Bloomberg Bytes. . .

A strategic pivot by Warsh, who had previously suggested rates could fall, to demonstrate the Fed’s independence and commitment to containing price increases ahead of the November midterms. 

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Al Drago/Bloomberg

Warsh Bucks Trump With Rate Increase to Contain Inflation

The Federal Open Market Committee voted unanimously to increase the benchmark federal funds rate to a range of 3.75% to 4%.

Fed Raises Rates by Quarter Point, Sees One More Hike This Year

Key Takeaways From Fed Decision to Raise Interest Rates

Dollar Rises as Fed Signals More Rate Increases This Year

Stocks Fall as Fed Hikes and Signals More to Come

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Al Drago/Bloomberg

Warsh Bucks Trump With Rate Increase to Contain Inflation

The Federal Open Market Committee voted unanimously to increase the benchmark federal funds rate to a range of 3.75% to 4%.

Kevin Dietsch/Getty Images

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Zuckerberg Has an AI Empire to Build. Meet the Adviser Who Handles the Details

Dina Powell McCormick is Mark Zuckerberg's right-hand adviser as he builds an AI empire.

META

1.22%

Meta’s Zuckerberg Favors Evaluators Over Slowdown of AI Development

Apple Is Developing Enterprise Server for AI Age, Report Says

Microsoft AI Chief Warns Anthropic’s Humanlike Claude Is Risky

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‘Like It’s Raining Gold’: The AI Boom’s Unexpected Billionaires

Brendon Thorne/Bloomberg

Goldman CEO Warns of Higher Costs, Softness in Fixed Income

David Solomon said costs are expected to be higher given how busy the bank has been with client activity in the period.

JPMorgan Sees Third-Quarter Investment Bank, Trading Gains

Satellite image (c) 2026 Vantor/Getty Images

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Saudis Seek to Resume Half of Key Oil Pipeline Within Days

State-run Saudi Aramco is working to bypass a damaged section on the route that will allow it to resume part of the pipeline’s capacity.

CO1

2.70%

CL1

3.12%

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The Iran Blockade’s Growing Price Tag Is Draining America's Global Military Power

United, American Say Fuel Cost Surge May Mean Capacity Cuts

Kevin Dietsch/Getty Images

Billionaire Leon Black Referred by House to DOJ for Contempt

The US House voted to refer billionaire Leon Black to the Justice Department for contempt of Congress for refusing to cooperate with an investigation into sex offender Jeffrey Epstein.

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The Epstein Clause: How $500 Helped Build a Wall Around Secrets

Bloomberg Businessweek

KangHee Kim for Bloomberg Businessweek; photos: Getty Images

What’s Inside the Bond Market’s ‘Toxic Stew’

Inflation, war, AI and the national debt are all ingredients driving up yields.

By Stacey Vanek Smith 

SeongJoon Cho/Bloomberg

Bitcoin Hit By ‘Double Whammy’ of Bill Rejection, Rate Hike

With hopes for the Clarity Act passing vanquished — at least for now — digital-asset enthusiasts are left wondering: if regulatory clarity isn’t the redeemer the industry had hoped for, then what is?

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Crypto’s Push Into Wall Street Suffers Setback After Bill Fails