Latest news with #MustangMach-Es
The Hill
15 hours ago
- Business
- The Hill
Powell faces House pressure
The Big Story Federal Reserve Chair Jerome Powell is in no hurry to lower interest rates despite months of pressure from President Trump, he told lawmakers Tuesday. © Greg Nash Testifying before the House Financial Services Committee on Tuesday, Powell stood by recent statements that the Fed will react to changes in the data as they come in, as opposed to following a predetermined path on monetary policy. During testimony, Powell acknowledged that there was some disagreement about the path of rate reduction among members of the rate-setting committee. 'There's a significant minority that doesn't agree, but a significant majority feels that it will be appropriate to reduce rates later this year,' Powell said. The Fed's most recent dot plot for 2025 interest rates, which shows the spread of different views among central bankers, shows that there are nine members of the committee who think that rates for this year should be between 4 and 4.5 percent while 10 members think they should be between 3.5 and 4 percent. The federal funds rate was projected earlier this month to reach 3.9 percent this year — the same projection as in March — which would require two standard rate cuts of 0.25 percentage points. ''Too Late' Jerome Powell, of the Fed, will be in Congress today in order to explain, among other things, why he is refusing to lower the rate. Europe has had 10 cuts, we have had zero,' Trump wrote on social media Tuesday. So far, tariffs from Trump's trade war have not made a significant impact on inflation. But Powell said Tuesday he expects inflation to increase over the summer. The Hill's Tobias Burns has more here. Welcome to The Hill's Business & Economy newsletter, I'm Aris Folley — covering the intersection of Wall Street and Pennsylvania Avenue. Did someone forward you this newsletter? Subscribe here. Essential Reads Key business and economic news with implications this week and beyond: Ford recalls 197,000 cars over issue that can trap passengers Ford has recalled more than 197,000 Mustang Mach-Es because of an issue that can leave passengers trapped inside vehicles. Anthropic wins ruling on AI training in copyright lawsuit but must face trial on pirated books In a test case for the artificial intelligence industry, a federal judge has ruled that AI company Anthropic didn't break the law by training its chatbot Claude on millions of copyrighted books. Hassett vows trade deals coming after GOP megabill passes White House National Economic Council Director Kevin Hassett said Tuesday the administration is waiting to announce trade deals until after President Trump's megabill passes Congress, which the president is pressuring Republicans to do by the Fourth of July recess. Tax Watch House GOP moderates tell leadership they won't back Senate tax bill over Medicaid cuts More than a dozen House Republicans warned they won't support the Senate's version of the tax and spending bill because the proposed Medicaid cuts are too steep. Led by Rep. David Valadao (R-Calif.), 15 other vulnerable Republicans sent a letter to Senate Majority Leader John Thune (R-S.D.) and House Speaker Mike Johnson (R-La.) saying they support the Medicaid reforms in the House version of the legislation, but the Senate Finance Committee proposal went too far. 'Protecting Medicaid is essential for the vulnerable constituents we were elected to represent. Therefore, we cannot support a final bill that threatens access to coverage or jeopardizes the stability of our hospitals and providers,' the lawmakers wrote. 'The House's approach reflects a more pragmatic and compassionate standard, and we urge that it be retained in the final bill.' The Senate Finance Committee draft seeks to clamp down on two tactics states use to boost Medicaid funding to hospitals: state-directed payments and Medicaid provider taxes. The restrictions are a major concern for rural hospitals, a key constituency for senators. Republicans have set an ambitious July 4 deadline to pass the bill and send it to President Trump to be signed into law. The Hill's Alexander Bolton has more here. Tax Watch is a regular feature focused on the fight over tax reform and extending the 2017 Trump tax cuts this year. Email a tip The Ticker Upcoming news themes and events we're watching: In Other News Branch out with more stories from the day: Systemic failures led to a door plug flying off a Boeing 737 Max, NTSB says The heroic actions by the crew of Alaska Airlines flight 1282 ensured everyone survived last year … Good to Know Business and economic news we've flagged from other outlets: What Others are Reading Top stories on The Hill right now: House torpedoes Rep. Al Green's effort to impeach Trump over Iran strikes The House on Tuesday overwhelmingly torpedoed an effort by Rep. Al Green (D-Texas) to impeach President Trump over the U.S. strikes on Iran, underscoring how little appetite Democrats have to try and oust the president despite their frustration with the weekend attack. Read more Democrat tells RFK Jr.: 'You lied to Sen. Cassidy' Rep. Kim Schrier (D-Wash.) accused Health and Human Services (HHS) Secretary Robert F. Kennedy Jr. of lying to Sen. Bill Cassidy (R-La.) when he told the senator he would maintain a key federal vaccine advisory committee 'without changes.' Read more What People Think Opinions related to business and economic issues submitted to The Hill: You're all caught up. See you tomorrow!
The Hill
15 hours ago
- Automotive
- The Hill
Media Matters fights back against FTC
The Big Story Media Matters for America sued the Federal Trade Commission (FTC) on Monday to block the agency's investigation into the progressive media watchdog group, arguing the probe amounts to unlawful retaliation. © AP Photo/Alex Brandon, File The group received a request from the FTC last month for documents and communications related to several advertising and watchdog groups, as well as its legal battle with Elon Musk's social platform X. 'Media Matters faces an ongoing campaign of retribution for exercising its First Amendment rights,' the lawsuit reads. 'For the third time, Media Matters must ask this Court to halt this 'government campaign of retaliation.'' X sued the watchdog group in 2023 over a report that outlined how the social media site had placed ads for mainstream brands next to hateful content. The report, combined with controversial comments from Musk at the time, prompted advertisers to halt their spending on the platform. Texas and Missouri followed suit, opening investigations into Media Matters and requesting documents from the group that were later blocked in court. 'Now the Federal Trade Commission seeks to punish Media Matters for its journalism and speech in exposing matters of substantial public concern,' the group wrote in its complaint. 'The campaign of retribution against Media Matters must stop.' Media Matters argues the FTC's request is 'overbroad and designed to be maximally burdensome. The FTC did not immediately respond to The Hill's request for comment. Read more at Welcome to The Hill's Technology newsletter, we're Miranda Nazzaro and Julia Shapero — tracking the latest moves from Capitol Hill to Silicon Valley. Did someone forward you this newsletter? Subscribe here. Essential Reads How policy will be impacting the tech sector now and in the future: Ford recalls 197,000 cars over issue that can trap passengers Ford has recalled more than 197,000 Mustang Mach-Es because of an issue that can leave passengers trapped inside vehicles. The hazard affecting model years 2021-2025 is especially dangerous for children, who could end up stuck in the back seat during extreme heat, according to the National Highway Traffic Safety Administration (NHTSA). The issue affects door latches inside the electric vehicles. If the car's battery gets … Anthropic wins ruling on AI training in copyright lawsuit but must face trial on pirated books In a test case for the artificial intelligence industry, a federal judge has ruled that AI company Anthropic didn't break the law by training its chatbot Claude on millions of copyrighted books. But the company is still on the hook and must now go to trial over how it acquired those books by downloading them from online 'shadow libraries' of pirated copies. U.S. District Judge William Alsup of San Francisco said in a ruling … WhatsApp banned on House staffer devices Messaging app WhatsApp has been banned on congressional staffers' government devices, the House's chief administrative officer confirmed Monday. 'Protecting the People's House is our topmost priority, and we are always monitoring and analyzing for potential cybersecurity risks that could endanger the data of House Members and staff,' Chief Administrative Officer Catherine Szpindor said in a statement … The Refresh News we've flagged from the intersection of tech and other topics: Crypto Corner Senate takes steps toward market structure bill © Greg Nash Welcome to Crypto Corner, a daily feature focused on digital currency and its outlook in Washington. The Senate is slowly but surely taking steps toward making its market structure bill a reality. Sens. Tim Scott (R-S.C.), Cynthia Lummis (R-Wyo.), Thom Tillis (R-N.C.) and Bill Hagerty (R-Tenn.) released a set of 'principles' Tuesday to guide the development of legislation that seeks to divvy up oversight of the digital asset market. This includes: The principles are meant to serve as 'an important baseline for negotiations on this bill,' said Scott, who serves as chair of the Senate Banking Committee. 'I'm hopeful my colleagues will put politics aside and provide long-overdue clarity for digital asset regulation,' he added. The movement on market structure legislation comes after the Senate passed the GENIUS Act last week, which aims to create a regulatory framework for payment stablecoins. The Trump administration and GOP lawmakers have made passing stablecoin and market structure legislation a key priority, with hopes of getting both across the finish line by August. The Hill Jobs Interested in exploring a new career? Visit The Hill Jobs Board to discover millions of roles worldwide, including: Director of Government and Political Affairs — National Mining Association, Washington, D.C. Apply Federal Policy Director — AAHOA, Washington, D.C. Apply Deputy Policy Director — U.S. Global Leadership Coalition (USGLC), Washington, D.C. Apply Partner, Government Relations — Forward Global, Washington, D.C. Apply Click here to get your job mentioned What Others are Reading Two key stories on The Hill right now: Trump's 'both sides' approach to Israel, Iran comes into question President Trump's strategy of playing both sides is coming into question as he fumed over Israel and Iran's continued fighting while demanding peace … Read more House torpedoes Rep. Al Green's effort to impeach Trump over Iran strikes The House on Tuesday overwhelmingly torpedoed an effort by Rep. Al Green (D-Texas) to impeach President Trump over the U.S. strikes on Iran, underscoring … Read more What Others are Reading Opinions related to tech submitted to The Hill: You're all caught up. See you tomorrow! Thank you for signing up! Subscribe to more newsletters here
The Hill
20 hours ago
- Automotive
- The Hill
Ford recalls 197,000 cars over issue that can trap passengers
Ford has recalled more than 197,000 Mustang Mach-Es because of an issue that can leave passengers trapped inside vehicles. The hazard affecting model years 2021-2025 is especially dangerous for children, who could end up stuck in the back seat during extreme heat, according to the National Highway Traffic Safety Administration (NHTSA). The issue affects door latches inside the electric vehicles. If the car's battery gets too low, the electronic door latches could remain locked once a driver or front passenger exits the car and shuts the door. Passengers in the back seat, including children, could get trapped inside if they're unable to unlock the door manually using the inside door release handles. The auto giant warned this inability to enter or exit the vehicle in an emergency increases the risk of injury. As a result, Ford recalled a total of 197,432 Mach-Es in the U.S. and 120,000 in international markets. No injuries have been reported so far and a software update will fix the issue, a spokesperson told CBS News. Ford sent letters to affected drivers on June 23 and will send out a second round of letters once the software upgrade is available. Drivers will need to visit a dealer to update their Powertrain Control Module and the Secondary On-Board Diagnostic Control Module C software free of charge. Anyone with questions was urged to contact Ford customer service at 1-866-436-7332 (recall number 25S65) or NHTSA's Vehicle Safety Hotline at 1-888-327-4236. The Mach-E recall comes after the company recalled more than 1 million Ford and Lincoln vehicles in May due to concerns over their rearview cameras. It also recalled an additional 274,000 Expedition and Lincoln-branded Navigator SUVs across the U.S. due to a brake issue that increased the risk of a crash.
Miami Herald
18-06-2025
- Automotive
- Miami Herald
Ford orders dealers not to deliver Mustang Mach-Es over lockout recall
Ford Motor Co. has ordered its dealers not to deliver more than 320,000 all-electric Mustang Mach-E SUVs over an issue that can cause lockouts and entrapment. The Dearborn automaker is recalling approximately 207,181 model year 2021-2025 Mustang Mach-Es in the United States and another 120,000 internationally. In a notice of the safety recall dated Monday from Ford to dealers obtained by The Detroit News, the company orders its retailers not to demonstrate or deliver 2021-2025 model year Mach-Es until a fix is complete. A software update is coming soon to address this recall, Ford spokesperson Mike Levine said in a statement. An unexpected discharge of the vehicle's 12-volt battery under certain conditions can cause the front-door electronic latches to retain their last lock or unlocked status, according to the notice. If a driver or front passenger exits the front doors with the mechanical release inside, the doors can remain locked when closed, causing a lockout. If a child, animal or other occupant is left in the vehicle and unable to exit themselves, the situation could result in serious injury, particularly in hot weather. Ford, however, isn't aware of any reports of accident or injury related to this condition. Quality and warranty issues have been a major focus for the automaker in addressing its bloated cost structure in comparison to even crosstown rivals like General Motors Co. Andrew Frick, CEO of Ford's Ford Blue international combustion engine and Model e electric divisions, last week at the Deutsche Bank Conference highlighted double-digit quality improvements. U.S. sales of the Mach-E rose 11% in May and are up 2.8% in 2025 so far, benefitting from the automaker's "From America, For America" employee discount pricing offer and "Ford Power Promise" that covers the cost for EV buyers of a Level 2 home charger and its standard installation. The company disclosed early this month that its May gross stock of the SUV was 13,400 vehicles. Supply at the start of June was 82 days, according to auto information website Inc. Ford imports the Mach-E from Mexico, which means it now faces a 25% tariff imposed by the Trump administration. As a result, the automaker last month said it was raising the manufacturer's suggested price on the Mach-E by up to $2,000, with certain options also seeing an increase. The recall was unwelcome news for dealers like Jim Seavitt, owner of Village Ford in Dearborn, who has dozens of Mach-Es on his lot. "I was not happy to see that," he said, adding about the Mach-E: "It's been a good deal. If they can find a solution by early July, that would be good." Copyright (C) 2025, Tribune Content Agency, LLC. Portions copyrighted by the respective providers.
