John Bickley

The Senate Small Business Committee held a hearing today on governmental waste and fraud, and Daily Wire investigative reporter Luke Rosiak testified.

Rosiak has spent over a decade reporting on the Small Business Administration's 8A program and has uncovered numerous schemes ranging from pass-through fraud to a $550 million bribery operation.

Here's Rosiak in his opening statement.

Lawmakers say abuse of the program exploded under the Biden administration.

Now Treasury Secretary Scott Besant and SBA Chief Kelly Loeffler are investigating what some watchdogs warn could be a $100 billion scandal.

Committee Chair Joni Ernst says the goal is simple.

Stop no-bid fraud, shrink the bureaucracy, and protect taxpayers.

Speaking of Jerome Powell, the Federal Reserve has approved its third interest rate cut of the year, lowering the benchmark rate by another quarter point.

Fed leaders say they're trying to steady a cooling job market, even as inflation remains stubbornly elevated.

The vote wasn't unanimous.

Two regional Fed presidents pushed to hold rates steady, while one governor called for a deeper cut.

Powell said the Fed is navigating a difficult balance, with inflation risks still tilted upward and employment showing signs of strain.

Conditions in the labor market appear to be gradually cooling, and inflation remains somewhat elevated.

There's no risk-free path, and I think we're doing the best we can for people.

Authorities have identified the shooter as a 48-year-old black man.

The suspect has been arrested on charges of first-degree assault and murder.

Police have yet to reveal a motive for the shooting, and one surviving victim remains in critical condition.

Police were called to campus on Tuesday afternoon just after 3 p.m.

to reports of shots fired.

Authorities now say there are no more active safety threats on campus.