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Fed increases interest rates to 16-year high

The Federal Reserve raised its key interest rate another quarter of a percentage point Wednesday in its ongoing effort to bring inflation down. The increase is the 10th straight interest-rate hike since last March in what has been the most aggressive rate-hiking campaign since the 1980s. The hikes are among factors being blamed for the biggest banking sector meltdown since the 2008 financial crisis. Nancy Cordes has more details from the White House.

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Biden says "stay tuned" on reelection bid

President Biden called the Tennessee Republican legislature's move to expel three fellow lawmakers for joining in a protest for gun control "shocking" and "undemocratic" while meeting with the "Tennessee Three," Democratic Reps. Gloria Johnson, Justin Jones and Justin Pearson, in the Oval Office on Monday. As members of the press were ushered out of the room, the president said "stay tuned" when asked about running for reelection in 2024.

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