News Wrap: Federal Reserve Chairman expects interest rates to rise this month


Judy Woodruff:

Police also towed cars and arrested at least 65 people. It came as New Zealand faces its biggest outbreak yet, with the spread of Omicron.

In neighboring Australia, thousands of people have been ordered to evacuate near Sydney, and the death toll has reached 14 following record flooding. A powerful thunderstorm cell dumped up to eight inches of rain after rolling south from Brisbane. Rivers along Sydney’s western edge have reached historic levels and officials have warned the flooding could be the worst in more than 60 years.

The United Nations will start drafting a global treaty on plastic pollution. A total of 175 countries unanimously agreed today to present a proposed document by 2024. It is supposed to be legally binding and cover the life cycle of plastics, from production to design to elimination.

Back in this country, Republican congressman from Texas, Van Taylor, dropped out of his re-election bid after admitting an extramarital affair. He had been forced into a second round in Tuesday’s primary. In other results, Republican Gov. Greg Abbott and Democratic challenger Beto O’Rourke will square off in November.

Trump-backed Republican Attorney General Ken Paxton will meet George P. Bush in a runoff in May. And Democratic Congressman Henry Cuellar also faces a May runoff with Jessica Cisneros, his progressive opponent.

And on Wall Street, stocks rebounded on hopes that any interest rate hikes by the Federal Reserve will be modest. The main indexes rose more than 1.5%. The Dow Jones Industrial Average gained nearly 600 points to close at 33,891. The Nasdaq rose 219 points. The S&P 500 added 80.


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