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      Federal Reserve Board Chairman Jerome Powell holds a news conference following a Federal Open Market Committee meeting on March 22, 2023 in Washington, D.C.

      The Fed Accused of 'Playing With Fire' After Latest Rate Hike

      "It shouldn't take a lot of courage to resist another interest rate hike when the economy is this fragile," said one critic.

      Jessica Corbett
      Mar 22, 2023

      Progressive economists and other experts blasted Federal Reserve leadership on Wednesday for raising interest rates yet again despite concerns about recent bank failures and how the quarter-point increase will impact the U.S. and global economies.

      "Once again, interest rate hikes are going to fall hardest on low-wage workers and the poor—the same people who have already been hurt the most by rising prices," tweeted University of California, Berkeley professor and former Labor Secretary Robert Reich. "Higher rates could also imperil more banks, and risk even more financial chaos. The Fed is playing with fire."

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      Analysis Shows Major US Oil Companies Raked in $290 Billion in Profits Last Year

      "With $290 billion in profits, Big Oil made enough money in 2022 to end world hunger, pay off U.S. medical debt, and build 10 Disney Worlds, but instead used their record profits to shower $163 billion on shareholders."

      Brett Wilkins
      Mar 06, 2023

      An analysis published Monday by the watchdog Accountable.US revealed that the biggest oil companies operating in the United States raked in a collective $290 billion in profits last year while they "consistently prioritized shareholder returns over alleviating the pressure of high energy prices."

      According to the report—which analyzed 26 oil companies doing business in the U.S.—the $290 billion in collective 2022 Big Oil profits marked a 126% increase from the previous year. Fossil Fuel giants including BP, Shell, and Chevron more than doubled their net income in 2022, while smaller players like Murphy Oil And Southwestern Energy saw respective increases of 1,410% and 7,496%.

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      Kevin McCarthy and Steve Scalise

      Big Business Gave Over $36 Million to GOP 'Sedition Caucus' in 2022 Election Cycle: Report

      "With many of the same MAGA election deniers now holding powerful positions that could threaten democracy and fundamental voting rights, it's critical that corporations finally stand up to their extremism—not encourage more."

      Brett Wilkins
      Feb 10, 2023

      Since the January 6, 2021 attack on the U.S. Capitol by supporters of former President Donald Trump, Fortune 500 companies and industry trade groups have given over $36 million to Republican members of Congress—the so-called "Sedition Caucus"—who attempted to overturn the results of the 2020 presidential election, an analysis published Friday by the watchdog group Accountable.US revealed.

      "The deadly insurrection at the U.S. Capitol on January 6, 2021 was the result of months of election fraud lies spread far and wide by twice-impeached former President Trump and his allies. Even after all the violence that day, 147 members of Congress and eight U.S. senators kept the 'Big Lie' alive by voting against certifying the presidential election results in some states," Accountable.US noted in its report, which analyzed year-end Federal Election Commission filings for the 2022 election cycle.

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