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Fed officials cite elevated inflation, slow job growth and uncertainty in Middle East as reasons for holding ratesSign up for the Breaking News US email to get newsletter alerts in your inboxThe US Federal Reserve left interest rates unchanged after its latest board meeting, defying once again Donald Trump’s call for a cut as the central bank prepares for a leadership shake-up next month.On Wednesday, Fed officials continued to cite elevated inflation, slow job growth and uncertainty in the Middle East as reasons why rates were left untouched. Continue reading...

President says he gave Britain ‘better deal than I had to’ but ally was ‘not there when we needed them’ on IranMiddle East crisis – live updatesBusiness live – latest updatesDonald Trump has threatened to row back on the trade deal the US signed with the UK last year, in his latest salvo against the British government over sharp differences about the US’s approach to the Middle East.The US president said the economic deal struck with the UK, which cut some of his tariffs on cars, aluminium and steel, was “better than I had to” and that it could “always be changed”. Continue reading...

The prime minister clearly believed that Trump’s threat of mass bombings of bridges and power plants crossed a new lineGet our breaking news email, free app or daily news podcastAnthony Albanese has adopted a careful and deliberate strategy for dealing with Donald Trump since his return to the White House in early 2025: don’t buy-in, don’t bite back.The approach is a calculation that there is little to be gained from responding to Trump’s every Truth Social post, lest it distract the government, provoke the president or, heaven forbid, threaten the Aukus pact. Continue reading...