1/ The Federal Reserve approved a fourth consecutive 0.75-point interest rate increase to combat inflation, despite concern about the risks of triggering a recession and putting millions out of work. The Fed has now raised rates six times this year, pushing its target range for the benchmark federal funds rate to between 3.75% and 4% – its highest level since Jan. 2008. Fed Chairman Jerome Powell added that the “ultimate level of interest rates will be higher than previously expected,” but that “at some point” it would be appropriate to slow the pace of increases. The Federal Open Market Committee said that “ongoing increases” will still be needed to bring rates to a level that are “sufficiently restrictive to return inflation to 2% over time.” (NBC News / Bloomberg / Wall Street Journal / Washington Post / New York Times / CNN / CNBC / ABC News / Associated Press)

2/ The Biden administration will provide $13.5 billion in funds to help low- and moderate-income Americans lower their energy costs this winter. The Department of Health and Human Services will provide $4.5 billion through the Low-Income Home Energy Assistance Program to help cut heating costs, while the Energy Department will allocate $9 billion in Inflation Reduction Act funds for energy efficiency upgrades to 1.6 million low-income households. Last year, LIHEAP helped 5.3 million U.S. households with heating, cooling, and weatherization. (CNBC / ABC News / The Hill)

3/ A federal judge issued a restraining ordered against a group that’s been accused of “intimidation and harassment” of voters casting ballots at drop boxes in Arizona. U.S. District Court Judge Michael Liburdi said members of Clean Elections USA are barred from taking photos, filming, following, speaking to or yelling at anyone within 75 feet of a ballot drop box or the entrance to a building that houses one. The order also prohibits the group from “openly” carrying weapons or “visibly wear body armor” within 250 feet of drop boxes. Last week, the League of Women Voters sued the group, saying that its actions amounted to “time-tested methods of voter intimidation.” (NBC News / Associated Press /