NPR News: 09-17-2026 12AM EDT
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Why did President Trump criticize the Fed’s recent interest‑rate hike?
Live from NPR News, I'm Giles Snyder. On his way to a midterm campaign event in North Carolina, President Trump expressed confidence in Federal Reserve Chair Kevin Warsh, but was critical of the central bank's decision Wednesday to raise its benchmark interest rate by a quarter point.
I talked to Kevin and I said, you might as well vote with the board because it's not going to matter. The board is very hostile. They're very political. They're doing the wrong thing.
At a press conference after the board's decision, Warsh said inflation remains too high and has been for too long. The move will likely make it costlier to borrow for homes, autos, and other purchases, but savers should earn a bit more in interest. On social media earlier Wednesday, President Trump said rates should be 1% or less because he said the country is booming.
What is the White House’s response to the Federal Reserve’s rate increase?
NPR's Daniel Kurtzleben reports.
Speaking to Fox News, White House spokesman Kush Desai called the decision unfortunate, adding that the White House fears the higher rates will slow economic growth. Kevin Warsh took over as Fed chair in May as Jerome Powell's term as chair ended. Trump often criticized and even insulted Powell publicly, saying Powell was keeping interest rates too high. The administration also launched a criminal investigation in DePaul regarding renovations of the Federal Reserve Building. The Justice Department dropped that investigation in April. The Trump Treasury Department has attempted to lower longer-term interest rates by buying back debt, but rates have not fallen in a sustained way. Danielle Kurtzleben, NPR News.
Stocks overseas mostly higher following the Fed's decision Tuesday, rather Wednesday, to raise its benchmark interest rate, although stocks in China are declining.
How did global stock markets react to the Fed’s decision to raise rates?
Japan's benchmark Nikkei is up after climbing as much as 1% earlier in Thursday's session. The House has passed a broad package of sanctions targeting Russian officials and key sectors of the country's economy. The bill is named after the late South Carolina Republican Senator Lindsey Graham, who spent more than a year working on it. It aims to deprive Russian President Vladimir Putin of the financial resources to wage war against Ukraine and now goes to President Trump for his signature. Iran's top diplomat in Beijing, where Chinese officials say they are willing to strengthen ties with Tehran while also offering to be a mediator in the Iran war. NPR's Emily Fang reports that China has been on a diplomatic push leading up to a meeting with President Trump in Washington next week.
China's top diplomat Wang Yi says the U.S. and Iran should be, quote, rational and restrained and said the U.S. and Israeli-dominated security architecture of the Middle East was, quote, inadequate and should be reformed.
What does the new U.S. sanctions package aim to achieve against Russia?
China's leader Xi Jinping also offered for Beijing to mediate a diplomatic truce in the war earlier this month. Xi has a packed traveling schedule this month. He's made stops in Kyrgyzstan, Egypt, and India before he heads to Washington next week to meet with President Trump in an itinerary designed to showcase Beijing's broadening foreign policy reach. Emily Fang, NPR News, Washington.
This is NPR News. The Justice Department will now decide whether to prosecute billionaire investor Leon Black. The House referred Black to the DOJ, holding him in contempt of Congress after he defied House oversight subpoenas in the panel's investigation into Jeffrey Epstein. Black's lawyers have denounced the oversight panel's pursuit of Black as an abuse of congressional power. In Los Angeles, a motorist has been arrested on murder charges.
Why is the Justice Department considering charges against investor Leon Black?
Authorities say the driver slammed her SUV into a city bus last evening. Two people were killed, six others injured. The collision precipitated the fiery crash of a news helicopter in which three people were killed, including the pilot and a reporter for KNBC-TV. To East Africa now, where aid agencies are preparing for what could be a record El Nino year. In a worst-case scenario, experts believe up to 3 million people in the region could be displaced by floods.
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Chapters
6 chapters
1
Why did President Trump criticize the Fed’s recent interest‑rate hike?
0:00–0:49
2
What is the White House’s response to the Federal Reserve’s rate increase?
0:49–1:39
3
How did global stock markets react to the Fed’s decision to raise rates?
1:39–2:35
4
What does the new U.S. sanctions package aim to achieve against Russia?
2:35–3:25
5
Why is the Justice Department considering charges against investor Leon Black?
3:25–4:14
6
How are aid agencies preparing for a potential record El Niño flood season in East Africa?
4:14–5:04