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Live from NPR News, I'm Korva Coleman. Federal Reserve Chair Jerome Powell spoke this morning at a key economic policy summit in Wyoming. He suggested the central bank could be open to interest rate cuts, but he didn't specify when Powell also talked about inflation. He says President Trump's tariffs have started to increase the cost of some imported goods.
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The effects of tariffs on consumer prices are now clearly visible. We expect those effects to accumulate over coming months with high uncertainty about both timing and amounts. The question that matters for monetary policy is whether these price increases are likely to materially raise the risk of an ongoing inflation problem.
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Separately, President Trump said today he'll seek to fire one of the Federal Reserve's policymakers. Fed Governor Lisa Cook, a member of Trump's administration, has accused Cook of mortgage fraud, but no evidence has been provided. The FBI has searched the home of former national Security adviser John Bolton. NPR's Kerry Johnson reports Bolton has become a sharp critic of President Trump.
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The FBI says it pursued court authorized activity at Bolton's Maryland home as Director Kash Patel posted on social media, no one is above the law. Bolton had worked on national security issues for about a year during the first Trump administration, but he later criticized Trump in a tell all book. The president's allies have since raised questions about Bolton's handling of classified documents, which Bolton describes as retaliation. This year, the Trump administration yanked Bolton's security detail, which was in place because of threats from Iran. The president told reporters he knew nothing about the FBI search and said Bolton could be a, quote, very unpatriotic guy. Carrie Johnson, NPR News, Washington.
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The Israeli military is ordering hospitals to prepare to evacuate patients and equipment from north Gaza in the midst of its planned assault on Gaza City. A Gaza official calls this a death sentence for patients. NPR's Jane Araf has more.
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In a recording released by the Israeli military, an Israeli officer tells a Gaza health official that they will force everyone to leave Gaza City in the north and that hospitals need to prepare to transfer operations to the south Gaza Strip. The health official tells them that the UN and international medical aid groups have informed them they have no room in the south and that ICU patients and infants and incubators will be at risk. Gaza's health ministry director, Munir El Bursh later described the demand as a field execution order against patients too sick or wounded to be transferred. Gaza's healthcare system has collapsed amid ongoing Israeli strikes, with remaining hospitals operating at up to 300% capacity. Jane Araf, NPR News, Aman.
