Coverage in Washington
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Fed holds rates steady as inflation pressures persist
The central bank kept its benchmark rate at 3.5% to 3.75%, but an 8-4 vote showed rare internal division over how to frame possible future cuts
State Department rebukes Wendy Sherman after Trump Iran criticism
The former Obama Iran negotiator said Trump lacks a strategy; a department spokesperson answered that she has “no credibility” on Tehran
Core inflation rose to 3.2% in March as GDP missed forecasts
The Fed’s preferred inflation gauge accelerated while first-quarter growth came in at 2%, complicating the central bank’s next move after it held rates steady
Warsh’s Fed chair nomination advances to full Senate
The Senate Banking Committee backed President Trump’s pick on a 13-11 party-line vote, setting up a confirmation fight as Jerome Powell’s term as chair nears its end
Prosecutors say Trump dinner suspect took armed selfie before attack
A new detention memo says Cole Tomas Allen posed in his Washington Hilton room about 30 minutes before allegedly rushing a security checkpoint near the president
Warsh Signals Limits on Fed Independence in Swap-Line Questions
The Fed chair nominee told Senate Democrats that the central bank’s special deference is strongest in monetary policy, not necessarily in international finance