Senate votes to advance Ukraine aid despite GOP opposition

The U.S. Senate voted on Monday to advance $40 billion more aid for Ukraine in its war against Russia, setting the stage for a vote on the bill this week after the military and humanitarian aid was delayed due to opposition from one Republican senator. The tally was 81 to 11 on the first of a potential three procedural votes paving the way for final Senate passage of the funding, requested by President Joe Biden's administration to keep aid flowing and boost the government in Kyiv nearly three months after the start of the Russian invasion.

GET THE LATEST DEVELOPMENTS ON THE UKRAINIAN WAR

Gas prices reach another record high at $4.48 per gallon 

Gas prices hit another record high Monday for the fourth week in a row, with the national average reaching $4.48 per gallon, according to AAA. The national average gallon of gas price was 40 cents more than a month ago, and $1.43 more than a year ago. Only three states (Georgia, Kansas and Oklahoma) have gas prices below $4 per gallon, while California and Hawaii own the highest prices at $5.98 and $5.31 per gallon, respectively.

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Impact of inflation largely depends on your economic class

Year-over-year inflation rates have exceeded 8% for the past three months, and the Fed promised to act aggressively by raising interest rates. That might have worked back in the early 1980s, but present-day inflation is “lack of supply” driven and impact economic classes differently. Will raising rates will have any effect on the current components of inflation other than tamping down “asset price” inflation in housing and stock market investments?

SEE HOW SUPPLY-DRIVEN INFLATION AFFECTS CLASSES