Federal Reserve Interest Rates, Reports Reveal Iran War Costs, Kennedy Center Closure

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The Federal Reserve is expected to raise interest rates for the first time in three years as the Iran war pushes inflation higher and borrowing costs are already climbing.<br>Two new government reports put the cost of the Iran war at more than $30 billion and reveal extensive damage to U.S. bases and growing strain on key weapons stockpiles.<br>The Kennedy Center board voted to close the building for renovations after a federal judge again blocked President Trump’s name from being added, while Trump says he will not move ahead unless that changes.<br/><br/><em>Want more analysis of the most important news of the day, plus a little fun? </em><a href="https://www.npr.org/newsletter/news"target="_blank" >Subscribe</a><em> to the Up First newsletter.</em><br/><br/>Support public media with NPR+ and enjoy perks for over 25 podcasts like this one. This show’s perks include sponsor-free listening. Learn more at <a href="http://plus.npr.org/"target="_blank" >plus.npr.org</a>.<br/><br/>Today’s episode of Up First was edited by Rafael Nam, Andrew Sussman, Steve Drummond, Mohamad ElBardicy, and Alice Woelfle.<br/><br/>It was produced by Ziad Buchh and Nia Dumas.<br/><br/>Our director is Christopher Thomas.<br/><br/>We get engineering support from Zac Coleman.<br/><br/>Our technical director is Carleigh Strange.<br/><br/>And our Supervising Producer is Michael Lipkin.<br/><br/>(0:00) Introduction<br>(01:54) Federal Reserve Interest Rates<br>(05:29) Reports Reveal Iran War Costs<br>(09:36) Kennedy Center Closure<br/><br/>See <a href="https://pcm.adswizz.com">pcm.adswizz.com</a> for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences.<br/><br/><a href="https://www.npr.org/about-npr/179878450/privacy-policy">NPR Privacy Policy</a>