By Vivian "The Ticker" Dow
Market-moving news was dominated by monetary policy on Thursday. According to CBS News — the only outlet to report the rate increase at the time of publication — the Federal Reserve raised interest rates for the first time since July 2023; the Press could not independently confirm the move through the Fed or other news organizations.
The move drew an immediate and pointed reaction from President Trump, who told reporters the central bank's board — not his own pick for Fed Chair, Kevin Warsh — was to blame for the hike. "I'm relying on Kevin, but he's got a very tough board," Trump said, per The Hill and NBC News, adding that he believes interest rates should be at "1% or less." The comments underscore a widening rift between the White House and the central bank's rate-setting committee even as Trump publicly backs Warsh's leadership.
On Capitol Hill, the House passed bipartisan legislation aimed at shielding households from rising electricity costs tied to the AI-driven data center boom, CBS News and NBC News reported. The bill would direct state regulators to consider — though not require — rules making data centers cover a greater share of the higher energy costs they impose on the grid, according to the New York Times. The measure reflects growing political pressure on lawmakers from both parties to respond to consumer complaints about utility bills as tech companies race to build out AI infrastructure.
In corporate news, restaurant chain O'Charley's appears to be shutting down its remaining locations, according to WPTA/21Alive. That is currently the only outlet reporting the closures, and the Press has not independently confirmed the move with the company; if it holds up, it's the latest sign of continued strain in the casual dining sector.
On the technology front, Snap unveiled a new AI assistant, "Specs Intelligence," for its $2,200 smart glasses, expanding to iOS and Mac, The Verge reported, as the company pushes further into augmented reality and competes with AI assistants from Meta and Google. Separately, Snap CEO Evan Spiegel told the BBC the company would be "willing to implement" daily time limits for teen users, a potential shift that could carry implications for engagement-driven ad revenue in the social media sector.
Beyond these threads, today's news flow was light on broad market data, with no index levels or trading figures reported in today's coverage.
Somebody's paying for this. Let's find out who.
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