Holding

Hearing called after the former chief medical advisor invoked the fifth and refused to answer questions at a hearing on Covid-19 Hello and welcome to our live coverage of US politics.The Senate is expected to vote today on whether to hold Anthony Fauci in contempt of Congress. Continue reading...

• Two Federal Reserve officials dissented against the decision to hold interest rates steady, arguing that a rate hike was necessary to combat elevated inflation. • The internal conflict over monetary policy intensified during Kevin Warsh’s second meeting as chairman of the Federal Reserve. • These dissenting officials believe that higher rates would have placed the central bank in a stronger position to stabilize prices and manage economic volatility.

President calls for former personal defense lawyer to be ‘immediately approved’ as attorney generalDonald Trump has defended controversial plans for a $1.8bn slush fund even as they threaten to derail the nomination of his former personal lawyer Todd Blanche for US attorney general.Blanche “should be immediately approved” by the US Senate, the president declared in a post on his Truth Social platform on Friday morning, defending the payout scheme proposed by his officials in the Department of Justice as it holds up Blanche’s confirmation. Continue reading...

• Federal Reserve official Kevin Warsh reaffirmed the central bank's strict commitment to a 2% inflation target following a decision to hold interest rates steady. • Warsh explicitly clarified that there is no implicit inflation target above 2%, dismissing the idea of a higher acceptable threshold for the committee. • The Fed is currently prioritizing the analysis of underlying inflation dynamics and external shocks to determine future monetary policy shifts.

• Former President Donald Trump stated that Saudi Arabia will likely normalize diplomatic ties with Israel "at some point," despite previous tensions regarding nuclear deals. • Trump characterized a potential agreement with Iran as "smarter" than military conflict, noting that while discussions are occurring, Tehran is not yet ready for a deal. • The U.S. and UK announced plans to hold a major conference next week focused on the strategic security of the Strait of Hormuz.

• The European Central Bank (ECB) is expected to keep interest rates steady during its upcoming policy meeting. • While holding rates, policymakers are likely to signal that further hikes remain a possibility for September. • This cautious strategy is driven by rising energy prices, which threaten to reignite inflationary pressures across the euro area.

• Booking Holdings Inc (BKNG) saw its stock price increase by 8.12% on June 24, driven by a combination of market sentiment and strategic upgrades. • The surge was fueled by lower crude oil prices boosting the broader tourism sector and the integration of Anthropic’s AI models into Priceline to improve operational efficiency. • Institutional investors increased their positions in the company, citing that the stock had reached historically attractive valuation levels.