Federal Reserve expected to announce interest rate increase – live

Kevin Warsh, Donald Trump’s pick for Fed chair, expected to raise rates despite intense pressure from president Business editor The Fed has two mandates: price stability and supporting the job market. The jobs market has remained robust but spikes in energy prices have put the central bank under pressure to raise rates in order to bring down inflation.

Americans have spent over $100bn extra on gasoline and diesel during Trump ’s war on Iran than they would have had there been no war, according to estimates by the Climate Solutions Lab at Brown University.

Read the original report at The Guardian.