IRAN FOREVER WAR? | D.C. Daily

The warning this morning, the U.S. is warning allies that an intense military campaign against Iran is coming. Today marks eight months of the war with Iran that President Trump originally said would last four weeks. Israel and the U.S. forces reportedly warning allies in the Middle East that new strikes will be launched against Iran after next week's midterm election. Numbers from the Pentagon show the war has cost more than $47 billion since the February 28th attack, costing the average American family about $2,000 over the last eight months. Is another interest rate hike coming days before the midterm election? We'll find out today when the Federal Reserve makes its interest rate announcement. Inflation is now at 3.7 percent. That is nearly double the Federal Reserve's goal of 2 percent. But analysts are expecting the Fed will hold the rate for now. The central bank meets one more time this year, and Fed Chair Kevin Warsh has already signaled another rate hike is coming before 2027. The next and last rate announcement this year comes in December. President Trump is making changes to his own tariffs on Canadian imports. Starting Friday, that 50% tariff will no longer apply to plywood, industrial machinery, or paper. But the president is adding tariffs to other Canadian goods like cocoa powder, carpets, and air conditioners. Both countries say a deal may be coming to lower the president's 50 percent tariff on Canadian steel and 25 percent tariff on cars. A Fox News poll this month shows nearly 70 percent of American voters do not approve of the president's tariff policy.