Treasury Secretary Janet Yellen said she believes the U.S. economy can still achieve a "soft landing" and lower inflation without a recession, even as more concerning financial news emerges. While attending the Group of 20 finance ministers meeting in India on Friday, Yellen said the economy is in "fundamentally good shape" and may be able to withstand pressure from the Federal Reserve's inflation fight. "Employment, you know, continues to increase. Households are in good shape. You know, we don't have balance sheet problems of the type that we had prior to the [2008-2009] global financial crisis," Yellen said, according to Reuters. Just hours later, the Commerce Department reported an unexpected increase in inflation and a jump in consumer spending. Inflation hikes could put more pressure on the Fed to again boost interest rates. |
|
|
Welcome to The Hill's Evening Report! I'm Elizabeth Crisp, catching you up from the afternoon and what's coming tomorrow. Not on the list? Subscribe here. |
|
|
- A Nebraska state senator has pledged to filibuster every bill on the state's legislative agenda this session if two Republican-backed bills seeking to ban abortion and gender-affirming health care for transgender youth aren't withdrawn.
A federal judge has rejected a request from Politico and The New York Times to unseal court filings from a grand jury investigation into the Jan. 6, 2021, attack on the Capitol.
Former Vice President Pence, who is mulling a run for the 2024 GOP presidential nomination, is concerned about the risks of siding with Republicans who have pushed for less U.S. involvement in Russia's war against Ukraine.
|
|
|
💃🏽 Rihanna's Super Bowl show spurs FCC complaints
|
Rihanna's halftime show at Super Bowl LVII elicited dozens of complaints to the Federal Communications Commission (FCC). The "Diamonds" singer's halftime spectacle at State Farm Stadium in Arizona earlier this month drew just over 100 FCC complaints, according to records obtained by The Hill through a Freedom of Information Act request. The pop superstar, 35, performed a medley of some of her biggest hits and revealed her second pregnancy during the show. "Inappropriate touching and dance moves, very raunchy for a family to watch," one Illinois viewer wrote. "Little kids do not need to see this." |
|
|
🗳️ Jill Biden hints husband will run for reelection: 'He says he's not done'
|
First lady Jill Biden has given perhaps the strongest indication that President Biden will seek a second term. "He says he's not done," Biden told The Associated Press in an interview in Kenya on Friday. "He's not finished what he's started. And that's what's important." |
|
|
🔵 Democrats push back after Republican questions 'loyalty' of Rep. Chu
|
House Democrats are rallying around the nation's first Chinese American congresswoman after a GOP lawmaker suggested Rep. Judy Chu (D-Calif.) is disloyal to the United States. Rep. Lance Gooden (R-Texas) suggested Chu should be denied access to sensitive classified materials — and investigated — after she defended Dominic Ng, President Biden's pick to lead U.S. trade interests in Asia. Republicans have accused Ng of working on behalf of communist leaders in Beijing. "I question her either loyalty or competence," Gooden said during an appearance on Fox News. "If she doesn't realize what's going on then she's totally out of touch with one of her core constituencies." Chu, in a statement, called Gooden's remarks "racist." Democratic allies in the House are also coming to Chu's defense. "At a time when anti-Asian hate continues to threaten communities, it's critical that we condemn these racist and xenophobic attacks immediately and hold our fellow colleagues accountable to rid our politics of such dangerous statements and hatred," said Rep. Suzan DelBene (D-Wash.), who leads the House Democrats' campaign arm. |
|
|
💳 Many Millennials, Gen Xers have more credit-card debt than savings
|
Nearly half of Americans between ages 27 and 58 have more credit card debt than money in their savings accounts, according to a new survey. About 45 percent of millennials and Generation X survey respondents said their emergency funds are less than their credit card debt, according to the annual emergency savings report released this week by Bankrate. The Hill's Daniel de Visé reports that the nation's credit card debt reached a record $930 billion at the end of last year, according to an analysis by the TransUnion credit agency. |
|
|
📱 Telecom company Ericsson to lay off 8,500 workers
|
Ericsson, the telecom equipment maker, plans to lay off 8,500 employees globally to cut costs, according to a recent memo to employees from company CEO Börje Ekholm. The layoffs are predicted to affect North America and would be the largest to hit the telecom industry. |
|
|
🐊 Florida Democrats set to pick new leader amid party turmoil
|
Two prominent Florida Democrats will face off this weekend for one of the least sought-after jobs in Sunshine State politics: Florida Democratic Party chair. The Hill's Max Greenwood reports that party leaders will meet in Orlando on Saturday to elect their next chair, "a critical first step toward rehabilitating the long-struggling organization. While four candidates are vying for the job, the race is largely seen as a head-to-head battle between former state Sen. Annette Taddeo and former state Agriculture Commissioner Nikki Fried, who jumped into the contest less than two weeks ago." |
|
|
"Chemical disasters will keep happening" — Mathy Vathanaraj Stanislaus of Drexel University. (Read here) "How America's infrastructure went off the rails" — Tara Sonenshine, professor of public diplomacy at Tufts University. (Read here) | |
|
13 days until President Biden unveils his budget plan for the next fiscal year. 620 days until the 2024 presidential election. |
|
|
The House and Senate return to the Capitol on Monday after the early year break. President Biden is in Delaware for the weekend. U.S. Treasury Secretary Janet Yellen is in India for the G20 Financial Ministers meeting. |
|
|
There a story you think should be getting more attention? Something people should be talking about? Drop me a line: ecrisp@thehill.com |
|
|
1625 K Street NW, 9th Floor, Washington, DC 20006 | © 1998 - 2023 Nexstar Media Inc. | All Rights Reserved. |
|
|
|
If you believe this has been sent to you in error, please safely unsubscribe.
No comments:
Post a Comment