Politics News TheFoxPosts.com

The Federal Reserve staff expect a banking crisis to cause a recession this year. The Federal Reserve's staff is more worried about the U.S. economy tipping into a recession after the recent banking crisis, the minutes from the central bank's meeting in March reveal. Economists at the Federal Reserve said they expect a "mild" recession later this year, an escalation from their previous assessment. "Given their assessment of the potential economic effects of the recent banking -sector developments, the staff 's projection at the time of the March meeting included a mild recession starting later this year, with a recovery over the subsequent two years," according to the publicly posted minutes from the meeting, which took place over March 21-22 right after the collapse of Silicon Valley Bank and Signature Bank. The comments from economists on staff within the Federal Reserve reflect a dimmer outlook than public statements from Chairman Jerome Powell, wh...

Former Arkansas Gov. Asa Hutchinson formally launches his campaign for president on Wednesday in his hometown of Bentonville. "It reflects me," he told ABC News. BENTONVILLE, Ark. -- Former Arkansas Gov. Asa Hutchinson, a Republican who says his party should not be looking in the rearview mirror, is taking a little bit of a look back this week as he formally kicks off his campaign for the White House on Wednesday from his hometown. "It's really exciting to have it in Bentonville," Hutchinson said in an interview with ABC News on Tuesday. "First of all, it reflects me." It was 37 years ago, outside the same county courthouse where Hutchinson had tried his earliest cases as an attorney, that he announced his first campaign for statewide office. It's where, in the 1970s, he put in the town's first FM radio station, and where the now 72-year-old raised his four children. To mark the campaign kickoff , Hutchinson has sprinkled bits of his herita...

The group said this summer travel season “could be one for the record books." With the unofficial start of summer almost here -- AAA projects 42.3 million Americans will Travel 50 miles or more from home this Memorial Day weekend , a 7% increase over last year. "This is expected to be the third busiest Memorial Day weekend since 2000," Paula Twidale, senior vice president of AAA Travel, said in a statement. "This summer travel season could be one for the record books, especially at airports." AAA says nearly 3.4 million people will take to the skies over the holiday, up 11% from 2022 and 5.4% from 2019. The most popular U.S. destinations this year are Las Vegas, Atlanta, and Dallas, according to online travel booking platform Hopper. Internationally, the top spots are Cancun and Toronto, Hopper said. U.S. airfare down, but international prices are steep Travelers staying in the U.S. over the Memorial Day holiday will pay "considerably less" than wha...

The meeting, which will be the panel's tenth televised one this year, is scheduled to start at 1 p.m. Eastern. After months of political drama, the House select committee investigating the Jan. 6 attack at the U.S. Capitol holds its final public act Monday afternoon. The meeting -- the panel's tenth televised one this year -- is scheduled to start at 1 p.m. Eastern. The most important Business at hand: the committee 's decision on criminal referrals. Chairman Bennie Thompson, D-Miss., tasked a subcommittee to make recommendations on criminal referrals and to explore enforcement options for the five Republican lawmakers who ignored subpoenas to testify: Reps. Kevin McCarthy, Andy Biggs, Jim Jordan, Scott Perry and Mo Brooks. Sources familiar told ABC News the committee is preparing to urge the Department of Justice to prosecute Trump for obstruction of an official proceeding and conspiracy to defraud the United States. Another criminal charge under discussion is insurr...

The Department of Homeland Security expects an increase in migration with the rollback of Title 42. The Department of Homeland Security expects an increase in migration with the rollback of Title 42, according to a DHS Intelligence and Analysis bulletin obtained by ABC News. Title 42 is the Trump era policy, continued by the Biden administration, which expels migrants under the auspices of the pandemic. "Title 42 authorities are set to expire on 21 December, and the reversal of the policy will likely increase migration flows immediately as migrants adapt to recent changes," the bulletin dated Dec. 12 says. Migrants cross the US-Mexico border from Ciudad Juarez, Mexico, on Dec. 14, 2022. Christian Chavez/AP DHS has been planning for the end of Title 42 since March when they rolled out a six point plan, which was updated this week and includes surging resources to the border and deconflicting points of entry to ease the burden for U.S. Customs and Border Protection officers. In...