Key Takeaways
- President Trump issued a direct demand to Vladimir Putin to "settle the war" during an arrival at the UN General Assembly, signaling intensifying pressure for a diplomatic resolution.
- Boston Fed President Susan Collins (2028 Voter) backed last week’s 25-basis-point rate hike, citing an increased likelihood that inflation will remain "notably above 2%."
- The Federal Reserve's benchmark rate now sits at 3.75%-4.00%, with Collins suggesting one additional hike may be necessary before the end of 2026.
- Trump escalated his feud with mainstream media, claiming outlets like CNN (WBD) "shouldn't be covering him" following a controversial ban on several news organizations from the White House.
Trump Demands Peace Settlement at United Nations
President Donald Trump arrived at the United Nations headquarters in New York today with a blunt message for Russian President Vladimir Putin: "Settle the war." The comment, delivered as the President entered the assembly, marks a shift toward more public, direct pressure on the Kremlin to conclude the conflict in Ukraine.
The administration has reportedly been exploring a "carrot-and-stick" approach, which includes both sweeping new sanctions and potential "mutually beneficial" business deals to entice the Russian elite toward a ceasefire. This diplomatic push comes as Ukraine continues a long-range strike campaign against Russian energy infrastructure, including a massive drone strike on the Gazpromneft-Moscow Oil Refinery that reportedly knocked out 14% of Russia's refining capacity.
Fed’s Collins Signals "Higher for Longer" Stance
On the economic front, Federal Reserve Bank of Boston President Susan Collins provided a hawkish outlook on monetary policy. Collins confirmed her support for the Fed's decision last Wednesday to raise the federal funds rate by a quarter-point to a range of 3.75%-4.00%. She noted that she has not seen the "inflation progress" she was hoping for, particularly as geopolitical tensions in the Middle East and the ongoing war in Ukraine continue to pressure energy prices.
Collins warned of an "increased likelihood" of future scenarios where inflation stays durably above the Fed's 2% target. To combat this, she argued that a "somewhat more restrictive" rate will be necessary to ensure price stability. While she expects the Fed may hold rates steady throughout 2027, she indicated that at least one more rate hike remains on the table for the remainder of 2026.
Media Tensions Escalate Amid White House Ban
The President also took aim at the press during his UN appearance, specifically targeting CNN (WBD). Trump’s remarks that the network "shouldn't be covering him" follow a weekend where his administration moved to revoke the credentials of reporters from CNN, MS NOW, and Politico.
The ban has sparked a significant legal and professional backlash, with major news organizations filing a lawsuit in federal district court alleging violations of the First Amendment. In response to the move, several television networks have reportedly halted pool video coverage of the President's activities, deepening the divide between the White House and the national media corps.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.