Washington Today (3-22-23): Fed raises interest rates 0.25%, says U.S. banks are 'sound & resilient'

Federal Reserve raises interest rates a quarter of a percent, continuing the historic year-long string of rate hikes to reduce high inflation, but a smaller increase than recent ones. This comes two weeks after two bank failures in the U.S.

Fed Chair Jerome Powell says the U.S. banking system is sound and resilient, and is changing the language a bit about the possible schedule of future interest rate increase. We hear from the Fed Chair and with MarketWatch Senior Reporter Greg Robb.

CEO of pharmaceutical company Moderna tells a Senate Committee why the price of its COVID-19 vaccine will quadruple – to about $130 per dose – once the government stops being the sole purchaser this year with the end of the national health emergency.

Both Ohio Gov. Mike DeWine and a resident of East Palestine, Ohio testify before another Senate Committee about fears and concerns, both health-related and economic, that are still present following the train derailment and toxic chemical spill in February.

Secretary of State Antony Blinken goes before a Senate Appropriations Subcommittee about the president fiscal year 2023 budget request for foreign operations, getting questions about divisions in the Republican party over aid to Ukraine to help that country fight off Russia's military invasion and about the U.S.-Mexico border and drug smuggling..

And the Supreme Court hears a case pitting First Amendment right to make fun of a commercial product and a company's trademark protection not to have consumers confused by the knock-off. The product in this case is a dog toy named Bad Spaniels parodying the whiskey Jack Daniels.

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