Capitol Report (July 27): Fed Hikes Rate to Slow Inflation; US, Russia Top Diplomats Set to Meet

President Joe Biden is back in the Oval Office after quarantining for nearly a week. Now, on the top of his agenda is a conversation with China’s leader Xi Jinping.

In a major move by the Federal Reserve, the central bank is scrambling to cool down white-hot inflation by hiking the interest rate again.

With the U.S. economy in question, we caught up with a member of the House and the Senate to discuss.

The Senate has passed a $52 billion bill to boost U.S. tech over China, but Sen. Marco Rubio (R-Fla.) is slamming the legislation for failing to protect U.S. tech from Chinese espionage and theft. What’s coming next?

The U.S. military and Senate Minority leader Mitch McConnell are responding to House Speaker Nancy Pelosi’s possible trip to Taiwan.

With an increase in crime throughout the country, Senate Republicans revealed legislation to strengthen crime laws.


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