Victoria Craig

Despite President Trump's demands, the Fed keeps rates steady and warns of increased economic uncertainty. Plus, Mickey Mouse heads to the Middle East as Disney plans a new theme park in the capital of the United Arab Emirates.

Despite President Trump's demands, the Fed keeps rates steady and warns of increased economic uncertainty. Plus, Mickey Mouse heads to the Middle East as Disney plans a new theme park in the capital of the United Arab Emirates.

And what U.S. spy agencies are up to in Greenland. It's Wednesday, May 7th. I'm Victoria Craig for The Wall Street Journal, filling in for Alex Osola. This is the PM edition of What's News, the top headlines and business stories that move the world today. The Federal Reserve has voted unanimously to keep its benchmark interest rate in the 4.25 to 4.5 percent range for the third straight month.

And what U.S. spy agencies are up to in Greenland. It's Wednesday, May 7th. I'm Victoria Craig for The Wall Street Journal, filling in for Alex Osola. This is the PM edition of What's News, the top headlines and business stories that move the world today. The Federal Reserve has voted unanimously to keep its benchmark interest rate in the 4.25 to 4.5 percent range for the third straight month.

It's the Fed's first rate decision since President Trump imposed a sweeping tariff package in April, much of which was later reversed. At a press conference following today's decision, Fed Chair Jerome Powell responded to a question from The Wall Street Journal saying tariffs presented continuing uncertainty.

It's the Fed's first rate decision since President Trump imposed a sweeping tariff package in April, much of which was later reversed. At a press conference following today's decision, Fed Chair Jerome Powell responded to a question from The Wall Street Journal saying tariffs presented continuing uncertainty.

For more, I'm joined by The Wall Street Journal's chief economics commentator, Greg Ip. Greg, we talk a lot about the impact of President Trump's tariff policy. How are these new levies affecting the economy and the Fed's reaction to it?

For more, I'm joined by The Wall Street Journal's chief economics commentator, Greg Ip. Greg, we talk a lot about the impact of President Trump's tariff policy. How are these new levies affecting the economy and the Fed's reaction to it?

And the Fed has been extremely cautious with its language about tariffs. But what information does it need for the next interest rate decisions over the next couple of months? And when might we see rates move?

And the Fed has been extremely cautious with its language about tariffs. But what information does it need for the next interest rate decisions over the next couple of months? And when might we see rates move?

Wall Street Journal Chief Economics Commentator Greg Ip, thank you so much.

Wall Street Journal Chief Economics Commentator Greg Ip, thank you so much.

Tariffs aren't just making the Fed's job more complicated. According to new modeling from the Consumer Technology Association, they could also push prices for video game consoles up nearly 70 percent. That's if they aren't covered by an exemption to the tariffs.

Tariffs aren't just making the Fed's job more complicated. According to new modeling from the Consumer Technology Association, they could also push prices for video game consoles up nearly 70 percent. That's if they aren't covered by an exemption to the tariffs.

The industry group sees prices for smartphones, laptops, and other widely used devices rising 30 percent, with the assumption that the administration lands on a 25 percent tariff for those products. U.S. stocks closed higher today after the Fed's decision to hold steady. The Dow ended the session up 0.7%, boosted by Disney, the index's best performer.

The industry group sees prices for smartphones, laptops, and other widely used devices rising 30 percent, with the assumption that the administration lands on a 25 percent tariff for those products. U.S. stocks closed higher today after the Fed's decision to hold steady. The Dow ended the session up 0.7%, boosted by Disney, the index's best performer.

Shares soared nearly 11% on its earnings results. More on that later. The S&P 500 rose 0.4%, while the Nasdaq gained 0.25%. We exclusively report that U.S. intelligence agencies are stepping up their activity in Greenland. That's according to people familiar with the effort.

Shares soared nearly 11% on its earnings results. More on that later. The S&P 500 rose 0.4%, while the Nasdaq gained 0.25%. We exclusively report that U.S. intelligence agencies are stepping up their activity in Greenland. That's according to people familiar with the effort.

The directive is one of the first concrete steps the Trump administration has taken toward fulfilling the president's often-stated desire to acquire Greenland. Catherine Long is a reporter on the journal's investigations team, and she joins me now. Catherine, what kind of information are these agencies looking together?

The directive is one of the first concrete steps the Trump administration has taken toward fulfilling the president's often-stated desire to acquire Greenland. Catherine Long is a reporter on the journal's investigations team, and she joins me now. Catherine, what kind of information are these agencies looking together?