Fed committee votes unanimously to raise interest rate by a quarter-percentage point to a range of 3.75% to 4% The US Federal Reserve voted to raise interest rates on Wednesday for the first time since 2023 as the central bank continues to fight to tamp down inflation. The Fed’s open market committee voted unanimously to raise its benchmark interest rate by a quarter-percentage point to a range of 3.75% to 4%. This…
The Fed increased its benchmark rate by 0.25 percentage points to battle resurgent inflation driven by soaring energy prices.
The Fed increased its benchmark rate by 0.25 percentage points to battle resurgent inflation driven by soaring energy prices.
NYTimes – US President Donald Trump criticized U.S. Supreme Court Justices after the court blocked the Postal Service from enforcing new mail voting rules ahead of the midterm elections. The administration said it will comply with the ruling. Trump had sought to limit mail-in voting for November's midterms.
The Trump-appointed board of the Kennedy Center voted Tuesday to immediately close the performing arts institution, citing safety and financial concerns. The vote came after a federal judge again blocked the board from adding President Trump's name to the building's facade, ruling the change requires Congressional approval. The closure is expected to be indefinite.
NYTimes – US The nonpartisan Congressional Budget Office reports the U.S. war with Iran has cost about $38 billion from Feb. 28 to Aug. 1, with ongoing spending of roughly $2 billion to $3 billion per month depending on fighting intensity. The analysis was limited because the Defense Department did not respond to requests for cost information.
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