Live updates: Fed to tackle interest rates as inflation fuels hike buzz; Trump to rally NC voters

President Trump will rejoin the campaign trail Wednesday evening, traveling to North Carolina to rally support for GOP Senate candidate Michael Whatley, who formerly chaired the Republican National Committee.

Recent polls placed the Republican hopeful behind his Democratic opponent, former North Carolina Gov. Roy Cooper. Whatley received Trump’s blessing to pursue the Tar Heel State’s open Senate seat back in 2025, after the president’s daughter in law — Lara Trump — decided not to make a bid for the seat.

Whatley also joined other GOP candidates, lawmakers and officials at the party’s inaugural midterm convention last week.

Meanwhile, both chambers of Congress have a schedule packed with hearings as the House prepares for another recess. Lawmakers will hear from officials about a range of national security issues — including the evolution of counterterrorism in the 25 years post-9/11, securing U.S. leadership in the global biotechnology race and competition with China.

The Senate will speak with several nominees Trump tapped for leadership roles across federal public health regulatory agencies. One of these hearings will feature Nicole Saphier, the president’s third nominee for surgeon general.

The Federal Reserve board will address interest rates Wednesday afternoon. The central bank is expected to hike its rates amid rising inflation and the growing economic toll of the Iran war.