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Monday, May 23, 2022
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US allows more baby formula imports to fight shortage

Under fire from parents and politicians, President Joe Biden’s administration announced steps Monday to ease a nationwide shortage of baby formula, including reopening the largest domestic manufacturing plant and increasing imports from overseas.

Biden announces program offering discounted internet service

President Joe Biden announced Monday that 20 internet companies have agreed to provide discounted service to people with low incomes, a program that could effectively make tens of millions of households eligible for free service through an already existing federal subsidy.

Powell: ‘Soft’ economic landing may be out of Fed’s control

Federal Reserve Chair Jerome Powell, fresh off winning Senate confirmation for a second term earlier in the day, acknowledged for the first time Thursday that high inflation and economic weakness overseas could thwart his efforts to avoid causing a recession.

Biden pushes ‘ultra-MAGA’ label on GOP as he defends record

President Joe Biden on Tuesday warned voters unhappy with soaring inflation and his stalled domestic agenda against turning power over to “ultra-MAGA” Republicans in the midterm elections as he increasingly tries to cast former President Donald Trump and his adherents as a political foil.

Biden signs Ukraine bill, seeks $40B aid, in Putin rejoinder

Washington sought to portray a united front against Russia’s invasion of Ukraine as President Joe Biden signed a bipartisan measure to reboot the World War II-era “lend-lease” program, which helped defeat Nazi Germany, to bolster Kyiv and Eastern European allies.

1 in 3 fears immigrants influence US elections: AP-NORC poll

With anti-immigrant rhetoric bubbling over in the leadup to this year’s critical midterm elections, about 1 in 3 U.S. adults believes an effort is underway to replace U.S.-born Americans with immigrants for electoral gains.

EXPLAINER: Recession fears grow. But how high is the risk?

Inflation is at a 40-year high. Stock prices are sinking. The Federal Reserve is making borrowing much costlier. And the economy actually shrank in the first three months of this year.

Biden showcases deficit progress in bid to counter critics

President Joe Biden on Wednesday highlighted new figures showing the government’s red ink will grow less than expected this year and the national debt will shrink this quarter as he tried to counter criticism of his economic leadership amid growing dismay over inflation going into midterm elections that will decide control of Congress.

Fed raises key rate by a half-point in bid to tame...

The Federal Reserve intensified its fight against the worst inflation in 40 years by raising its benchmark interest rate by a half-percentage point Wednesday — its most aggressive move since 2000 — and signaling further large rate hikes to come.

Push to arm Ukraine putting strain on US weapons stockpile

The planes take off almost daily from Dover Air Force Base in Delaware — hulking C-17s loaded up with Javelins, Stingers, howitzers and other material being hustled to Eastern Europe to resupply Ukraine’s military in its fight against Russia.