GO in the Know: Biden Wants Gas Tax Suspended, Fed Wants Inflation Down & Top Financial News for June 22
It’s National Kissing Day, but before you pucker up and give your loved ones a smooch, show some love to today’s top financial stories first.
The Big Lead: Biden Calls on Congress To Suspend Federal Gas Tax
President Biden is calling on Congress to suspend the federal gas tax for three months to provide direct relief to American consumers who have been hit with what he calls “Putin’s Price Hike.” The White House is also calling on states to take similar action.
Business Spotlight: Twitter
Twitter’s board recommended unanimously that shareholders approve the $44 billion sale of the company to Tesla CEO Elon Musk, but he’s still saying there are “a few unresolved matters.”
Well That’s Interesting: Fed Committed To Bringing Inflation Down
Just one week after the Federal Reserve raised interest rates by three-quarters of a percentage point, Chair Jerome Powell said the Fed is strongly committed to bringing inflation down and anticipated that “ongoing rate increases will be appropriate.”
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