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Fed holds interest rates steady despite Trump’s renewed calls to lower them

Fed holds interest rates steady despite Trump’s renewed calls to lower them

July 29, 2026 • Business • Guardian World

Summary

The US Federal Reserve decided to keep interest rates unchanged, resisting President Donald Trump’s calls to lower them. The Fed’s decision comes amid mixed signals from inflation data and rising energy prices linked to tensions in the Middle East.

Key Facts

  • The Federal Reserve left interest rates steady at 3.5% to 3.75% for the fifth time since December.
  • The decision was made with a 9-3 vote; three members wanted to raise rates by 0.25%.
  • Cooler inflation data earlier lowered chances of a rate hike, but rising energy costs support a possible increase.
  • Kevin Warsh is the new Fed chair and is introducing changes to how the Fed communicates and makes decisions.
  • The ongoing conflict involving the US, Israel, and Iran has caused energy prices to rise in the US.
  • President Trump continues to push for lower interest rates, suggesting the US should have “the lowest rates in the world.”
  • Warsh has expressed confidence in his fellow Fed board members and their commitment to controlling inflation.
  • Half of the Fed's members now expect at least one rate hike by the end of the year, reversing earlier predictions of rate cuts.
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Guardian World Guardian US Guardian Business
An Ozempic Pill Was Tested on Heavy Drinkers—the Results Were Promising

An Ozempic Pill Was Tested on Heavy Drinkers—the Results Were Promising

July 29, 2026 • Technology • Newsweek

Summary

Researchers tested an oral diabetes and weight-loss drug called semaglutide on adults with alcohol use disorder (AUD). The study found that the drug helped reduce heavy drinking and alcohol cravings without causing weight loss, suggesting a new way to treat AUD.

Key Facts

  • Semaglutide is a medication originally for diabetes and weight loss, now used by many Americans.
  • The study involved 50 adults with AUD and lasted eight weeks.
  • Participants taking oral semaglutide drank less heavily and had fewer alcohol cravings.
  • The drug’s effect on reducing drinking did not involve weight loss or changes in eating.
  • Alcohol use disorder affects about 27 million adults in the U.S. as of 2024.
  • No new medicines for AUD have been approved in nearly 20 years.
  • Researchers believe semaglutide may work by reducing dopamine signals in the brain’s reward centers.
  • Larger and longer studies are needed before semaglutide can be recommended as an AUD treatment.
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Newsweek
Libya electricity blackout protests expose country’s failing grid

Libya electricity blackout protests expose country’s failing grid

July 29, 2026 • World • Al Jazeera

Summary

Libya is facing severe power outages during a heatwave, leading to widespread protests in Tripoli and other areas. Protesters are demanding government accountability amid a long-term breakdown of the country’s electricity system and political divisions.

Key Facts

  • Libya is experiencing frequent power cuts lasting around 10 hours daily.
  • Temperatures in the region have exceeded 48 degrees Celsius (118 degrees Fahrenheit).
  • Protests involve road blockades, burning tires, and blocking government buildings.
  • Protesters attacked the Mellitah oil and gas complex, disrupting gas supplies for electricity.
  • The Government of National Unity (GNU) controls Tripoli but faces opposition from a rival eastern administration.
  • The power crisis is linked to failing infrastructure and political fragmentation since 2014.
  • The crisis affects the entire country, with residents relying on private generators for power.
  • International actors, including US officials, have urged Libyan political unity and stability.
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Al Jazeera
Excessive time spent online linked to stress and worse mood – study

Excessive time spent online linked to stress and worse mood – study

July 29, 2026 • Technology • Guardian Tech

Summary

A new study found that spending too much time online can increase stress and worsen mood, especially when internet use becomes excessive or problematic. The urge or temptation to go online drives this behavior, which can lead to neglecting other important life activities.

Key Facts

  • The study surveyed 900 German adults in 2025 about their use of gaming, online shopping, social networks, and pornography.
  • Internet use was categorized as pathological (very harmful), risky, or non-problematic based on frequency and impact.
  • Participants reported their mood, stress, online time, and urges to use the internet every evening for two weeks.
  • Problematic internet users showed worse mood, higher stress, longer online times, and neglected other areas of life.
  • The main reason people continued excessive online use was a strong temptation or urge to go online.
  • Not all internet use is harmful; many people use the internet for fun and stress relief without negative effects.
  • The study suggests helping people manage moments of temptation could prevent problematic internet use.
  • Other activities like exercise and spending time with friends can improve wellbeing and reduce harmful internet use.
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Guardian Tech
Fed holds interest rates as new Iran tensions raise inflation risks

Fed holds interest rates as new Iran tensions raise inflation risks

July 29, 2026 • Business • The Hill

Summary

The Federal Reserve kept its key interest rate unchanged at 3.5% to 3.75% for the fifth meeting in a row. This decision comes as new tensions involving Iran raise concerns about higher energy prices and inflation risks.

Key Facts

  • The Federal Reserve’s main interest rate remains at 3.5% to 3.75%.
  • This is the fifth consecutive time the rate has stayed the same.
  • The decision was made by the Federal Open Market Committee (FOMC) with a 9-3 vote.
  • Rising tensions with Iran have caused worries about higher energy costs.
  • Higher energy prices can lead to increased inflation, which means prices for goods and services rise.
  • The Federal Reserve aims to manage inflation without slowing down the economy too much.
  • Keeping rates steady suggests the Fed is cautious about making changes amid global uncertainties.
  • Interest rates influence borrowing costs for people and businesses.
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The Hill
Fire erupts on ships at Egypt’s Damietta port

Fire erupts on ships at Egypt’s Damietta port

July 29, 2026 • World • Al Jazeera

Summary

Two gas processing and storage ships caught fire at Egypt’s Damietta port. The fire was controlled quickly, no one was hurt, and port operations are expected to start again soon.

Key Facts

  • Two ships used for gas processing and storage caught fire at Damietta port in Egypt.
  • The Egyptian oil ministry said no injuries occurred and emergency plans were followed immediately.
  • A blast happened at the liquefied natural gas (LNG) terminal, according to Inchcape, a maritime shipping company.
  • A US-owned floating storage tanker was reportedly hit by a drone at the port.
  • Crew members on the tanker were evacuated safely.
  • No one has claimed responsibility for the attack.
  • The incident took place amid rising tensions between the US and Iran, involving recent missile attacks and joint US-Saudi strikes on a Tehran-backed group in Iraq.
  • President Donald Trump had recently paused bombing Iran to allow time for diplomacy.
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Al Jazeera
The Federal Reserve just froze interest rates yet again. Here's what that could mean for mortgage rates.

The Federal Reserve just froze interest rates yet again. Here's what that could mean for mortgage rates.

July 29, 2026 • Business • CBS News

Summary

The Federal Reserve has kept its main interest rate steady for the fifth time in 2026, but a rate increase may happen in September due to ongoing inflation and global issues. This situation affects mortgage rates, which could rise again, impacting homebuyers and people looking to refinance their homes.

Key Facts

  • The Federal Reserve paused interest rate changes for the fifth time in 2026.
  • Inflation remains above the Fed’s 2% target, raising chances of a rate increase soon.
  • A possible rate hike could happen at the Fed’s September meeting, the first since July 2023.
  • Mortgage rates had dropped in 2025 and early 2026 but have risen again recently.
  • Mortgage rates might return to around 7% or higher if the trend continues.
  • Locking in a mortgage rate now can protect borrowers from future rate increases.
  • Considering adjustable-rate mortgages, paying points for lower rates, or shorter loan terms may help save money.
  • Shopping around for the best mortgage rate is especially important before a possible rate hike.
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CBS News
Laura Ingraham stands at Fauci hearing alongside others ‘shamed’ during COVID-19

Laura Ingraham stands at Fauci hearing alongside others ‘shamed’ during COVID-19

July 29, 2026 • Us • The Hill

Summary

Fox News host Laura Ingraham attended a Senate hearing where Dr. Anthony Fauci answered questions about the COVID-19 pandemic. During the hearing, Senator Bernie Moreno asked people who felt "shamed" over their beliefs or actions during the pandemic to stand, and Ingraham stood up along with others.

Key Facts

  • Laura Ingraham watched the Senate hearing where Dr. Anthony Fauci testified.
  • Senator Bernie Moreno asked if people who felt shamed during COVID-19 would stand.
  • Ingraham stood up to show she felt shamed for her views or actions during the pandemic.
  • The hearing involved discussions about public reactions to COVID-19 information.
  • The event took place on a Wednesday in the Senate chamber.
  • Other attendees also stood to signal they felt "shamed" during the pandemic.
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The Hill
Watch live: Trump, Duffy unveil plans for Dulles renovation

Watch live: Trump, Duffy unveil plans for Dulles renovation

July 29, 2026 • Us • The Hill

Summary

President Donald Trump and Transportation Secretary Sean Duffy announced a renovation plan for Dulles International Airport near Washington. The project, costing more than $20 billion, will add a new underground system to connect terminals and remove the airport's current mobile lounges.

Key Facts

  • President Donald Trump and Transportation Secretary Sean Duffy made the announcement.
  • The renovation is for Dulles International Airport near Washington, D.C.
  • The project will cost over $20 billion.
  • It includes building a new underground connection system between terminals.
  • The airport's current mobile lounges, which transport passengers, will be removed.
  • The mobile lounges are well-known and unique to this airport.
  • The announcement took place on a Wednesday afternoon.
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The Hill
Education minister resigns: 'Exhilarating moment' for India's youth as they demand accountability

Education minister resigns: 'Exhilarating moment' for India's youth as they demand accountability

July 29, 2026 • World • France24

Summary

India's Education Minister resigned following protests by young people demanding government accountability. The government also passed stricter anti-cheating laws and created a reform task force in response to the youth movement.

Key Facts

  • The Education Minister of India resigned amid youth protests.
  • Youth in India have been actively demanding more government accountability.
  • The government introduced higher penalties for cheating in education.
  • A task force was formed to work on educational reforms.
  • The youth movement shows growing political engagement beyond online protests.
  • Critics say government changes focus on procedures, not deep structural problems in education.
  • The protests reflect wider political changes involving resistance to fear-based politics under Prime Minister Narendra Modi's government.
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France24
Elon Musk’s xAI is trying to sue its way out of a Grok reckoning

Elon Musk’s xAI is trying to sue its way out of a Grok reckoning

July 29, 2026 • Technology • Ars Technica

Summary

Elon Musk’s AI company xAI is involved in lawsuits related to its AI tool Grok, which users have used to create harmful images, including child abuse materials. xAI is suing users who bypass safeguards and is challenging a new Minnesota law that would impose heavy fines on companies for such harmful AI outputs.

Key Facts

  • xAI’s AI tool Grok has been used by some users to generate illegal child sexual abuse images.
  • xAI has started suing users who it says bypassed safeguards to create such harmful content.
  • Minnesota passed a law effective August 1, 2026, that fines companies up to $500,000 per harmful AI output found in the state.
  • The law could result in fines totaling billions of dollars for companies with many violating images.
  • xAI argues it is already punishing bad users through lawsuits and wants legal protection against the new law.
  • The law allows victims to sue AI companies directly over harmful outputs.
  • xAI says the Minnesota law violates free speech protections under the First Amendment.
  • Due to the law, xAI plans to limit some image-editing features in Grok starting August 2026 but prefers to keep the tool unchanged.
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Ars Technica
Japan earthquake leaves widespread destruction

Japan earthquake leaves widespread destruction

July 29, 2026 • World • Al Jazeera

Summary

A strong magnitude 7.1 earthquake hit southern Japan, causing serious damage to buildings and killing at least 13 people. Rescue teams are working to find people who may be trapped under the rubble.

Key Facts

  • The earthquake measured 7.1 in magnitude.
  • It struck southern Japan.
  • At least 13 people died due to the earthquake.
  • Temples, shopping centers, and factories were damaged.
  • Rescue teams are searching for survivors who might be trapped.
  • Videos from the area show widespread destruction.
  • The earthquake caused significant disruption in the region.
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Al Jazeera
Largest ICE detention center in California violated order to provide adequate medical care: Monitor

Largest ICE detention center in California violated order to provide adequate medical care: Monitor

July 29, 2026 • Us • The Hill

Summary

A court-appointed monitor reported that California’s largest ICE detention center did not follow a court order to give proper medical care to migrants held there. The report said the center neglected the health needs of detained people.

Key Facts

  • The report was made by Dr. Muthusamy Anandkumar, a court-appointed monitor.
  • The California City Immigration Processing Center is the largest ICE detention center in California.
  • The center is located about 75 miles east of Bakersfield, California.
  • The monitor found that the facility failed to provide adequate medical care to detainees.
  • The center violated a court order related to medical care standards.
  • Migrants held in this facility did not have their medical needs properly addressed.
  • The monitor’s findings were announced on a Monday.
  • The report highlights ongoing concerns about detainee treatment in ICE centers.
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The Hill
Stephen Colbert wins an anti-censorship award after CBS ends ‘The Late Show’

Stephen Colbert wins an anti-censorship award after CBS ends ‘The Late Show’

July 29, 2026 • Us • AP News

Summary

Stephen Colbert received an anti-censorship award from the Before Columbus Foundation after CBS ended his show "The Late Show" in May, citing economic reasons. The foundation honors diverse voices in U.S. literature and culture and gave awards to various authors and publishers during its 47th annual American Book Awards.

Key Facts

  • Stephen Colbert hosted "The Late Show" for 11 years and was known for his conflicts with President Donald Trump.
  • CBS ended "The Late Show" in May 2026, saying it was due to economic reasons.
  • Colbert received an anti-censorship award from the Before Columbus Foundation, which promotes diversity in American literature and culture.
  • The foundation’s American Book Awards recognize a wide range of writers, from famous authors to new and under-recognized ones.
  • Other award winners included booksellers, publishers, and authors like Nicholas Boggs, John Fugelsang, and Karen Tei Yamashita.
  • The Before Columbus Foundation is a nonprofit based in Oakland, California.
  • The awards reflect diversity naturally without set quotas.
  • Stephen Colbert’s award was shared with Mitchell Kaplan, a leading independent bookseller.
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AP News
Deadly flooding in West Virginia finds prevention plans unaddressed

Deadly flooding in West Virginia finds prevention plans unaddressed

July 29, 2026 • Us • AP News

Summary

Severe flooding in north central West Virginia has caused deaths and damaged homes, exposing gaps in the state’s flood prevention efforts. Although a Flood Resiliency Office was created after deadly floods in 2016, it has received limited funding, and much of the state's flood prevention plan remains unimplemented.

Key Facts

  • At least two people have died and many homes were damaged in recent West Virginia floods.
  • The 2016 flood in West Virginia was deadlier, killing nearly two dozen people across a wider area.
  • West Virginia created a Flood Resiliency Office after the 2016 floods to help prevent future damage.
  • The office operated without significant funding for almost a decade.
  • In 2026, the state allocated $5 million for the Flood Resiliency Office, less than previously proposed amounts.
  • Much of the 2004 flood prevention plan has never been fully funded or put into action.
  • Flood risks have increased due to more severe storms linked to climate change.
  • About 25% of important structures like fire stations in West Virginia are now at risk of flooding.
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AP News
South Korea’s stock market plunges as AI-driven boom fades

South Korea’s stock market plunges as AI-driven boom fades

July 29, 2026 • Business • Al Jazeera

Summary

South Korea’s stock market has fallen sharply for two days in a row, losing about $2.18 trillion in value. The drop is linked to less interest in chipmaker stocks that had grown due to AI investments, and the government is considering new rules to stabilize the market.

Key Facts

  • South Korea’s stock market lost about $2.18 trillion after two days of sharp declines.
  • The KOSPI index fell up to 12.6% on Wednesday and dropped nearly 11% the day before.
  • The index has lost almost 40% of its value since early July.
  • Stocks of chipmakers, which benefited from AI investment, have seen decreased demand.
  • South Korean Finance Minister Koo Yun-cheol apologized for allowing risky leveraged ETFs (investment funds that borrow money to increase returns).
  • The government plans to limit how much investors can put into single-stock leveraged ETFs and increase trading costs to reduce risky trades.
  • Authorities, including the Bank of Korea governor, are meeting to discuss how to stabilize the market.
  • Despite recent losses, the KOSPI index is still up 41.5% in U.S. dollar terms so far this year, the best among major markets.
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Al Jazeera
Josh Turek's Chances of Beating GOP in Iowa as Obama Issues Endorsement

Josh Turek's Chances of Beating GOP in Iowa as Obama Issues Endorsement

July 29, 2026 • Us • Newsweek

Summary

President Barack Obama endorsed Josh Turek, the Democratic candidate for U.S. Senate in Iowa, in a video where they played basketball together. The Iowa Senate race is competitive, with Republican Ashley Hinson running to replace retiring Senator Joni Ernst. Iowa is a Republican-leaning state that President Donald Trump won by a large margin in 2024.

Key Facts

  • Josh Turek is a Democratic state House member and two-time Paralympic gold medalist.
  • President Obama endorsed Turek in a video where they played basketball and discussed Iowa.
  • The seat is open because Republican Senator Joni Ernst is not running for reelection.
  • Republican Ashley Hinson, endorsed by President Trump, is Turek’s main opponent.
  • Iowa voted strongly for President Trump in 2024, winning by 13 points.
  • Polls show a close race, but the state leans Republican.
  • Scholars say independent voters will likely decide the outcome.
  • Democrats have not won an Iowa Senate seat since 2008.
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Newsweek
WATCH: Sen. Paul says he will hold a contempt vote after Fauci invokes 5th Amendment

WATCH: Sen. Paul says he will hold a contempt vote after Fauci invokes 5th Amendment

July 29, 2026 • Us • PBS NewsHour

Summary

Senator Rand Paul said the Senate will vote on whether to hold Dr. Anthony Fauci in contempt because Fauci refused to answer questions during a hearing. Fauci invoked the Fifth Amendment, which protects people from having to answer questions that might incriminate them.

Key Facts

  • Senator Rand Paul is leading the effort to hold Dr. Fauci in contempt.
  • The vote will take place in the Senate Committee on Homeland Security and Governmental Affairs.
  • Dr. Fauci was called to testify about the origins of COVID-19.
  • Fauci used the Fifth Amendment to avoid answering questions.
  • The Fifth Amendment allows someone to refuse to answer questions to avoid self-incrimination.
  • Senator Paul wanted Fauci to apologize or admit mistakes but did not hear either.
  • Fauci is a former top health official and scientist involved in COVID-19 response.
  • The hearing was held by Senate Republicans.
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PBS NewsHour
Iran pushes back against US as regional attacks heat up

Iran pushes back against US as regional attacks heat up

July 29, 2026 • World • Al Jazeera

Summary

Iran has responded to recent attacks by firing missiles at a US base in Jordan, which were intercepted. President Donald Trump warned of strong retaliation. The conflict involves multiple groups and countries in the Middle East, with tensions rising and diplomatic efforts facing challenges.

Key Facts

  • Iran’s Islamic Revolutionary Guard Corps launched missile strikes on a US military base in Jordan.
  • Jordan intercepted all five missiles fired by Iran.
  • President Trump threatened a hard response against Iran and its allied groups.
  • Iran reported a missile strike in its West Azerbaijan border area with no deaths.
  • Israel said a Hezbollah drone attacked an Israeli military vehicle in southern Lebanon.
  • Yemen’s Houthis, supported by Iran, targeted Saudi oil facilities and ships.
  • The US and Saudi Arabia conducted joint strikes against Iran-aligned fighters in Iraq, killing at least 20.
  • Iran rejected a proposed shared control of the Strait of Hormuz and opposed foreign de-mining operations.
  • Diplomatic talks have stalled as Iran accuses the US of blocking its ports and breaking agreements.
  • Experts say Iran expects further US military attacks and is preparing for more conflict.
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Al Jazeera
Trump to Remake Dulles Airport in Latest Washington, DC Makeover Effort

Trump to Remake Dulles Airport in Latest Washington, DC Makeover Effort

July 29, 2026 • Us • Newsweek

Summary

President Donald Trump announced a $22 billion plan to rebuild Washington Dulles International Airport with new concourses and upgrades to make it a world-class international hub. This project is part of a larger effort to modernize important buildings and public spaces in Washington, D.C., including new construction at the White House such as a ballroom and a helipad.

Key Facts

  • President Trump revealed a $22 billion plan to remake Dulles Airport.
  • The plan includes building four new concourses and upgrading airport facilities.
  • The project aims to address old infrastructure and expand airport capacity.
  • United Airlines, which handles about 70% of Dulles passengers, will help fund the project along with the airport authority.
  • Trump has criticized Dulles Airport for being outdated and in need of modernization.
  • Trump is also working on a new 90,000-square-foot White House ballroom to host large events.
  • A new granite helipad is being built on the White House lawn for the newer presidential helicopters.
  • The White House North Portico is undergoing renovations as part of these efforts.
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Newsweek
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