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By CHRISTOPHER RUGABER, AP Economics Writer

President Donald Trump is badgering the Federal Reserve to cut interest rates, but even if the Fed gave in to the pressure, it wouldn’t necessarily lead to lower borrowing costs for consumers.

In fact, economists say, Trump’s ongoing attacks on Fed Chair Jerome Powell and his tariff policies could keep the longer-term interest rates that matter for consumers and businesses higher than they otherwise would be. A less-independent Fed can lead, over time, to higher borrowing costs, as investors worry that inflation may spike in the future. As a result they demand higher yields to own Treasury securities.

Trump has repeatedly urged Powell to cut the short-term interest rate that the central bank controls. The Fed typically reduces its rate during an economic downturn to encourage more borrowing and spending, and raises it to cool the economy and fight inflation when prices rise.

But long-term rates on things like mortgages, auto loans, and credit cards are largely set by market forces. And in recent weeks, fears that Trump’s sweeping tariffs could raise inflation, along with the administration’s threats to the Fed’s independence, have led markets to push those longer term rates higher. It’s not clear that the Fed can fully reverse those trends by itself. read more

By JOSH BOAK

WASHINGTON (AP) — President Donald Trump can’t stop contradicting himself on his own tariff plans.

He says he’s on a path to cut several new trade deals in a few weeks — but has also suggested it’s “physically impossible” to hold all the needed meetings.

Trump has said he will simply set new tariff rates negotiated internally within the U.S. government over the next few weeks — although he already did that on his April 2 “Liberation Day,” which caused the world economy to shudder.

The Republican president says he’s actively negotiating with the Chinese government on tariffs — while the Chinese and U.S. Treasury Secretary Scott Bessent have said talks have yet to start.

What should one believe? The sure bet is that uncertainty will persist in ways that employers and consumers alike expect to damage the economy and that leave foreign leaders scratching their heads in bewilderment.

And the consequences of all this tariffs turmoil are enormous.

Trump placed tariffs totaling 145% on China, leading China to retaliate with tariffs of 125% on the U.S. — essentially triggering a trade war between the world’s two largest economies with the potential to bring on a recession. read more

Ticket sales for Epic Universe theme park and related hotel bookings are “a little ahead of our expectations,” Comcast Corp. president Mike Cavanagh said during the company’s quarterly earnings call this week. The resort is well-positioned, officials said, despite reports of international travel anxiety.

Comcast is the parent company of Universal Orlando, which is adding Epic to its lineup. The theme park’s grand opening is set for May 22.

“We have seen strong demand since launching Epic ticket sales in the fourth quarter of 2024, and the most recent reaction to early previews has been nothing short of phenomenal,” Cavanagh said.

Epic Universe preview: An early walk (and rides) in the park

Comcast’s theme park revenue was down 5.2% for the first quarter from a year earlier, and operating expenses were up 7.5%.  In the ramp-up to Epic’s opening there were about $100 million in incremental costs, as anticipated, chief financial officer Jason Armstrong said.

“Looking past these pre-opening costs, underlying results in the quarter indicated stable trends in Orlando, giving us confidence that we are entering the Epic launch from a position of strength,” Armstrong said. read more

After a successful test from Cape Canaveral Space Force Station last December, the Army on Thursday officially named its long-range hypersonic weapon “Dark Eagle.” The system designed to “disintegrate adversary capabilities” was at it again Friday morning.

Liftoff of the LRHW Dark Eagle this morning https://t.co/lCJhUXxT84 pic.twitter.com/YJXXuSxmJK

— Jerry Pike (@JerryPikePhoto) April 25, 2025

Images posted to social media showed the missile launch from Canaveral’s Space Launch Complex 46 while the Eastern Range had posted maritime and airspace keep-out notices, although no details about the mission had been announced.

“A combined team of government, academic and industry partners conducted a test on behalf of the Department of Defense from a test site at Cape Canaveral Space Force Station,” according to an emailed statement from the Office of the Secretary of Defense. “We are currently evaluating the results of the test.”

Shortly after liftoff, the vehicle split into two distinct sections, with one appearing to tumble away, and the other continuing to propel itself forward until it disappeared into the sky pic.twitter.com/Fa75Zdenr1 read more

By BERNARD CONDON, Associated Press Business Writer

NEW YORK (AP) — The Trump administration is loosening rules to help U.S. automakers like Elon Musk’s Tesla develop self-driving cars so they can take on Chinese rivals.

U.S. companies developing self-driving cars will be allowed exemptions from certain federal safety rules for testing purposes, the Transportation Department said Thursday. The department also said it will streamline crash reporting requirements involving self-driving software that Musk has criticized as onerous and will move toward a single set of national rules for the technology to replace a patchwork of state regulations.

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