent in the AP survey. |
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"Fighting food waste at home: Small steps, big impact" — Gina McCarthy, the first White House national climate adviser and former U.S. EPA administrator. (Read here) "UFOs and a ballooning national security crisis" — Chris Impey, professor of astronomy at the University of Arizona. (Read here) |
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23 days until President Biden unveils his budget plan for the next fiscal year. 228 days until the federal budget deadline. 630 days until the 2024 presidential election. |
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President Biden heads to Maryland to tout his economic policies. 10 a.m.: Senate Commerce, Science and Transportation Committee holds a hearing on the Federal Aviation Administration's system meltdown over the holidays. FAA acting administrator Billy Nolen is scheduled to appear. 10 a.m.: Senate Budget Committee holds a hearing on climate-related economic risks. 10:30 a.m.: Senate Foreign Relations Committee holds a hearing on countering illicit fentanyl trafficking. 11 a.m.: Former South Carolina Gov. Nikki Haley (R) formally launches her bid for the 2024 GOP presidential nomination during an event in Charleston, S.C. |
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There a story you think should be getting more attention? Something people should be talking about? Drop me a line: ecrisp@thehill.com |
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