NPR News: 07-29-2026 5PM EDT
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What is the main topic discussed in this episode?
Live from NPR News in Washington, I'm Ryland Barton.
What were the market reactions after the Federal Reserve left interest rates steady?
Stocks dropped today after a divided Federal Reserve held interest rates steady, but signaled a rate hike could be coming as inflation remained stubborn. This was the second rate-setting meeting led by Kevin Warsh, whom President Trump appointed, hoping he would lower interest rates.
My colleagues and I considered the economic shocks of recent years. Strained supply chains arising from the pandemic, military conflicts, energy supply disruptions, substantial increases in tariff rates, and yes, the surge in AI-related investment.
Meanwhile, oil prices jumped as the war with Iran continues, reinforcing expectations for a rate hike. A planned vote to advance Todd Blanche's nomination for attorney general appears to be in doubt. Texas Republican Senator John Cornyn called off a scheduled meeting with Blanche today. Cornyn told reporters that the Justice Department has not adequately addressed his concerns about the settlement that gave President Trump and members of his family protection from tax audits. The Trump administration is ending subsidies for Medicare drug plans. NPR's Sidney Lupkin reports some seniors will face higher premiums.
Under the Inflation Reduction Act, Medicare started capping patients' out-of-pocket drug spending at $2,000 last year. That change and others that changed how plans would pay for drugs meant insurers were on the hook for more money. At first, they didn't know how much more they'd be spending or how high to set premiums. To ease the transition for insurers, the Biden administration created temporary subsidies to stabilize premiums. The subsidies were expected to last three years, but are ending a year early at the end of 2026. Dr. Mehmet Oz, who oversees the Centers for Medicare and Medicaid, said on the social media platform X that it's because the subsidies are no longer needed. But the change means beneficiaries could be paying higher monthly premiums next year.
How did Fed leaders explain inflation and recent economic shocks like AI investment and supply disruptions?
Sydney Lepkin, NPR News.
Iraqi militias hit by U.S. and Saudi airstrikes today have vowed revenge. They've given the Iraqi government a deadline to respond to the attacks. NPR's Jane O'Raff has more.
The wave of strikes killed at least 20 fighters, according to the militias. They were buried on Wednesday, mourners at a procession in Baghdad chanting death to America. These are Iranian-backed militias that emerged in a security vacuum after the U.S. invasion of Iraq two decades ago. Some are now on the Iraqi government payroll. And while the new Iraqi prime minister has pledged to the U.S. he will rein in the armed groups, no previous Iraqi leader has had much success. A militia group that calls itself the Iraqi Resistance has given the Iraqi government a deadline of next Thursday after a major Shia commemoration to respond to the attacks. Jane Araf, NPR News, Amman.
The Dow fell more than 2% today. This is NPR. Elon Musk's company XAI is suing Minnesota over the state's first-in-the-nation law that bans nudification technology on websites and apps. The lawsuit potentially provides a test for how far states can go in constitutionally regulating the use of AI. It says Minnesota's law is overly broad and bans many constitutionally protected images and videos. China is opposing a Federal Communications Commission's ban on foreign-made robots over national security risks. NPR's Jennifer Pack reports Beijing says the U.S. is trying to suppress its companies.
The FCC said it would ban new imports of advanced robotics, including foreign-made humanoid robots and robot dogs. While the directive doesn't single out China, China just so happens to make more humanoid robots than the U.S. China's foreign ministry says the U.S.
Why is Todd Blanche's attorney general nomination facing uncertainty and what did Senator Cornyn cite?
is overstretching the concept of national security and that protectionism does not make the U.S. more competitive. This ban does not apply to existing models previously authorized for sale or import into the U.S., Last week, the U.S. blacklisted dozens of China's research institutions to prevent unauthorized tech transfer.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–0:04
2
What were the market reactions after the Federal Reserve left interest rates steady?
0:04–1:56
3
How did Fed leaders explain inflation and recent economic shocks like AI investment and supply disruptions?
1:56–3:51
4
Why is Todd Blanche's attorney general nomination facing uncertainty and what did Senator Cornyn cite?
3:51–5:04