Top Stories; Wholesale prices unexpectedly declined 0.1% in August, as Fed rate decision looms

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Wholesale prices unexpectedly declined 0.1% in August, as Fed rate decision looms

Source: CNBC • Published: 9/10/2025, 6:05:38 PM

Wholesale prices unexpectedly declined 0.1% in August, as Fed rate decision looms

Wholesale prices surprisingly fell slightly in August, providing breathing room for the Federal Reserve to approve an interest rate cut at its meeting this month, according to a Bureau of Labor Statistics report Wednesday.

The producer price index, which measures input costs across a broad array of goods and services, fell 0.1% for the month, after a sharp increase in July and well off the Dow Jones estimate for a 0.3% increase.

Core PPI, which excludes volatile food and energy prices, also was off 0.1% after being expected to increase 0.3% as well.

The release comes a week ahead of when the central bank's Federal Open Market Committee releases its decision on its key overnight borrowing rate.

Futures market pricing implies a 100% probability that the committee will approve its first rate cut since December 2024, though the PPI release and a consumer price reading tomorrow are being watched closely for indications of whether policymakers will follow through.

Though inflation remains well above the Fed's 2% target, officials have expressed confidence that easing housing and wage pressures will push prices lower, if only gradually.

The Fed has resisted rate cuts this year as officials monitor the impact from President Donald Trump's aggressive tariffs against U.S. imports. Tariffs historically have not been a lasting cause of inflation, but the broad-based nature of Trump's moves have raised concern that this episode could be different.

For his part, Trump has badgered the Fed to lower rates, insisting that tariffs will not be inflationary and the economy needs lower rates both to spur growth and to cap financing costs for the swelling national debt.

Concerns have been rising at the Fed over the employment picture while inflation fears have abated. A BLS report Tuesday indicating that the economy created nearly 1 million fewer jobs than initially reported in the year preceding March 2025 raised worries that the labor market is in trouble even as Fed officials consistently have characterized the picture as "solid."

The Fed meeting next week will feature both a rate decision and an update on where officials see the economy and interest rates headed in the future.

This is breaking news. Please refresh for updates.

Read the full story at CNBC.


Scalise hints GOP may push nationwide crime crackdown after DC overhaul

Source: Fox News • Published: 9/10/2025, 5:55:43 PM

Scalise hints GOP may push nationwide crime crackdown after DC overhaul

EXCLUSIVE: House Republicans are having early talks about cracking down on crime nationwide, the No. 2 GOP lawmaker suggested on Tuesday.

"There are discussions about addressing some of these problems at a more federal level, but right now, we're focused on D.C.," House Majority Leader Steve Scalise, R-La., told Fox News Digital.

"The president's been very effectively reducing crime in D.C., and he's got some limitations right now with a lot of these ordinances, and that's what we're focused on cleaning up."

He added, however, "But we're not done."

Police officer DC

A police officer outside the U.S. Capitol in August 2025.  (Getty Images)

It comes after President Donald Trump federalized the Washington, D.C., police force and deployed federal troops to the capital city in a bid to end violent crime. He's now eyeing National Guard deployments in other cities across the country, though the idea has been met with criticism by Democrats.

The House Oversight Committee is slated to advance several bills dealing with D.C. criminal sentencing this week, which will likely get full House votes in the coming months.

Scalise's comments suggest that while lawmakers are currently focused on overhauling Washington, D.C.'s criminal policies, it's possible they could turn to the rest of the country at some point as well.

Trump similarly signaled last month that he wanted to see a bill dealing with crime across the U.S.

"Speaker Mike Johnson, and Leader John Thune, are working with me, and other Republicans, on a Comprehensive Crime Bill. It's what our Country needs," he wrote on Truth Social.

House Majority Leader Rep. Steve Scalise

House Majority Leader Rep. Steve Scalise suggested Congress could look at U.S.-wide crime legislation in the future. (Anna Moneymaker/Getty Images)

House GOP leaders also railed against crime in Democrat-run cities and states during their weekly press briefing on Tuesday – specifically their leaders' opposition to National Guard deployments.

Such moves by the federal government could risk court battles with Democrat-run states and cities, as was the case when Trump sent the National Guard into Los Angeles earlier this year over the objections of California Gov. Gavin Newsom.

"I mean, these mayors in these big blue cities have to ask this question – and I think their voters and the residents and the law-abiding citizens in all these cities should be asking local leadership, 'How long are you going to put up with this? When are you going to put your foot down and do the right thing?'" Speaker Mike Johnson, R-La., posed.

"This is common sense. And I cannot, for the life of me, understand how the Democrats think this is some sort of winning political message. Yield, man. Let the troops come into your city, and show how crime can be reduced."

Donald Trump standing with federal law enforcement.

President Donald Trump visits the U.S. Park Police Anacostia Operations Facility on Aug. 21, 2025 in Washington, D.C.  (Anna Moneymaker/Getty Images)

Scalise, meanwhile, said at the press conference that Democrats "want crime to continue."

"They want to continue defunding the police and try to have it both ways. And President Trump is tired of that game, because he's tired of watching people be hurt. There's no reason for this violent crime wave that we see in so many cities," Scalise said. 

"So we're going to continue to have the president's back and, frankly, have the American people's back, regardless of their party, regardless of what city they live in. Everybody deserves to be safe, and Republicans are going to continue to push policies to help put that in place."

Elizabeth Elkind is a politics reporter for Fox News Digital leading coverage of the House of Representatives. Previous digital bylines seen at Daily Mail and CBS News.

Follow on Twitter at @liz_elkind and send tips to elizabeth.elkind@fox.com

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Poland shoots down Russian drones as Ukraine warns Putin is 'testing the West'

Source: CNBC • Published: 9/10/2025, 5:47:22 PM

Poland shoots down Russian drones as Ukraine warns Putin is 'testing the West'

Poland's military on Wednesday decried an "unprecedented violation" as the country's airspace was breached by a number of Russian drones that were shot down.

In the early hours of Wednesday morning, Poland's military said it scrambled its own and NATO air defenses to take down drones that entered its airspace amid a widespread Russian attack in western Ukraine.

In a social media post, Polish Prime Minister Donald Tusk said he was in constant communication with NATO Secretary General Mark Rutte and with the country's allies after Polish airspace was violated by a "huge number" of Russian drones.

A NATO spokesperson echoed these remarks, saying on X that "numerous drones entered Polish airspace overnight and were met with Polish and NATO air defences."

The incident marks the first time that Poland engaged assets in its airspace since Russia's full-scale invasion of Ukraine in early 2022.

It also comes as the European Union steps up its efforts to impose what would be the first coordinated transatlantic measures against the Kremlin since U.S. President Donald Trump returned to office.

The Trump administration, for its part, has asked the EU to hit China and India with tariffs of up to 100% over the countries' Russian oil purchases, seeking to cut off a major source of revenues funding President Vladimir Putin's war machine.

Some Polish airports, including the capital's main international airport, Warsaw Chopin, were temporarily closed due to military activity. Warsaw Chopin and others have since been reopened.

Ukrainian Foreign Minister Andrii Sybiha on Wednesday said that Russian drones entered Polish airspace during what he described as a "massive" attack on Ukraine. In a post on X, he said that Putin keeps escalating and expanding his war, "and testing the West."

The Ukrainian official called for partners to "urgently strengthen" Ukraine's air defense and said sanctions "must be ramped up without delay."

Ukrainian President Volodymyr Zelenskyy said about eight Russian drones were involved in the incursion into Polish territory, calling the development "an extremely dangerous precedent for Europe."

A Kremlin spokesperson declined to comment on Poland's statement that it had shot down Russian drones in its airspace, saying it was a matter for the defense ministry.

Asked about the drone attack and NATO and the European Union accusing Russia of provocation, Kremlin spokesperson Dmitry Peskov said: "The leadership of EU and NATO accuse Russia of provocations on a daily basis. Often without even trying to present any arguments."

Earlier in the day, a Russian diplomat said that Poland had not given any evidence that the drones in question were of Russian origin.

"We consider the accusations groundless," Andrei Ordash, Russia's charge d'affaires in Poland, told Russia's state-owned RIA news agency.

"Russia is absolutely not interested in any escalation with Poland, but, unfortunately, we cannot count on the Polish authorities listening to us in their anti-Russian frenzy," Ordash said.

In late 2022, a missile struck Polish territory in the village of Przewodów, near the country's border with Ukraine, killing two people. It was believed to have been fired by Ukrainian air defense forces to repel a Russian attack, while NATO at the said time that Russian forces were ultimately to blame.

In a state of the union speech on Wednesday morning, European Commission President Ursula von der Leyen condemned Russia's "reckless and unprecedented" incursion into Poland's airspace and said that Europe "stands in full solidarity" with Warsaw.

Her comments prompted a standing ovation from European lawmakers.

"Putin's message is clear. And our response must be clear too," von der Leyen said. "We need more pressure on Russia to come to the negotiating table. We need more sanctions. We are now working on the 19th package in coordination with partners."

Von der Leyen said the 27-nation bloc was looking at phasing out Russian fossil fuels faster, noting that the EU was also looking at the country's "shadow fleet and at third countries," as well as at further support for Ukraine.

French President Emmanuel Macron, Italian Prime Minister Giorgia Meloni and Latvian President Edgars Rinkēvičs were among the European leaders who expressed solidarity with Poland after the country shot down Russian drones in its airspace.

Macron called the incursion "simply unacceptable" and condemned it "in the strongest terms."

Hungarian Prime Minister Viktor Orban, widely regarded as Putin's greatest European ally, said "the violation of Poland's territorial integrity is unacceptable."

In a social media post, Orban said the eastern European country, which shares a border with Ukraine, supports the Trump administration's efforts to achieve peace in the Russia-Ukraine war.

Read the full story at CNBC.


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