OAN NEWSROOM UPDATED 9:06 AM PT – Monday, May 23, 2022
The nation is on a record breaking streak, gas prices hit another all-time high today. The national average price for a gallon is $4.59. This is the 11th consecutive day of hitting new all-time highs. A wealth advisor with Tactive Eddy Gifford joins OAN’s Alicia Summers to discuss how long higher prices are expected to last.
Federal Reserve Board chairman Jerome Powell on Capitol Hill in Washington. (Graeme Jennings/Pool via AP, File)
OAN NEWSROOM UPDATED 3: 20 PM PT – Wednesday, May 18, 2022
Federal Reserve Chairman Jerome Powell (R-D.C.) doubled down on the policy of raising interest rates in coming months which may hurt millions of Americans. In an interview Tuesday, the fed chair admitted higher borrowing costs may cause some “pain” to households and businesses.
However, he said it is necessary to curb runaway inflation and their is no way around it. Powell added that he originally hoped the federal reserve could stifle inflation without affecting the labor market but warns unemployment may rise slightly.
“I would love to see a labor market that is more in balance, ideally that would start with the number of vacancies coming down,” said Powell. “Vacancies and quits are at an all time high, that suggests the labor market that’s out of balance. Their are more demands than their are workers. I’d love to see people come back into the labor force, We are seeing some of that now, we’d like to see that continue and we’d love to see the job vacancies come back so that your seeing supply and demand get back together”
He went on to urge Americans not to worry about the labor market claiming the unemployment rate is now near a 50-year low. He further touted the structure of the U.S. economy saying he believes America will come out of the post-pandemic era strong despite the issues driving inflation. He vows to keep fighting inflation until it slows back down to two percent.
“If that involves moving passed their wont be any hesitation about that,” he stated.
Many economists criticized the fed chair for waiting too long before raising rates this year, but he believes his policies were “appropriate”. Some economists says riding fed rates may cause a recession in coming months.
Meanwhile, the Federal Reserve Chairman predicts several shifts in the U.S economy that could slow down the rate of globalization.
Ted Budd, Republican candidate for U.S. Senate, speaks during an election watch party on Tuesday, May 17, 2022, at WinMock at Kinderton in Bermuda Run, N.C. (Allison Lee Isley/The Winston-Salem Journal via AP)
OAN NEWSROOM UPDATED 11:00 AM PT – Wednesday, May 18, 2022
The power of former President Donald Trump’s endorsement is on full display as Congressman Ted Budd (R-N.C.) won North Carolina’s Republican senate primary.
On Tuesday the Associated Press declared Budd as the winner with more than 56-percent of the vote and just over 25-percent having been counted. During his victory speech he thanked supporters and pledged to advance an America first agenda.
“I pledge to my fellow North Carolinians,” said the congressman. “I will never waiver when it comes to fighting for the forgotten men and women in this state and in this country.”
He vowed to work on issues more important to his constituents, which he said include record high crime and inflation crisis. The Republican stressed that it’s unacceptable that working families in North Carolina will have to pay $5,200 extra this year due to inflation.
“In every county I visited I heard stories of high grocery costs,” voiced Budd after a one hundred county tour. “Sky rocketing fuel prices, shortages of basic necessities like infant formula, I even heard stories about families that had been ripped apart by fentanyl.”
The congressman promised to hold President Joe Biden accountable for the multiple crises sweeping the country should he be elected to represent North Carolina in the senate this November.
WASHINGTON (Reuters) -The U.S. Senate voted 57 to 40 on Tuesday to overturn a 13-month-old public health order requiring masks on airplanes and other forms of public transportation, drawing a quick veto threat from President Joe Biden.
Last week, the White House said it would extend the current COVID-19 mask requirements at airports, train stations, ride share vehicles and other transit modes through April 18 but pledged a new review. The order was set to expire on Friday.
The mandate has drawn significant opposition from Republicans who note that the Centers for Disease Control and Prevention (CDC) said last week that 98% of Americans live in places where it is safe to ditch indoor masks.
Republican Senator Rand Paul, who led the repeal effort, said the vote “sent a message to unelected government bureaucrats to stop the anti-science, nanny state requirement of travel mask mandates.”
The CDC order said the mask mandate could help prevent the spread of COVID-19 in crowded transport settings.
The repeal vote fell shy of the two-thirds majority that would be needed to override a Biden veto. The White House said Tuesday “circumstances under which masks should be required in these settings should be guided by science, not politics.”
Eight Democrats joined all but one Republican – Senator Mitt Romney – in voting to reject the rule.
Democratic Senator Tim Kaine said the vote was dangerous because it would not only bar the existing CDC order but prevent the agency from imposing future mask rules.
He noted the COVID upsurge in China and parts of Europe and asked what happens if the United States faced a new variant. “Wouldn’t we want the CDC to have the power immediately upon an upsurge of COVID nationally to impose a mask requirement on transportation?” Kaine asked.
Airlines and travel groups have called for a repeal.
The mask requirements have resulted in significant friction on U.S. airplanes. The Federal Aviation Administration says since January 2021, there have been a record 6,800 unruly passenger incidents reported – and 70% involved masking rules.
The CDC transit order has been in place since soon after Biden took office in January 2021. His predecessor Donald Trump had rejected it.
Last month, the CDC said it would no longer require masks on buses or vans operated by public or private school systems. Travelers are allowed to remove masks briefly to eat or drink.
(Reporting by David Shepardson and Moira Warburton in WashingtonEditing by Chris Reese and Tim Ahmamnn)