Live from NPR News in Washington, I'm Windsor, Johnston.
That a reserve chair, Kevin Worst, says inflation is too high, but is offering few clues
about where interest rates are heading.
“And a closely watch speech and Jackson Hole Wyoming today, Worst said the Fed needs flexibility”
to respond to the economy, rather than feel bound by Wall Street expectations. We should not indulge a regime in which market participants are looking primarily to the Fed for their next trade. The economic literature has long described the distorting effects, what it called the Hall of Mirror's Problem.
If markets rely, materially on the Fed's guidance and the Fed relies on market prices, were more likely to be blinded to new developments. Worst says inflation is running above the Fed's 2% target, adding that the focus right now should be on prices. Officials in China say if five people have died and more than 500 others remain missing
on the Tibet side of the China Nepal border after catastrophic flooding this week, rescue crews have reached the hardest hit area after operations were briefly suspended over fears and upstream lake could overflow. NPR's Jennifer Pack reports from Beijing.
“The lake was formed after an enormous chunk of ice snapped off a glacier, triggering waves”
of mud, water, and ice barreling down the Himalayas on Wednesday. Trees and homes were swept away, or submerged. Chinese state media showed aerial shots of the D-long border checkpoint buried under a mudslide, including a six-story building. Some of the debris jammed up the water.
A lake started forming upstream, and it's been filling up. It's also been raining in the area. Chinese rescue workers are racing to reduce the risk of more flooding. And police in Nepal say the Chinese have told them to be on alert on their side of the border.
Jennifer Pack and PR News Beijing. A judging California has ruled that the Pentagon cannot designate the AI company and thropic as a supply chain risk. NPR's Debrumfield reports the ruling came over the use of artificial intelligence in warfare.
“In her 59-page ruling district judge Rita Lynn said that the Pentagon violated Anthropics”
First Amendment rights to indesignate the company "a supply chain risk." The government argued that Anthropics technology could threaten national security but
Dutch Lynn said they never produced the proof.
Rather she said the Pentagon tried to use the designation to "make a public example out of Anthropic." The fight began after Anthropic tried to put limits on its technology. It demanded the Pentagon not used it to AI tools for fully autonomous weapons or the mass surveillance of Americans, Jeff Brumfield and PR News.
On Wall Street, the Dow was up 207 points. This is NPR News Canada is backing part of its retaliation in the escalating trade war with the U.S., Ottawa had threatened tariffs on about $20 billion in American goods after President Trump announced new 50% tariffs on Canadian imports. The Canada has now removed U.S. seafood from that list, bringing some relief to fishermen
in Maine. Michael Livingston of Maine Public Reports Canada says it made the change after meeting with seafood industry leaders to "protect against broader economic harms." Maine typically exports more than half of its annual lobster landings to Canada for processing,
bringing in over $1 billion a year.
The sort of back and forth trade of the product across the border has been something that's kept both industries thriving for many, many years now. Maine Lobster Man Association head Patrice McCarran says the tariffs would have disrupted that market overnight, reducing revenue for Lobster Man. Maine Republican Senator Susan Collins, who's in a tough race for reelection, criticized
the Trump administration for starting the trade war, saying border states economies are inextricably linked to trade with Canada. For NPR News, unlike a Livingston, in Canada, Maine. testimony has ended in the Las Vegas murder trial of the manic cues of ordering the 1996 killing of rap artist Tupac Shakur.
The defense rested its case Thursday, closing arguments are set to begin next week. Dwayne Davis has pleaded not guilty to murder. Shakur was 25 years old when he was fatally shot near the Las Vegas strip. On Wall Street, the Dow up 185 points, the NASDAQ up 150. This is NPR.
This season on Planet Money Summer School, we have drilled for oil in Norway. We've smuggled products in the North Korea, and now we make it to our 7th continent, Antarctica. That's right. Big for me. Mr. Penguin, speak for me.
I have another sound of Antarctica, that's a reporter trying to interview a penguin. We'll explain on Planet Money Summer School, listen on the NPR app or wherever you get
Your podcasts.
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