Fed Raises Interest Rates, Iran War and Oil Prices, EU-Canada Alliance

The Federal Reserve raised interest rates for the first time in three years as it tries to bring down stubborn inflation, putting new Fed Chair Kevin Warsh at odds with President Trump’s calls for lower rates. Rising fuel prices linked to the Iran war are driving protests and economic pressure around the world as Saudi Arabia faces attacks on its oil infrastructure and shipping routes. European Union President Ursula von der Leyen is proposing a new “associate member” relationship with Canada as the two draw closer amid tensions with the United States, while President Trump threatens new trade penalties in response. Want more analysis of the most important news of the day, plus a little fun? Subscribe to the Up First newsletter. Support public media with NPR+ and enjoy perks for over 25 podcasts like this one.