Coverage in Washington

Monetary policy

Fed holds rates steady as inflation pressures persist

The central bank kept its benchmark rate at 3.5% to 3.75%, but an 8-4 vote showed rare internal division over how to frame possible future cuts

Iran policy

State Department rebukes Wendy Sherman after Trump Iran criticism

The former Obama Iran negotiator said Trump lacks a strategy; a department spokesperson answered that she has “no credibility” on Tehran

Inflation and growth

Core inflation rose to 3.2% in March as GDP missed forecasts

The Fed’s preferred inflation gauge accelerated while first-quarter growth came in at 2%, complicating the central bank’s next move after it held rates steady

Federal Reserve

Warsh’s Fed chair nomination advances to full Senate

The Senate Banking Committee backed President Trump’s pick on a 13-11 party-line vote, setting up a confirmation fight as Jerome Powell’s term as chair nears its end

Court filing

Prosecutors say Trump dinner suspect took armed selfie before attack

A new detention memo says Cole Tomas Allen posed in his Washington Hilton room about 30 minutes before allegedly rushing a security checkpoint near the president

Federal Reserve

Warsh Signals Limits on Fed Independence in Swap-Line Questions

The Fed chair nominee told Senate Democrats that the central bank’s special deference is strongest in monetary policy, not necessarily in international finance