President Biden calls for a federal gas tax holiday. More than a thousand people are killed in an earthquake in Afghanistan. Compromise in the Senate -- on a gun bill. Correspondent Steve Kathan has the CBS World News Roundup for Wednesday, June 22, 2022:
We'll tell you about the evidence and testimony from the latest January 6th committee hearing. Some of it came from former President Trump's own lawyers.
Also, there are more questions about a school shooting. The head of Texas police outlined new details about the response he called a "failure."
Plus, a plan to make cigarettes less addictive, a Super Bowl champion who's taking his final bow for the second time, and two musicians making history at one of the most popular music festivals in the world.
Americans continue to suffer from sky-high inflation. In an attempt to avert some of the worst consequences, Federal Reserve Chair Jerome Powell raised interest rates by .75%.
But is this enough? And what else can the Biden administration be doing to curb inflation?
Dave Brat, dean at the Liberty University School of Business and a former Virginia congressman, thinks this is a good start, but that officials must do more. Brat, whose doctorate is in economics, also says it's mostly the Fed's fault anyway for getting us into this situation in the first place.
"The Fed's had 0% interest rate for 10 years and created this everything bubble," Brat says. "So now it's not just real estate, it's stocks, bonds, commodities. Everything's overvalued and it's going to pop. And that's a disaster. So the Fed's walking a tight rope."
Brat joins "The Daily Signal Podcast" to discuss the intricate workings of the U.S. economy and what the Fed and the Biden administration can be doing to fix it.
We also cover these stories:
The director of the Texas Department of Public Safety tells state senators that law enforcement's response to the Uvalde school shooting was an "abject failure."
Supreme Court Justice Sonia Sotomayor accuses the court's conservative members of eroding the barrier between church and state.
Twitter’s board recommends to shareholders that they go ahead with selling the company to entrepreneur Elon Musk for $44 billion.
As soon as Thursday, the Supreme Court could rule on Dobbs v. Jackson Women's Health Organization. A leaked draft opinion in that case showed a majority of justices agreeing to overturn Roe v. Wade, which would end the constitutional right to an abortion.
However the court rules, this moment is the culmination of a decades-long effort by conservative activists around the country. One man in particular has played an outsized role in that effort: Leonard Leo, Co-Chairman of the Federalist Society. He's devoted his career to getting conservatives appointed to the country's most powerful courts.
We look at how he came to have so much sway.
In this episode, you'll hear excerpts from the interview NPR's Deirdre Walsh conducted with Senate Minority Leader Mitch McConnell, R-Ky.
Loved ones of the Uvalde, Texas school shooting victims demand accountability. The January 6th committee will focus today on presidential pressure for states to overturn the election results. A Nobel Peace Prize turns into more than $100 million to help Ukrainian children. Correspondent Steve Kathan has the CBS World News Roundup for Tuesday, June 21, 2022:
We'll tell you what lawmakers are planning for today's public hearing about the Capitol riot and what former President Trump is now accusing the committee of doing.
Also, the rare way a Russian journalist raised millions for Ukrainian child refugees.
Plus, gas prices went down a little bit, SpaceX pulled off a historic triple-header, and it's the first official day of summer.
Betsy DeVos started fighting for education freedom long before arriving in Washington to serve as Cabinet secretary in President Donald Trump’s administration. But what’s happened in the past couple of years—prompted by COVID lockdowns and a parents’ rights movement—has accelerated the opportunity to give students more options and better schools.
“Everything we did was focused on doing what’s right for students. And that started with talking about empowering families and students to make the choice for their right fit for education,” DeVos told The Daily Signal about her time as secretary of education. “And now with the reality of COVID, we’re at a point where I think policies are going to change.”
Many of those changes are already taking place in states across America. DeVos, who is the author of a new book, “Hostages No More: The Fight for Education Freedom and the Future of the American Child,” believes it’s time to take even bolder steps. Just last week, she embraced the idea of eliminating the U.S. Department of Education—the federal agency she once led.
Listen to our interview on The Daily Signal or read a lightly edited transcript at DailySignal.com.