CNBC:

U.S. stocks fell sharply Friday after the Federal Reserve’s preferred inflation gauge showed a stronger-than-expected increase in prices last month.

The Dow Jones Industrial Average fell by 461 points, or 1.4%. The S&P 500 and Nasdaq Composite slid 1.6% and 1.9%, respectively.

The core personal consumption expenditures price index, the Fed’s preferred measurement of inflation, rose 0.6% in January and 4.7% from the prior year, coming above economists’ expectations.

The report added to worries that the Fed may have to keep rates higher for longer to quell inflationary pressures.

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The Guardian:

Georgia, a state once known for its peaches and peanuts, is rapidly becoming a crucible of clean energy technology in the US, leading a pack of Republican-led states enjoying a boom in renewables investment that has been accelerated by Joe Biden’s climate agenda.

Barry Loudermilk, a Republican congressman whose House of Representatives district includes Cartersville, denied that the rush of investment is politically awkward for the GOP, accusing Biden of an “elementary school-level response” to the issue in his state of the union speech.

“I’m not against this industry and I’m all about bringing in new technology, but it has to be market-driven,” Loudermilk told the Guardian. “When the government heavily subsidizes something it will crest and then fall down because the market hasn’t matured.

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Politico: 

The Administration Committee, which holds power over congressional and electoral operations, is used to taking a backseat to more headline-grabbing panels of the House like Judiciary or Oversight. Members often half-joke that the committee is chiefly focused on the House gym, office assignments or mice infestations.

Rep. Barry Loudermilk (R-Ga.) — looked at by the Democratic-run select committee because of a Capitol complex tour he gave on Jan. 5, 2021 — said in an interview that conversations are already underway about investigating security decisions during the next day’s riot.

“I think that is something that we do need to work on,” Loudermilk said.

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Bitcoin:

U.S. Congressman Tom Emmer (R-MN) announced Tuesday that he has introduced the Central Bank Digital Currency (CBDC) Anti-Surveillance State Act in the House of Representatives. The recently elected House Majority Whip tweeted:

Emmer elaborated in a follow-up tweet that the bill “does three things” by amending the Federal Reserve Act. Firstly, it “prohibits the Fed from issuing a CBDC directly to anyone,” the lawmaker wrote. Secondly, it “bars the Fed from using a CBDC to implement monetary policy and control the economy,” and thirdly, it “requires the Fed’s CBDC projects to be transparent to Congress and the American people.”

“Proud to join forces with @GOPMajorityWhip on legis to keep the Fed from issuing a central bank digital currency. The Fed should be focused on its core mission of stable prices and max employment, not tracking our transactions indefinitely,” Rep. Loudermilk tweeted in support of the bill on Wednesday.

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