Morning Wire Federal Rates Pause & Blinken’s China Trip | Afternoon Update | 6.14.23
Jun 14, 2023
In a whirlwind of political drama, a senator reacts to Trump's indictment and a former Starbucks manager faces a court ruling. Tensions rise as the Secretary of State prepares for a pivotal trip to China, coinciding with a boycott impacting Bud Light's sales. Meanwhile, the Federal Reserve makes headlines by pausing interest rate hikes after 15 months, sparking discussions about its potential effects on consumer loans and ongoing controversies in Washington.
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Fed Pauses Rate Hikes
- The Federal Reserve paused interest rate hikes for the first time in 15 months.
- This pause allows them to assess the impact of their inflation-fighting strategy.
Hatch Act Accusation
- White House Press Secretary Karine Jean-Pierre was accused of violating the Hatch Act.
- She allegedly used government resources for political campaign purposes by referring to candidates as "MAGA Republicans."
Vance's Threat
- Senator J.D. Vance threatened to block Justice Department nominees.
- He aims to pressure Merrick Garland to stop "harassing political opponents" like Trump.