Fed hikes interest rates amid ‘geopolitical developments’

Welcome to the daily Inside Scoop newsletter. The Federal Reserve has decided to increase interest rates. How is this going down with the president? Is it a problem of his own making? Plus, Robert Kraft, Ed Sheeran and Macklemore are all tied up in a battle of pro-Palestinian statements made by the rapper. I break down the feud and the fallout in my texts. Let’s get into it. The Federal Reserve hiked interest rates this afternoon in an effort to temper rising inflation, citing “geopolitical developments” as a driver of the economic uncertainty it hoped to mitigate.