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In our news wrap Tuesday, Federal Reserve chair Jerome Powell said high inflation and a robust economy may mean more interest rate hikes, Mexican officials confirmed two kidnapped Americans have been found dead, President Biden proposed raising taxes on those making more than $400,000, Israeli troops killed six Palestinians in the occupied West Bank, and workers in France staged a massive strike.
Good evening, and welcome. I'm Amna Nawaz.
On the "NewsHour" tonight: As campaigns to become the next Republican presidential nominee ramp up, we speak to a current and former governor about the direction of the GOP.
FOX News uses selective clips of Capitol security footage provided by House Speaker Kevin McCarthy to spread misinformation about what happened on January 6.
And a ruling by a Texas judge on birth control threatens a nationwide program that provides contraception to minors without requiring their parents' permission.
Elizabeth Sepper, University of Texas at Austin: We're seeing a movement that maybe began with a religious exemption, and we're moving toward an agenda that says let me structure all of health care according to my morals.
Good evening, and welcome to the "NewsHour."
The U.S. Federal Reserve is putting Congress in the country unnoticed tonight more and larger interest rate hikes may be coming and may be lasting longer than expected.
At a Senate hearing today, Fed Chair Jerome Powell cited stubbornly high inflation and a robust economy. But Democrats, including Elizabeth Warren of Massachusetts, complained rate hikes could bring on recession and hurt workers.
If you could speak directly to the two million hardworking people who have decent jobs today who you're planning to get fired over the next year, what would you say to them? How would you explain your view that they need to lose their jobs?
Jerome Powell, Federal Reserve Chairman:
I would explain to people more broadly that inflation is extremely high, and it's hurting the working people of this country badly. All of them, not just two million of them, but all of them are suffering under high inflation. And we are taking the only measures we have.
The Fed holds its next meeting on interest rates in two weeks.
Mexican officials confirmed today that two of four kidnapped Americans have been found dead. The four crossed Friday into Matamoros across from Brownsville, Texas, so that one of them could have cosmetic surgery. They were caught in a gunfight between rival drug cartels and then abducted. The two survivors were found today in a rural area and driven back to Texas for medical treatment.
Israeli troops have killed at least six Palestinians in a gun battle in the occupied West Bank. Smoke rose today above Jenin as soldiers tried to arrest of man in the killing of two Israeli brothers. Militants opened fire and the Israelis fired missiles. The suspect was killed. More than 60 Palestinians and 14 Israelis have died in violence this year.
China's new foreign minister is sounding a stern new warning to Washington as relations hit new lows. Qin Gang today held his first news conference since taking office late last year. And he talked tough about U.S. policy toward China.
Qin Gang, Chinese Foreign Minister (through translator):
If the U.S. does not hit the brake, but continues to speed down the wrong path, no amount of guardrails can prevent derailing, and there will surely be conflicts and confrontation. Such a competition is a reckless gamble with the fundamental interests of the two peoples and the future of humanity.
In turn, White House national security spokesman John Kirby said the U.S. does not seek conflict on Taiwan or any other issue.
The National Transportation Safety Board will open a special investigation into Norfolk Southern railroad. Today's announcement follows a derailment involving a toxic material in East Palestine, Ohio, and four other significant accidents since December of 2021. The NTSB says it wants a broad look at the railroad's safety culture.
President Biden today proposed raising Medicare taxes on those making more than $400,000 a year. The White House said it would keep the program solvent for an extra 25 years, but it drew a sharply partisan response from Republican and Democratic leaders in the Senate.
Thank goodness the House is Republican. Massive tax increases, more spending, all of which the American people can thank the Republican House for, will not see the light of day.
I anticipate the president's budget will address what Americans care most about, extending Medicare solvency by 25 years, beyond 2050, without costing a penny in benefits. That is great.
Federal officials project that, without some kind of action, Medicare benefits might be cut starting in the year 2028.
President Biden is also considering a return to detaining migrant families who enter the U.S. illegally. The "NewsHour" confirmed that today with multiple sources. It comes as officials expect a new surge of crossings when COVID restrictions end in May.
The Justice Department has filed suit to block JetBlue Airways from buying Spirit Airlines. The suit charges the merger would cut competition and raise prices. DOJ lawyers say a buyout of Spirit would eliminate about half of all low-cost airline seats.
And on Wall Street, stocks retreated on the Federal Reserve warnings about inflation and interest rates. The Dow Jones industrial average lost 575 points, or 1.7 percent. The Nasdaq fell 1.2 percent. The S&P 500 shed 1.5 percent.
Still to come on the "NewsHour": how a lawsuit is putting a nationwide birth control program for minors at risk; a renowned architect reconsiders his industry's impact as he receives the prestigious Pritzker Prize; an Iraqi American photo journalist gives his Brief But Spectacular take on refugees.
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