Today in one sentence: Israel and Hamas agreed to a 42-day ceasefire; a recap of today’s Trump’s Cabinet confirmation hearings; Senator Joni Ernst announced her support for Pete Hegseth’s nomination as defense secretary; inflation rose to 2.9% in December, driven by higher gas and egg prices, while core inflation, excluding volatile food and energy costs, declined to 3.2%; Biden will deliver his last Oval Office address to the nation at 8 p.m. ET Wednesday, reflecting on his political career that spanned over 50 years and the accomplishments of his presidency; Biden’s approval rating stands at 36%; 44% of Americans view Trump favorably; and about 2 in 10 Americans are highly confident that the Justice Department and FBI will act fairly during Trump’s second term.

1/ Israel and Hamas agreed to a 42-day ceasefire. The deal temporarily pauses the 15-months of fighting in the Gaza Strip, where Israeli forces have killed at least 46,500 Palestinians – mostly civilians – in response to the Hamas-led October 7 terror attack, which left around 1,200 dead and some 250 people taken hostage. Over 110,200 people have been injured in Gaza during this period. The deal will take effect on Sunday and will be implemented in phases. In the first phase, 33 hostages held by Hamas will be exchanged for approximately 1,000 Palestinian prisoners held by Israel. During this phase, Israel will reduce its military presence in Gaza and allow Palestinians to return to the north, despite extensive destruction in the area. In the second phase, the remaining living hostages will be exchanged, accompanied by a full withdrawal of Israeli forces from Gaza. Israel estimates that about 60 living hostages remain in Gaza. The third phase will involve the return of deceased hostages’ remains and a “major reconstruction plan for Gaza will begin.” In recent days Trump’s incoming Middle East envoy, Steve Witkoff, “work[ed] in tandem” with Biden’s Middle East adviser, Brett McGurk, on the negotiations, which were mediated by the U.S., Qatar and Egypt. Witkoff reportedly met with Israeli Prime Minister Benjamin Netanyahu on Saturday to stress Trump’s goal of wanted a deal by Jan. 20. Trump previously warned that there would be “hell to pay” if an agreement wasn’t reached before his inauguration. Netanyahu, meanwhile, thanked Trump for what he described as promises that “Gaza will never be a haven for terror.” (NBC News / NPR / ABC News / New York Times / Washington Post / Bloomberg / Wall Street Journal / CNN / Associated Press / Axios / CNBC)

2/ Recap of today’s Trump’s Cabinet confirmation hearings: Pam Bondi, nominated for attorney general, vowed to “depoliticize” the Justice Department but faced criticism for refusing to commit to prosecutorial independence from Trump, including whether she would prosecute journalists or drop cases at Trump’s request. Bondi stated, “No one is above the law,” and denied any plans to enforce a so-called “enemies list.” Bondi repeatedly declined to answer whether she would open an investigation into special counsel Jack Smith, calling his conduct “horrible.” She also sidestepped questions about upholding a TikTok ban and pardoning Jan. 6 defendants, saying decisions would be made on a “case-by-case basis.” Marco Rubio, the nominee for Secretary of State, supported NATO, called China a “dangerous near-peer adversary,” and endorsed Taiwan’s “porcupine strategy” to deter invasion. Rubio aligned with Trump’s “America First” vision, stating, “Placing our core national interests above all else is not isolationism. It is the commonsense realization that a foreign policy centered on our national interest is not some outdated relic.” Other nominees included Chris Wright for energy secretary, who pledged to implement Trump’s fossil fuel expansion plan, calling it a “bold energy agenda,” despite environmental concerns, and Russell Vought for budget director, who signaled plans for significant spending cuts. (Associated Press / Politico / Washington Post / NBC News / ABC News / CNN)

3/ Senator Joni Ernst announced her support for Pete Hegseth’s nomination as defense secretary, increasing his chances of Senate confirmation despite allegations of sexual assault and concerns about his record. Ernst, initially skeptical of Hegseth’s candidacy due to allegations of sexual assault and mismanagement, cited private assurances and his commitments to Pentagon audits, addressing sexual assault in the military, and ensuring opportunities for women in combat as reasons for her support. Her decision eliminates the need for unanimous Republican support and leaves only a few undecided senators as potential opposition. Senate Democrats, meanwhile, criticized the FBI’s background check on Hegseth, highlighting omissions such as not interviewing key witnesses, including an ex-wife and an accuser. Despite these concerns, no Senate Republicans have publicly opposed Hegseth, with a vote scheduled for January 20. (New York Times / NBC News / New York Times)

4/ Inflation rose to 2.9% in December, driven by higher gas and egg prices, while core inflation, excluding volatile food and energy costs, declined to 3.2% – its smallest increase in months. The mixed inflation report highlighted ongoing challenges with elevated prices for essentials, like housing and food, but showed signs of cooling in areas such as rent and clothing. Analysts noted that if core inflation continues its downward trend, the Federal Reserve might cut interest rates later this year. However, economic uncertainty surrounding Trump’s proposed tariffs and immigration policies could pressure future inflation, complicating the Fed’s decision-making. (Wall Street Journal / Bloomberg / CNBC / Washington Post / Associated Press)

5/ Biden will deliver his last Oval Office address to the nation at 8 p.m. ET Wednesday, reflecting on his political career that spanned over 50 years and the accomplishments of his presidency. It will be Biden’s fifth address from the Oval Office. In his last, he explained his decision not to run for reelection. The speech is expected to highlight his key domestic achievements, such as creating 16.6 million new jobs, reducing prescription drug costs, and passing significant infrastructure and climate legislation. In a farewell letter previewing his primetime remarks, Biden wrote that it had been “the privilege of my life to serve this nation for over 50 years.” Biden said the country is “stronger, more prosperous and more secure” than it was four years ago, noting how his efforts to guide the nation out of the COVID pandemic and stabilize the economy, which he described as “the worst economic crisis since the Great Depression,” are central to his legacy. On foreign policy, Biden emphasized in his letter his administration’s success in rebuilding alliances, supporting Ukraine against Russia, and countering adversaries like Iran. He defended the withdrawal from Afghanistan while noting its costs. Looking ahead, Biden has pledged to remain engaged in public life, emphasizing that he would not be “out of sight or out of mind.” (CBS News / New York Times / NBC News / ABC News)

  • Biden’s Presidential Legacy: Guided the nation through the COVID-19 pandemic; initiated the largest infrastructure investment since Eisenhower; implemented historic climate policies; vaccinated over 250 million Americans; reduced unemployment significantly; passed a $1 trillion infrastructure package to modernize roads, bridges, and broadband; allocated $370 billion to clean energy; rejoined the Paris Climate Agreement; protected millions of acres of land; capped insulin prices at $35 per month; expanded benefits for veterans exposed to burn pits; strengthened NATO; supported Ukraine against Russian aggression; and balanced significant progress with unresolved challenges like inflation, immigration, and concerns over his age in a politically divided era. (New York Times)
  • Exit Interview: Jill Biden reflected on her tenure as first lady, balancing family crises, political challenges, and her efforts to support Joe Biden’s presidency and legacy. Despite personal and political disappointments, Jill Biden emphasized resilience, loyalty, and her hope for a positive future. “I hope that women see me as a reflection of themselves,” she stated, highlighting her roles as a working woman and educator. Jill remained focused on family unity, navigating the complexities of political life, and supporting Kamala Harris’s campaign following Biden’s decision not to seek reelection. She also expressed disappointment over Nancy Pelosi’s actions during Biden’s final months in office, reflecting Pelosi’s suggestion that Biden step aside in the 2024 presidential race. “We were friends for 50 years,” Jill Biden said. “It was disappointing.” At the time, Pelosi publicly questioned Biden’s viability after his shaky debate performance, stating, “It’s up to the president to decide if he is going to run,” despite Biden repeatedly declaring he would remain in the race. “Let’s just say I was disappointed with how it unfolded,” Jill Biden said. “I learned a lot about human nature.” (Washington Post)

poll/ Biden’s approval rating stands at 36% – matching the lowest of his term. 61% of Americans believe Biden’s presidency was a failure, with 38% calling it a success. His ratings on key issues such as immigration, foreign affairs, and the economy also remain low, with the highest approval — 46% — on protecting democracy. Biden’s favorability is at 33%, close to his lowest as vice president, and public perceptions of the country’s economic conditions and overall direction remained negative throughout his term. Among Democrats, his approval is at 71%, but younger party members were more critical, with 51% saying he didn’t go far enough in using presidential power. (CNN)

poll/ 44% of Americans view Trump favorably, while 49% view him unfavorably. 62% oppose pardoning those convicted in the Jan. 6 Capitol attack; 44% expect their personal finances to improve under Trump; and 48% believe Trump’s tariffs will hurt the economy compared to 31% who think they will help. (NPR)

poll/ About 2 in 10 Americans are highly confident that the Justice Department and FBI will act fairly during Trump’s second term. Half of respondents expressed low confidence in the agencies, while one-third were somewhat confident. Among Republicans, 25% were highly confident in the fairness of the DOJ and FBI, and one-third were not confident at all. (Associated Press)

Four years ago today: Day 1457: "Justice is coming."
Five years ago today: Day 1091: Con job.
Six years ago today: Day 726: Everyone's favorite.