Trump demands 1% interest rates after Fed hike

44 min agoNext week's summit between Donald Trump and Xi Jinping will center on artificial intelligence, where both superpowers see economic and military advantage. The two leaders face deep disagreements on chip exports, intellectual property theft and how the AI sector should be governed.

1 h agoThe House of Representatives approved legislation imposing broad sanctions on Russian officials and key sectors of the Russian economy, including oil exports. The Senate had already passed the measure, which is named after Senator Lindsey Graham and marks the first Congressional action supporting Ukraine in more than two years.

2 h agoUS President Donald Trump called on Wednesday for interest rates to fall to 1 percent or lower, saying the United States is the best credit in the world. The demand came after the Federal Reserve raised rates to combat persistent inflation, with Trump telling reporters he had spoken to Fed chief Kevin Warsh about the decision.

4 h agoThe Federal Reserve raised interest rates by 0.25 percentage points to a range of 3.75% to 4% annually, its first increase since 2023, as Chair Kevin Warsh cited persistent inflation. President Donald Trump responded by demanding the central bank cut rates to 1% or less.

6 h agoThe Federal Reserve raised its benchmark overnight interest rate by 25 basis points to the 3.75%-4.00% range on Wednesday, the first increase in three years. The unanimous decision under new Fed chief Kevin Warsh came as the central bank sought to address persistent inflation, despite pressure from President Donald Trump for lower borrowing costs.

7 h agoThe Federal Reserve raised its benchmark interest rate by a quarter point to a new range of 3.75 to 4.00 percent, the first increase since 2023. Fed Chair Kevin Warsh cited persistent high inflation as the reason for the move.

8 h agoFrench finance minister Roland Lescure said Wednesday that calls to slow artificial intelligence development benefit leaders already at the top of the sector in the United States. Lescure said France and Europe must accelerate their own AI work to manage risks.

10 h agoThe Trump administration is preparing to supply Israel with 40,000 heavy 2,000-pound munitions as part of a $2.8 billion arms agreement. The weapons were previously held back by the Biden administration over concerns about civilian casualties in Gaza. Congressional committees have already been notified of the pending deal.

11 h agoA tribunal in The Hague has sentenced Hashim Thaci, 58, the former president of Kosovo, to 25 years in prison for war crimes committed during the country's independence war in the late 1990s. The European-backed Kosovo Specialist Chambers convicted Thaci and three other former senior commanders of the Kosovo Liberation Army of 96 murders, torture, cruel treatment and arbitrary detention.

12 h agoA bombed-out apartment building collapsed in Gaza City overnight, killing at least 20 people including children and trapping dozens beneath the rubble. Search and rescue operations continued on Wednesday, though Israeli restrictions on heavy machinery in the territory have hampered efforts to find survivors.