1/ The EPA proposed tougher tailpipe emissions limits that could require up to 67% of new vehicles sold in the U.S. to be all-electric by 2032 – the nation’s most ambitious climate regulations to date. The new rules are expected to eliminate 7.3 billion tons of CO2 through 2055 – the equivalent of eliminating all greenhouse gas emissions from the entire U.S. transportation sector for four years. The limits would also surpass Biden’s previous commitment to have EVs make up roughly 50% of cars sold by 2030. Last year, EVs accounted for 5.8% of the 13.8 million new vehicles sold in the U.S. The White House has also set aside $7.5 billion to expand the EV charging network – as part of the 2021 $1 trillion bipartisan infrastructure bill. And, the 2022 Inflation Reduction Act will provide tax credits up to $7,500 for car buyers to incentive EV adoption and affordability. The U.S. is the world’s third-largest market for EVs behind China and Europe. (New York Times / Wall Street Journal / CNBC / NPR)

2/ The Federal Reserve projects the nation’s economy to fall into a “mild recession” by year’s end, according to minutes from the Fed’s March meeting minutes. Central bank officials scaled back their economic expectations for future rate hikes this year due in part to the string of bank failures and instability in the banking sector. Although Fed officials considered skipping a rate increase at their March meeting, they raised their benchmark lending rate a quarter point to a range of 4.75% to 5%. (Wall Street Journal / Bloomberg / Forbes / CNBC)

3/ U.S. inflation fell to its lowest level in nearly two years. The consumer price index rose 0.1% from February to March, and 5% from a year ago. Despite the lower prices, inflation is still running more than two-and-a-half times the Fed’s target of 2% and the central bank is on track to raise interest rates at least once more before what they say will be an extended pause to let their work filter through the economy. Economists expect that the federal funds rate to settle around 5.25% and stay there through 2023. The central bank will announce its next policy decision on May 3. (Bloomberg / New York Times / Washington Post / Wall Street Journal /