Trump administration
Live Blog EndedMay 7, 2025

Fed warns of stagflation, Trump's ambassador to China sworn in

The Fed said it was leaving interest rates unchanged and warned of stagflation risks ahead

온라인카지노사이트 Universal, Inc. Speaking at a news conference Wednesday, Fed Chair Jerome Powell warned that prolonged high tariffs could cause inflation, slower growth, and rising unemployment.

What to Know

  • Former Sen. , R-Ga., was sworn in as Trump's ambassador to China as the administration prepares to on trade and economic matters.
  • it was leaving interest rates unchanged as it warned that the chances of both higher unemployment and higher inflation had climbed in the wake of Trump's tariffs plan.
  • Several of Trump's top officials, including his energy, agriculture and treasury secretaries and his FBI director, testified to Congress today at hearings on the president's . 
  • The U.S. is planning to as early as this week, two U.S. officials with knowledge of the flight told 온라인카지노사이트 News.
  • In a wide-ranging  radio, former President Joe Biden called Trump's dealings with Russian President Vladimir Putin on the war in Ukraine "modern-day appeasement" and defended his record on the U.S. economy.

This live blog on the Trump administration for Wednesday, May 7, 2025, has concluded. See more coverage here.

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