National

Note: Yield on five year Treasury Inflation Protected Securities; Data: Federal Reserve, FactSet

Federal Reserve officials have watched closely as interest rates plunged the last few weeks. Apparently, they don't like what they see.

Driving the news: Markets were becoming too confident in future easing, starting to price in only modest rate increases, and possible cuts next year. That has partially reversed this week after some hawkish Fed talk.

Why it matters: Traders have been betting that the Fed will eventually back off its tightening campaign, but the Fed is saying "not so fast."

State of play: The yield on 10-year Treasury bonds has fallen from 3.48% in mid-June to 2.61% Monday, as investors started to bet on lower inflation. With that may come less aggressive monetary tightening.

That's fed lower mortgage rates, and fueled a July surge in risk-sensitive assets.

To an extent, markets were declaring "mission accomplished," with pricing implying the Fed's war on inflation was close to being won.

Yes, but: Markets have gotten ahead of the Fed itself. The central bank is giving the clear sense they still need to keep pushing rates upward and do not expect to end up cutting next year.

“We are still resolute and completely united on achieving price stability, which doesn’t mean 9.1% inflation...so a long way to go," said Mary Daly, San Francisco Fed President, in an interview on LinkedIn. “It really would be premature to unwind all of that and say the job is done."

Cleveland Fed President Loretta Mester told the Washington Post that she needs to see "very compelling evidence" price pressures are receding.

And Minneapolis Fed President Neel Kashkari pronounced himself "surprised by markets' interpretation," telling the New York Times the Fed will "continue to do what we need to do until we are convinced that inflation is well on its way back down to 2 percent — and we are a long way away from that.”

In an interview with Axios, Richmond Fed President Tom Barkin emphasized the need for policy that's appropriately restrictive.

"I think we’re going to need to get real forward-looking interest rates into positive territory throughout the yield curve," Barkin told Axios Raleigh's Zachery Eanes. "Near-term rates are not above near-term inflation and I think we're going to need that."

The Fed officials are worried that market moves are undermining their tightening strategy — and implicitly, that they are more determined to keep up the pressure than market prices imply.

Bonds are getting the message. The 10-year yield was back up to 2.82% Wednesday morning, and the five-year real yield reached 0.19% Wednesday morning.

The bottom line: There is a dance occurring between the Fed and markets, with the central bank pushing back when markets turn complacent. There should be a lesson for anyone who expects the path toward disinflation to be painless.

Fed to markets: Not so fast on the end of rate hikes

Central bankers see the monetary tightening continuing.

Federal Reserve

Economy & Business

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Sen. Kyrsten Sinema (D-Ariz.) is eyeing changes to Democrats' $740 billion reconciliation bill — specifically increasing climate funding and restructuring the tax provisions — as the Senate moves rapidly toward final passage before the August recess, Axios has learned.

Why it matters: Sinema is the one senator potentially standing in the way of Democrats clinching President Biden's longtime goal of passing an ambitious package tackling climate change, health care and taxes — renamed the "Inflation Reduction Act of 2022."

That position gives her a huge amount of leverage as Democrats await a verdict from the Senate parliamentarian over whether the bill complies with the "Byrd Rule," which controls what provisions can be included in the budget reconciliation process.

The fact the negotiations were conducted entirely in secret between Senate Majority Leader Chuck Schumer (D-N.Y.) and Sen. Joe Manchin (D-W.V.) — catching Sinema by surprise — has left her space for an 11th hour intervention.

Sinema has so far refused to weigh in on whether or not she will support the bill until the parliamentarian renders her judgment on the measure.

What we're hearing: Sinema is looking at significantly beefing up the reconciliation bill's funding for droughts and water security in the Southwest, sources familiar with her thought process tell Axios.

She views the current $369 billion climate and energy portion of the bill as insufficient for addressing threat resiliency funding.

On taxes, Sinema has concerns with the structure of the 15% corporate minimum "book tax" and whether the burden could get passed down to employees, the sources said.

Sinema supports cracking down on tax avoidance, but has long voiced her opposition to closing the carried interest loophole.

She's concerned that the provision, which would contribute $14 billion toward paying down the bill's $740 billion total, could undermine economic competitiveness, the sources said.

Behind the scenes: Sinema has been meeting privately, both virtually and in-person, with key stakeholders in Arizona as she continues to work through her assessment of the bill.

Sinema last week visited Flagstaff, Arizona, where she met with local officials who are still reeling from recent flooding and a wildfire that ravaged the state.

Arizona is one of the fastest-warming states in the U.S., and the state's largest county, Maricopa County, has already hit a record for heat-related deaths this year.

"There are some who were surprised to learn Kyrsten was enthusiastic about the climate provisions last year, because they rightly consider her a centrist. But she's a Senator from Arizona, first and foremost," John LaBombard, Sinema's former communications director and SVP at ROKK Solutions tells Axios.

In a phone call Tuesday with Arizona's Chamber of Commerce, local business leaders and manufacturers discussed with Sinema what the proposed 15% corporate minimum tax and closure of the carried interest loophole would mean for Arizona. 

The private equity industry, which has contributed heavily to Sinema, is lobbying her heavily on shooting down the carried interest portion.

"I remember last year, she was hearing feedback from small business owners, concerned about the potential implications of any tax policy changes, and how it might affect their capital investment streams,'" LaBombard said.

"She is somebody who errs on the side of caution when it comes to changing tax policies. ...  obviously, I think [their input] shaped where she is on the economic parts of this bill."

What they're saying: "What’s clear from our conversation is she’s taking a thoughtful and diligent approach as she considers her position on this legislation," Danny Seiden, CEO of the Arizona Chamber, told Axios' Hans Nichols.

"She was very interested in learning what specific impacts the tax provisions will have on Arizona manufacturers — and we believe she will consider these implications seriously as negotiations continue over the coming days.” 

Sinema eyes changes to tax, climate portions of reconciliation bill

Sinema is the one person potentially standing in the way of Democrats'  $740 billion reconciliation package.

Kyrsten Sinema

President Biden has made the COVID-19 crisis and a post-Trump return to national unity and traditional democratic ideals his top priorities. From vaccinations to stimulus to schools, Biden is seeking bipartisan compromise while showing a willingness to use executive authority and bare Democratic majorities in the U.S. House and Senate to implement his policies. Republican leaders are navigating deep party divisions over if and how to move beyond former President Trump.

Politics & Policy

Ominous forecasts about the impact of climate change serve as the backdrop for the world — led by U.S. lawmakers and companies — to debate big action on the problem, which could upend energy systems and our way of life.

Energy & Environment

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Cities with record-high July average temperatures

Data: Southeast Regional Climate Center; Map: Erin Davis/Axios Visuals

New data shows that at least 43 locations across the U.S. set or tied for their hottest July on record, according to data from the National Oceanic and Atmospheric Administration (NOAA) via the Southeast Regional Climate Center.

Driving the news: The record-breaking temperatures were concentrated in Texas, Tennessee, Alabama, Mississippi, North and South Carolina and Oregon.

By the numbers: Also in July, at least 79 localities recorded their warmest average overnight low temperatures for the month, including nine that tied their records, while 38 locations had their hottest average maximum temperatures.

In the Texas town of College Station, a previous 2009 record for its hottest average temperatures in July was shattered by 1.8°F, reporting an average temperature of 90.9°F.

Salt Lake City had an average monthly temperature of 87.3°F, which was 1.6°F hotter than its previous all-time record for the month, which was set last year.

San Antonio not only had its hottest July on record, with an average temperature of 89.8°F, which was 5°F above average for the month, but it also had its third straight month of record-breaking heat.

Two of the locations are relatively difficult to break all-time heat records, and reflect warmer than average ocean temperatures, also related to climate change. These include Nantucket, Massachusetts, which beat its old monthly record by 1.3°F, and Robbinston, Maine. 

The long duration heat in Texas, is noteworthy since it overlaps with a widespread, severe drought. A total of 60% of the state is in the most severe two categories of drought. 

This makes it easier for the air to reach extremely hot temperatures, but also further dries out soils in a feedback loop.

The intrigue: 11.4% of the 996 stations in the dataset recorded either their first, second or third-hottest July ever.

13% of them registered their first, second or third-highest average minimum temperatures for that month.

Since July tends to be the warmest month of the year in much of the U.S. and Northern Hemisphere, many of the records also qualified as new milestones for the hottest month of any month on record.

Why it matters: In an average year, extreme heat is the leading weather-related killer in the U.S., according to the Centers for Disease Control and Prevention and the National Weather Service.

Human-caused global warming from fossil fuel burning and other sources makes heat waves more likely, severe, frequent and longer-lasting.

Extreme temperatures can affect power grids by boosting energy demands, exacerbate already-dire drought conditions and contribute to the frequency and intensity of wildfires. 

A heat wave that recently hit the Pacific Northwest has killed at least seven people so far. 

And yet another heat wave is gripping the U.S.: On Wednesday, the heat is shifting east into the Plains, Midwest and Mid-Atlantic states, with more than 100 million under heat advisories yet again. 

The big picture: Parts of the U.S. were engulfed by a heat wave last month that broke hundreds of daily and monthly weather records and put more than 100 million Americans under heat warnings and advisories for several days.

It came after another extensive record-breaking heat wave persisted over large swaths of the country for several weeks in June.

The numerous nighttime temperature records broken last month is consistent with a trend caused by climate change: that nights on average are heating up faster than days.

Abnormally hot temperatures throughout the night prevent people from cooling off from the day's heat, which greatly increases the risk of heat-related hospitalizations and deaths.

Warm overnight temperatures can also contribute to wildfire intensity, since fire behavior typically dies down overnight when temperatures dip, the air cools and humidity increases. When this fails to take place, fires seize the opportunity to grow overnight as well.

More than 39,ooo wildfires have burned over 5.75 million acres since Jan. 1 across the U.S., it added. The 10-year average for acres burned to date across the country is just 3.6 million acres. 

Go deeper: We haven't built for this climate

July heat records shattered across the U.S.

Many locations broke previous records by several degrees, particularly in Texas.

extreme weather

Extreme weather

Climate change

A look at the scientific breakthroughs changing the world, explorations in space and in worlds beyond our own and the threats posed to us by our own planet, both out of our control and of our own making.

Science

President Biden on Wednesday issued an executive order to protect people's ability to travel out of state to access abortion.

The big picture: This is the second executive order the president has issued to preserve abortion access after the Supreme Court's ruling overturning Roe v. Wade. 

State of play: Biden signed the executive order during the first meeting of the White House's Task Force on Reproductive Health Care, which is focused on coordinating the federal government's efforts on reproductive health.

Details: The executive order directs the Department of Health and Human Services to "consider action to advance access" to reproductive health services, including through Medicaid for patients who travel out of state.

Biden is also asking HHS Secretary Xavier Becerra to consider "all appropriate actions" to ensure that health providers follow federal nondiscrimination laws so that people can "receive medically necessary care without delay."

Becerra must also "evaluate and improve research, data collection, and data analysis efforts" on maternal health.

What he's saying: Biden said this executive order will respond to "the health care crisis that has unfolded since the Supreme Court overturned Roe and that women are facing all across America."

The order will "help safeguard access to health care, including the right to choose and contraception. [It] promotes safety and security of clinics, patients and providers, and protect patients' privacy and access to accurate information." 

"I believe Roe got it right. It's been the law for close to 50 years. And I committed to the American people that we are doing everything in our power safeguard access to health care, including the right to choose that women had under Roe v. Wade, which was ripped away by this extreme court."

Zoom out: Although the Biden administration has taken several steps to respond to the Supreme Court ruling, the executive branch's role when it comes to protecting abortion care is limited without congressional action.

The president is calling on Congress to codify abortion access into federal law, and has said he supports changing filibuster rules to make it possible for abortion legislation to pass in the Senate.

Where abortion has been banned now that Roe v. Wade is overturned

Where abortion access is guaranteed without Roe v. Wade

Biden issues second executive order to protect abortion access

Biden's executive order is aimed at protecting people's ability to travel out-of-state to access abortion.

Joe Biden

The U.S. faces a range of health care flashpoints — unaffordable drugs, opioids, vaping — as we debate whether to adopt universal care. For now, the Affordable Care Act is the law of the land, but Republicans want to issue it a final death blow.

Health

Primary election status of House Republicans who voted for Donald Trump's impeachment

Data: Axios research; Table: Kavya Beheraj/Axios

At least six of the ten House Republicans who voted for former President Trump's impeachment last year will not return next Congress — and that number is poised to rise.

Why it matters: The bleak political future for those who broke with the ex-president over Jan. 6 underscores how inhospitable the party has become to Trump critics.

Driving the news: Rep. Peter Meijer (R-Mich.) lost his primary on Tuesday to Trump-backed former HUD official John Gibbs, despite heavily outspending him.

Gibbs got an eleventh hour assist from House Democrats — hoping to clear an easier general election path for Democrat Hilary Scholten — much to the chagrin of lawmakers in both parties.

The backdrop: Meijer is the second impeachment Republican to lose reelection this year.

Rep. Tom Rice (R-S.C.) lost his primary in June to Trump-endorsed state Rep. Russell Fry by more than 25 points.

By the numbers: Four of the impeachment Republicans are not even trying for reelection after announcing plans to retire.

Rep. Adam Kinzinger (R-Ill.), a member of the Jan. 6 committee, and Reps. Anthony Gonzalez (R-Ohio), John Katko (R-N.Y.) and Fred Upton (R-Mich.) are all stepping down this term.

Kinzinger, Gonzalez and Upton faced Trump-endorsed primary foes and, in some cases, saw their paths to victory further complicated by redistricting.

What we’re watching: Reps. Dan Newhouse (R-Wash.) and Jaime Herrera Beutler (R-Wash.) faced primaries on Tuesday as well, and while the races remain uncalled, both appear well-positioned to advance to the general election.

What is less clear is whether they will advance with Democratic opponents or Trump-endorsed Republicans running to their right.

What’s next: The impeachment Republicans still standing aren’t out of the woods yet.

Trump-backed Harriet Hageman is favored to beat Rep. Liz Cheney (R-Wyo.), the Jan. 6 committee vice chair, in the Aug. 16 primary. 

Herrera Beutler, even if she gets a Democratic opponent, is in a district that voted for Trump by just 5 points in 2020 — though she would be favored to win.

Rep. David Valadao (R-Calif.), who beat several right-wing challengers, is in a district that voted for President Biden by double digits, and he faces a credible Democratic opponent in state Rep. Rudy Salas.

Impeachment Republicans dwindle

At least six of the ten House Republicans who voted for Trump's impeachment last year will not return next Congress.

Donald Trump impeachment

Midterm Elections 2022

Tel Aviv

Axios from Tel Aviv

Several senior Iranian officials and politicians have opened the door over the last two weeks to the possibility of producing nuclear weapons — despite the fact that Iran has long maintained it will never do so.

Driving the news: Iran says Supreme Leader Ali Khamenei issued a fatwa — a legal Islamic ruling — against nuclear weapons. But in an unusual statement on Tuesday, Iranian MP Mohammad-Reza Sabbaghian Bafghi warned that Parliament could ask Khamenei to revise his fatwa if Iran's "enemies... continue their threats."

That followed a string of statements from other political figures saying Iran could produce a nuclear weapon if it so chose.

What they're saying: “It is no secret that we have the technical capabilities to manufacture a nuclear bomb, but we have no decision to do so," former Iranian foreign minister Kamal Kharrazi, who now heads Iran’s Strategic Council on Foreign Relations, told Al Jazeera two weeks ago. 

Soon after, Mohammad-Javad Larijani, a former diplomat and an adviser to Khamenei, said Khamenei's fatwa doesn’t allow the pursuit of nuclear weapons — “but if we want to do this, no one can stop us."

Mohammad Eslami, the head of Iran's Atomic Energy Organization, then joined the debate. He reiterated that Iran has the technical capability to build a nuclear bomb but stressed it has no intention of doing so. 

Eslami's spokesperson later clarified that his remarks were misunderstood. "Iran doesn’t need nuclear weapons due to its strategic capabilities, and will never move towards this direction," he said.

Last Sunday, an unofficial Telegram channel affiliated with the Islamic Revolutionary Guard Corps posted a warning that if Iran’s nuclear facilities are attacked, Iran could immediately return to the AMAD project, Iran’s clandestine effort to build a nuclear bomb which was shut down in 2003. 

The other side: Israeli Prime Minister Yair Lapid made an unusual statement of his own during an event with Israel’s Atomic Energy Commission, hinting at Israel’s nuclear weapons.

“The operational arena in the invisible dome above us is built on defensive capabilities and offensive capabilities, and what the foreign media tends to call ‘other capabilities.’ These other capabilities keep us alive and will keep us alive so long as we and our children are here," Lapid said.

Between the lines: Raz Zimmt, a top Israeli expert on Iran at Tel Aviv University, said the "unusual" and "concerning" Iranian statements are largely a response to Israel's increasing threats of a potential military option against Iran’s nuclear facilities.

“However, we shouldn’t rule out the possibility for a renewed debate among Iranian decision-makers about the possibility of changing Tehran's nuclear strategy, 19 years after it decided to freeze its military nuclear program," Zimmt told me. 

Go deeper: Iran nuclear talks to resume in Vienna on Thursday

Renewed debate in Tehran about producing nuclear bomb

Several senior Iranian officials have opened the door over the last two weeks to the possibility of producing nuclear weapons.

Illustration of a question mark with a nuclear symbol as the dot on the bottom. 

Nuclear program of Iran

Iran

China is becoming the most formidable rival America has faced, and the risk of confrontation with Russia, North Korea or Iran still looms. Authoritarians are rising, the chaotic Afghanistan exit revealed the limits of U.S. power, and the pandemic, climate change and other critical challenges continue to pose grave threats.

World

Two secretaries of state who were threatened after recent elections called on Congress Wednesday to protect election workers who have been harassed while doing their jobs.

Why it matters: In testimonies before a Senate panel, Michigan Secretary of State Jocelyn Benson and her New Mexico counterpart Maggie Toulouse Oliver described election workers as targets for mistreatment because of rhetoric from political leaders.

Toulouse Oliver said "election workers have been caught in the crossfire and have themselves become the targets of harassment and threats.”

"We cannot have a secure democracy if we do not protect the security of the people who administer, protect and stand guard over our elections," Benson said during her remarks to the Senate Judiciary Committee.

Election workers have been deterred from taking the roles in the future, Benson added. She called on Congress to limit access to personal information about election workers.

By the numbers: About 1 in 5 local election officials said they'd likely leave their jobs before the 2024 presidential election because of attacks on the election system and stress from the job, among other reasons, Axios reports.

Benson said she experienced threats first-hand when people "shouting obscenities and graphic threats into bullhorns in the dark of night" arrived outside her home in December 2020 after election results were certified in Michigan.

Toulouse Oliver said she received three threatening phone calls after New Mexico's June 2022 primary election.

The big picture: The U.S. has seen an uptick in threats against election workers during and after the 2020 election, Axios' Shawna Chen writes.

The Election Threats Task Force was launched in June 2021 to help respond to the increasing amount of threats.

Election workers "in the crossfire" of fraud rhetoric, secretaries of state say

The U.S. has seen an uptick in threats against election workers during and after the 2020 election.

Secretary of State Jocelyn Benson speaks during a press conference.

Secretary of State Jocelyn Benson speaks during a press conference. Photo: Kent Nishimura/Los Angeles Times via Getty Images

Voting

House Speaker Nancy Pelosi departed Taiwan on Wednesday, concluding a highly watched visit that the senior Democrat said underscored the U.S.' "commitment to democracy," even as it angered China.

Why it matters: Pelosi's visit makes her the most senior American lawmaker to travel to Taiwan since 1997. She made the trip despite President Biden's warning last month that military officials advised against it.

The big picture: Pelosi and other members of her delegation on Wednesday met with President Tsai Ing-wen and other Taiwanese officials and visited Taiwan's National Human Rights Museum, where they had a roundtable discussion with human right's activists, per a statement from the American Institute in Taiwan, the de facto U.S. embassy.

The U.S. delegation and their Taiwanese counterparts discussed a "a wide range of issues of importance to both the United States and Taiwan, including peace and security, economic growth and trade, the COVID-19 pandemic, the climate crisis, human rights, and democratic governance," the statement added.

"Now more than ever, America's solidarity with Taiwan is crucial," Pelosi said in a speech Wednesday during a meeting with the president.

"Today our delegation, of which I'm very proud, came to Taiwan to make unequivocally clear we will not abandon our commitment to Taiwan and we're proud of our enduring friendship," Pelosi added.

What they're saying: The Chinese government "may prevent Taiwan from sending its leaders to global forums, they cannot prevent world leaders or anyone from traveling to Taiwan to pay respect to its flourishing Democracy, to highlight its many successes and to reaffirm our commitment to continued collaboration," Pelosi said in a statement Wednesday.

“This visit is part of our broader travels in the Indo-Pacific, focused on security, prosperity and governance — on which Taiwan is a global leader," she added.

"America’s solidarity with the people of Taiwan is more important today than ever, as we continue to support the defense of democracy against autocracy in the region and in the world."

State of play: The Chinese government has repeatedly vowed to take control of Taiwan, by force if necessary. It continues to react furiously to any gesture that seems to treat Taiwan as an independent state.

China warned of a "strong and resolute" military response to Pelosi's visit ahead of her arrival. On Tuesday, China's Foreign Affairs Ministry condemned Pelosi's visit as an infringement on China's "sovereignty and territorial integrity."

China also warned airlines to avoid airspace near the island ahead of live-fire military drills this week and blocked fish and citrus fruit imports from Taiwan in retaliation for Pelosi's trip.

Pelosi leaves Taiwan, ending controversial visit

Pelosi and other members of her delegation met with Taiwanese President Tsai Ing-wen on Wednesday.

Nancy Pelosi speaks after receiving Taiwan’s highest civilian honour Aug. 3 in Taipei. Photo: Handout/Getty Images

Taiwan

The U.S. and Iran will resume indirect talks on reviving the 2015 nuclear deal in Vienna on Thursday, a U.S. official told Axios.  

Why it matters: U.S. officials are concerned the nuclear deal is close to becoming irrelevant, as Iran has taken steps to advance its nuclear program and limit the work of UN inspectors. 

"We are headed back to Vienna with low expectations but are going to make a good faith effort," the U.S. official said.

The big picture: EU foreign policy chief Josep Borrell recently presented a new and updated draft agreement and called on Iran to make a decision on the proposal. 

Borrell wrote in a Financial Times op-ed last week that after 15 months of negotiations, he has concluded that “the space for additional significant compromises has been exhausted."

But Borrell added that his draft agreement "represents the best possible deal …  decisions need to be taken now … if the deal is rejected, we risk a dangerous nuclear crisis."

What they're saying: EU political director Enrique Mora, who is the coordinator of the talks, tweeted on Wednesday that he was on his way to Vienna and that the talks will focus on the draft the EU has proposed. 

The U.S. official told Axios that Thursday's talks won’t be a new round of negotiations but an attempt to see whether it was possible to do the “fine-tuning” needed to reach an agreement on the basis of the draft.

“If Borrell thinks this is necessary to see that we haven’t left any stone unturned, we appreciate it and are ready to do it but we are entering this with our eyes wide open," the U.S. official said.

The official added that everyone knows what the agreement needs to look like and stressed that, to get a deal, Iran needs to lift its demands about issues that are outside the 2015 nuclear agreement.

The U.S. official stressed that while Iran is advancing its nuclear program during the negotiations, the U.S. is not sitting idly by and is continuing to put more pressure on Iran by imposing additional sanctions. 

State of play: The most recent round of indirect talks between the U.S. and Iran a month ago in Qatar ended with no progress and no date set for another round.

During his trip to the Middle East, President Biden said the U.S. wouldn't "wait forever" for Iran to respond to its proposal to revive the deal.

Go deeper: Biden adviser says return to Iran deal "highly unlikely" in near future 

Editor's note: This story has been updated with additional details throughout. 

Iran nuclear talks to resume in Vienna on Thursday

A U.S. official said the Biden administration has "low expectations," but will "make a good faith effort."

Iran deal

Political leaders and climate activists often say that human-caused climate change presents an existential threat to humanity, or could lead to a global catastrophe, but this is rarely defined. 

Driving the news: A group of top climate scientists has come forward to argue that more rigorous research is urgently needed into such worst-case scenarios, which they call a "climate endgame."

In a new perspective piece in the Proceedings of the National Academy of Sciences, 11 researchers from around the world put forward a research agenda into the consequences of global warming that reaches the higher end of plausible scenarios, amounting to 3°C (5.4°F) or greater, by the end of the century.

Why it matters: According to the paper, worst-case scenarios have been understudied by organizations such as the U.N. IPCC due to the focus on the Paris Agreement's temperature goals, as well as the inherent cautiousness of climate scientists whose culture eschews alarmism.

Climate change catastrophes need greater study, scientists warn

"This isn’t about disaster voyeurism; it is about understanding plausible catastrophic risks so we can prevent them."

Wednesday's top stories

Fed to markets: Not so fast on the end of rate hikes

Sinema eyes changes to tax, climate portions of reconciliation bill

July heat records shattered across the U.S.

Biden issues second executive order to protect abortion access

Impeachment Republicans dwindle

Renewed debate in Tehran about producing nuclear bomb

Election workers "in the crossfire" of fraud rhetoric, secretaries of state say

Pelosi leaves Taiwan, ending controversial visit

Iran nuclear talks to resume in Vienna on Thursday

Climate change catastrophes need greater study, scientists warn

First look: Former Treasury secretaries push Manchin bill

Alex Jones uses bankruptcy to limit Sandy Hook reckoning, again

Scoop: 2024 GOP hopefuls back Trump's plan to purge civil servants

The future of America's EV charging network takes shape

States' fight over abortion information catches tech in crossfire

Pelosi to Taiwan president: "We will not abandon our commitment" to island

China warns airlines to avoid airspace near Taiwan

Kansas voters reject anti-abortion constitutional amendment

Missouri Attorney General Eric Schmitt wins GOP Senate primary