The Federal Reserve has dropped its bias towards lowering rates in the central bank’s first meeting chaired by Kevin Warsh, President Donald Trump said the US would release frozen Iranian funds, and UK inflation held unexpectedly steady last month. Plus, Chinese tech giant Huawei is making a huge comeback after being written off seven years ago.

Mentioned in this podcast:

Federal Reserve drops bias for rate cuts as Kevin Warsh era begins

Donald Trump to release Iran’s frozen funds and ease sanctions when ‘they behave’

Huawei’s big comeback tests limits of US chip controls

UK inflation unexpectedly holds steady at 2.8% in May

Five things to know about the high-stakes Makerfield by-election

CREDIT: C-SPAN

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The FT News Briefing is produced by Victoria Craig, Sonja Hutson, Saffeya Ahmed, Katya Kumkova, and Fiona Symon. Our editor is Marc Filippino. Our show is mixed by Kelly Garry and Alex Higgins. Additional help from Gavin Kallmann, Michael Lello, Peter Barber and David da Silva. Our intern is Cole van Miltenburg. Our executive producer is Topher Forhecz. Flo Phillips is the FT’s global head of audio. The show’s theme music is by Metaphor Music.

Read a transcript of this episode on FT.com

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