The first thing you need to know today is the Federal Reserve is going to increase interest rates again on Wednesday, but we don't know whether it will be a half-point hike or a quarter-point hike. This is part of the extensive measures to stop inflation, and it is definitely working!
On a related government note, President Joe Biden is also set to meet House Speaker Kevin McCarthy on Wednesday as well, to discuss the ongoing issue of the debt ceiling. The US government has reached its debt limit, and the Treasury Department are doing their best to hold off the US paying its bills as long as possible.
Lastly, we have some more weather issues today. A massive winter storm is boring down on over 25 million people today, with heavy rain and snow possible from Texas to Illinois. A huge cold front is also moving in from the north, so wind chills could plunge to up to 45 degrees below zero! Some light rain showers are also in the forecast in the next few days for the Southeast, New England, Lower Mississippi, Tennessee, and Ohio Valleys, and Mid-Atlantic regions.
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