Fed warns of stagflation, Trump's ambassador to China sworn in

What to Know

• Former Sen. David Perdue, R-Ga., was sworn in as Trump's ambassador to China as the administration prepares to meet with Chinese officials on trade and economic matters.
• The Federal Reserve said it was leaving interest rates unchanged as it warned that the chances of both higher unemployment and higher inflation had climbed in the wake of Trump's tariffs plan.
• Several of Trump's top officials, including his energy, agriculture and treasury secretaries and his FBI director, testified to Congress today at hearings on the president's budget and other priorities. 
• The U.S. is planning to send a group of undocumented immigrants to Libya as early as this week, two U.S. officials with knowledge of the flight told NBC News.
• In a wide-ranging interview with BBC radio, former President Joe Biden called Trump's dealings with Russian President Vladimir Putin on the war in Ukraine "modern-day appeasement" and defended his record on the U.S. economy.