“President Trump spent last year demanding rate cuts from the Federal Reserve. Investors now expect his handpicked chairman to reverse course and start raising them this week,” the Wall Street Journal reports.

“The case for raising rates is a measure of how much the outlook has shifted since Kevin Warsh took over the central bank in May. The war with Iran has gone on longer than officials and investors expected and has pushed energy prices higher in recent weeks. New tariffs have taken effect. The AI build-out has strained supply chains for electricity and technology equipment, adding to demand faster than it has added to the economy’s capacity to meet it.”

“That leaves Warsh facing the fight Trump hoped he would avoid when he selected the new chairman.”

Associated Press: Federal Reserve expected to raise its benchmark rate, defying Trump.

“Jared Kushner was simultaneously ‘raising another five billion dollars’ from the Middle East for his investment firm while also engaging in talks with Iran this year,” Mediaite reports.

“I am the Hoax Buster.”

— President Trump, quoted by Axios, saying fears over AI are way overblown.

“Multiple staffers at a Trump-aligned policy think tank have burrowed their way into the U.S. Census Bureau, where they have access to sensitive data and have contributed to a public report that bolsters conspiracy theories undermining trust in elections ahead of the midterms,” Wired reports.