NPR News: 07-29-2026 8PM 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 did the Federal Reserve decide about interest rates and why?
The Federal Reserve held its benchmark interest rate steady today, as most investors had expected. NPR's Scott Horsley reports the central bank left the door open to raise rates in the future if inflation remains elevated.
This was the second rate-setting meeting led by Kevin Warsh, who took over as chairman of the central bank in May.
How is Chairman Kevin Warsh framing the Fed's fight against inflation?
Warsh told lawmakers this month he and his colleagues are determined to restore price stability after five years of uncomfortably high inflation. That task has been made harder by the U.S. war with Iran, which has triggered a spike in energy prices.
Why could rising energy prices from the war with Iran affect inflation and gas costs?
Gasoline prices have moderated from their wartime peak this spring, but renewed fighting around the Strait of Hormuz could keep pump prices elevated for months to come. Three members of the Fed's rate-setting committee dissented from today's decision, saying they would have preferred to raise the benchmark rate by a quarter percentage point. Scott Horsley, NPR News, Washington.
Dr. Anthony Fauci will face a contempt of Congress vote in a Senate committee next week after he invoked the Fifth Amendment in a hearing about his handling of the COVID-19 pandemic and the origins of it.
What led to a contempt vote threat for Dr. Anthony Fauci after the Senate hearing?
Kentucky Senator Rand Paul led the charge to have the now-retired infectious disease expert testify. Fauci declined to answer dozens of questions from senators.
Any reasonable person who has followed his unhinged obsession with me would readily come to the same conclusion. Therefore, although it pains me to do so because of the respect I have for the legislative branch of government, and my decades-long record of cooperating with Congress Under the advice of my attorneys, I will invoke my right under the Fifth Amendment of the Constitution to refrain from answering your questions.
What is the Federal Trade Commission investigating about Shein's U.S. operations?
Thank you.
Paul told CBS News he believes Fauci could be prosecuted for not answering questions during the hearing. Chinese-founded Xi'an, the massive fast-fashion online retailer, says its U.S. operations are under the investigation of the Federal Trade Commission. NPR's Alina Seljuk reports the disclosure came as part of Sheehan's application to list its shares publicly on the Hong Kong Stock Exchange.
Sheehan over the years has faced numerous inquiries in the U.S. and in Europe, often focused on its supply chain and workplace conditions. Last year, for example, Sheehan told British lawmakers that it had found two cases of child labor at its factories. At the time, Shein was aiming to list its shares in London, which did not work out. Shein also had tried and failed to do an IPO in New York.
Which major cultural and sports stories are covered next, including Jared Leto and the new women's pro baseball league?
Now it's going for Hong Kong, and its financial disclosures had to report the new investigation by the U.S. Federal Trade Commission. The FTC confirmed the probe to NPR, but its focus and timing are unclear. Shein says the result could mean significant fines. Alina Seluk, NPR News.
Oil prices jumped again and the Fed's decision to keep interest rates steady sent stocks sliding. This is NPR News. FIFA President Gianni Infantino has set a September 19th deadline for its 211 federations to accept $20 million each as part of his plan to sell stakes in a subsidiary running the World Cup. An investment firm run by President Trump's son-in-law, Jared Kushner's brother, is underwriting the plan. Infantino is an ally of Trump's. The European soccer body opposes the deal. Jared Leto says he has, quote, never assaulted anyone. That's in response to a BBC documentary in which multiple women accused the actor and musician of doing so. NPR's Chloe Veltman reports.
In the documentary Jared Leto, Hollywood's Dark Secret, four women accuse the 54-year-old of sexual assault or misconduct. One woman says the actor assaulted her when she was 17. Another accuses him of statutory rape. The women, whose full names aren't used in the documentary, say these incidents occurred between 2002 and 2016. Leto has been the subject of numerous misconduct allegations over the years, but none of these have led to an arrest or criminal charges.
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Chapters
7 chapters
1
What is the main topic discussed in this episode?
0:00–0:03
2
What did the Federal Reserve decide about interest rates and why?
0:03–0:21
3
How is Chairman Kevin Warsh framing the Fed's fight against inflation?
0:21–0:34
4
Why could rising energy prices from the war with Iran affect inflation and gas costs?
0:34–1:04
5
What led to a contempt vote threat for Dr. Anthony Fauci after the Senate hearing?
1:04–1:50
6
What is the Federal Trade Commission investigating about Shein's U.S. operations?
1:50–2:36
7
Which major cultural and sports stories are covered next, including Jared Leto and the new women's pro baseball league?
2:36–5:03