Live from MPR News in Washington, I'm Jail Snyder.

President Biden has signed the bipartisan legislation that suspends the debt ceiling

for two years and a verdicts a government default.

Biden signed the bill without fanfare at the White House yesterday.

The deal the president worked out with House Speaker Kevin McCarthy reigns in spending.

An empirician of forlund says it includes work requirements for some Americans on food

assistance.

The age of people who are subject to work requirements under this program known as SNAP is going

to go up from 49 to 54.

And we're talking able-bodied adults with no dependence, which by the way are a small

share of the 42 million people who get food assistance.

But these older adults will now have to spend 20 hours a week working or in job training.

The new law also calls MacIRS funding and formally ends the pause on a federal student loan

payments in August.

As a federal reserve approaches its mid-June monetary policy meeting hope is growing that

the central bank will refrain from raising interest rates again.

The state back-and-forth says the Fed's divided federal open market committee will have a

difficult choice to make.

The Fed has raised the federal funds rate five percentage points since it stopped holding

that key short term rate near zero last March to reduce inflation by slowing spending.

Some such as Cleveland Federal Reserve Bank President Loretta Mester say rates should

go higher.

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