Morning Wire Evening Wire: Senate Mulls DHS Nominee & Tesla’s Michigan Plant | 3.18.26
27 snips
Mar 18, 2026 Fiery confirmation hearing sparks tense exchanges over past remarks and department funding. Geopolitics heats up after strikes on South Pars and new Iran assessments. The Fed holds rates amid oil and uncertainty. A major automaker and LG convert a Michigan plant for LFP batteries. Tech export deals resume and big shifts loom for postal shipping and political ad warfare.
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Mullin Confronted Over Comments And DHS Role
- Markwayne Mullin faced intense Senate scrutiny over past comments and characterizations during his DHS confirmation hearing.
- Senators including Rand Paul and Josh Hawley pressed Mullin to retract calling a shooting victim "deranged" and to explain how DHS functions amid a shutdown.
Gabbard Says Iran Degraded But Intact
- Tulsi Gabbard told senators the intelligence community assesses Iran's regime remains intact but significantly degraded after recent strikes.
- She declined to discuss internal briefings about possible Iranian retaliation like closing the Strait of Hormuz.
Fed Holds Rates Amid Iran Risks And Rising Oil
- The Federal Reserve held interest rates at 3.5–3.75% citing unpredictable economic impacts from the Iran conflict and rising oil prices.
- Officials are split on future cuts as surging energy costs and sluggish growth raise stagflation concerns.