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Story summary
- U.S. President Donald Trump renewed attacks on the Federal Reserve after it raised the benchmark rate on Wednesday.
- The Federal Reserve lifted its benchmark rate to 3.9%, pushing the 10-year Treasury yield above 5% this year.
- Fed Chair Kevin Warsh said AI-related infrastructure spending is fueling the economy’s expansion.
- Average 30-year mortgage rates hit 6.95% last week, the highest in over a year and a half.