1/ Biden pardoned anyone convicted of marijuana possession under federal law and urged governors to do the same. Biden also said his administration would review whether marijuana should continue to be listed as a Schedule 1 drug like heroin and LSD, saying that “makes no sense.” The pardons will clear about 6,500 people who were convicted on federal charges of simple possession from 1992 to 2021, as well as thousands more who were convicted under a Washington, D.C. code. (CNBC / New York Times / CNN / NBC News / Washington Post)

2/ A federal judge temporarily blocked enforcement of large parts of New York’s gun law. In a 53-page order, Judge Glenn Suddaby ruled that multiple provisions in the state’s new law are unconstitutional, including the restrictions on the ability to carry a gun in “sensitive places,” such as Times Square, the subway, libraries, public playgrounds, and zoos. State Attorney General Letitia James said her office would appeal the decision, adding that “common-sense gun control regulations help save lives.” (Associated Press / New York Times / CNN / NBC News / Politico)

3/ Biden said the U.S. is eyeing “alternatives” to oil from OPEC Plus countries as gasoline prices begin the climb again. After a roughly 100-day decline, gas prices in the U.S. rose nearly 3 cents a gallon to $3.83 a gallon – the biggest one-day hike in nearly four months. OPEC Plus announced yesterday that it would reduce its production by two million barrels a day to raise oil prices. The Biden administration, meanwhile, has reportedly discussed easing sanctions on Venezuela to allow Chevron to resume pumping oil there. The National Security Council, however, said there are no plans to change its sanctions policy toward Venezuela unless President Nicolas Maduro’s government “restores democracy” in the country. Venezuela has been under economic and oil sanctions since 2019, when the U.S. and dozens of its allies declared that opposition leader Juan Guaidó was Venezuela’s legitimate president. (New York Times / CNN / Wall Street Journal)

4/ The Federal Reserve said inflation has remained “stubbornly persistent” and that its benchmark interest rate will probably be at 4.5% to 4.75% by next spring or “until we are confiden...