Bidens under a microscope

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Republican lawmakers are pressing forward in an effort to open an impeachment investigation into President Joe Biden. The Fed indicated its campaign of interest rate hikes is over. And gas prices are dropping all around the country.

👋 Hey! Laura Davis here. Wednesday’s news is comin’ in hot.

But first: Shocking family secrets. 😱 Ancestry, 23&Me and when DNA test kits aren't fun anymore.

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Democrats cry foul as GOP preps for impeachment inquiry

House Republicans are gearing up to formally authorize their impeachment inquiry into President Joe Biden. But House Democrats are crying foul, arguing their GOP colleagues have decided impeaching the president is inevitable.

  • What's behind the impeachment inquiry? Republicans accuse Biden of financially benefiting from his family’s foreign business dealings, but they have yet to produce evidence directly implicating the president. They say GOP investigators are continuing their inquiry against Biden as a fact-finding mission. 👉 Here's what we know.

  • 'I have made mistakes': Defiant Hunter Biden lashes out at GOP and ignores subpoena.

Hunter Biden, the son of President Joe Biden, speaks to the media outside the Capitol offering to publicly testify at House Republicans' request on Dec. 13, 2023 in Washington, D.C.
Hunter Biden, the son of President Joe Biden, speaks to the media outside the Capitol offering to publicly testify at House Republicans' request on Dec. 13, 2023 in Washington, D.C.

Netanyahu vows to press ahead 'until victory'

As combat in Gaza escalates and international outrage swells over Israel's military campaign, the country's leader vows to continue the war despite the pressure. Biden said Tuesday that "indiscriminate bombing" is causing Israel to lose international support, his sharpest criticism of Israel to date. The same day, the U.N. General Assembly voted 153- 10 in favor of a humanitarian cease-fire; the U.S. and Israel opposed the measure. Despite the first signs of discord with its main supporter, Israeli Prime Minister Benjamin Netanyahu pledged Wednesday to persist in an offensive that has killed more than 18,000 Palestinians, the Gaza health ministry says, and left parts of Gaza in ruins. 👉 Follow our live coverage.

A Palestinian drags bricks at a camp for displaced people in Rafah, in the southern Gaza Strip where most civilians have taken refuge, on Dec. 13, 2023.
A Palestinian drags bricks at a camp for displaced people in Rafah, in the southern Gaza Strip where most civilians have taken refuge, on Dec. 13, 2023.

Real quick

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Fed holds rates steady

The Federal Reserve left its key short-term interest rate unchanged again Wednesday, hinted that rate hikes are likely over and forecast three cuts next year amid falling inflation and a cooling economy. That’s more rate cuts than many economists expected. The decision leaves the Fed’s benchmark short-term rate at a 22-year high of 5.25% to 5.5% after a flurry of increases aimed at subduing the nation’s sharpest inflation spike in four decades. 💰 Here's what it could mean for your wallet.

Gas prices hit a low point

It's not your imagination: Gas prices are dropping. The national average price for a gallon of gas is down as Tuesday's national average hit $3.137, according to AAA. That's 9 cents lower than last week's average, which makes this week's price the lowest all year. The decline comes as the cost for oil struggles to remain above $70 a barrel, AAA said last week. About the same time, OPEC+ announced voluntary production cuts for about 2 million barrels a day. ⛽️ Will the downward trend continue? Here's what to know.

A break from the news

Laura L. Davis is an Audience Editor at USA TODAY. Say hello: laura@usatoday.com. This is a compilation of stories from across the USA TODAY Network. Support quality journalism like this? Subscribe to USA TODAY here.

This article originally appeared on USA TODAY: Biden impeachment inquiry, federal interest rates, gas prices: Wednesday's news