Warsh Declines Comment on Any Discussion With President Trump

Summary

The episode covers the Fed's first rate hike in over three years, with Chair Kevin Warsh raising rates by a quarter point and signaling more may come. White House CEA Chairman Chris Phelan calls the hike a mistake and argues inflation is falling. Congressmen Mike Lawler and Josh Gottheimer discuss rates, the proposed $5,000 dividend checks, and AI regulation. Bloomberg also reports on the costs of the U.S. naval blockade on Iran, and a political panel debates inflation, fuel prices, and the midterms.

• Fed raises rates by 25 basis points, signals possible further hikes.
• Kevin Warsh faces questions on independence and inflation outlook.
• White House CEA chairman says the Fed hike was a mistake as inflation cools.
• Lawler and Gottheimer discuss rate impact, $5,000 dividend checks, and AI rules.
• Bloomberg reports the naval blockade on Iran costs over $30 million daily.
• Political panel debates inflation, diesel and gas prices, and election messaging.
• House considers Russia sanctions bill and expanded tariff authority.