Morning Headlines: September 17, 2026

Federal Reserve Prepares First Rate Hike Since 2023

Economists expect the Federal Reserve to raise borrowing costs on Wednesday as part of an effort to manage persistent inflation. This move comes as 10-year Treasury yields hit 5%, their highest levels since 2007, potentially straining the financial system's most vulnerable sectors.

U.S. Faces Deadliest Measles Year in Decades

An 18-year-old in Pennsylvania has become the fourth person in the state to die from measles-associated complications. The U.S. is currently navigating its worst measles year since 1991, with new cases recently identified in Marathon County, Wisconsin, as vaccination gaps continue to pose a public health risk.

California Wealth Tax Holds Slim Lead in Polls

A new Politico poll shows a proposed tax on billionaires is maintaining a narrow lead among California voters. The measure is one of three rival proposals on the ballot, highlighting a intensifying debate over wealth inequality and state revenue.

Senate Crypto Bill Fails to Advance

Bipartisan efforts to regulate the cryptocurrency industry have stalled in the Senate, effectively dooming legislation for this Congress. Democrats voiced concerns that the bill did not sufficiently address potential conflicts of interest regarding President Trump’s personal cryptocurrency ventures.

Trump Reshapes Federal Institutions

The Trump-aligned board of the Kennedy Center has voted to close the building for restoration, proposing to move marquee events off-site. Meanwhile, FBI Director Kash Patel defended a controversial decision to remove bestiality as an automatic disqualifier for applicants, citing protections for trafficking victims.

What to watch next

Watch for the Federal Reserve's official announcement later today, which will set the tone for market stability and consumer borrowing costs through the fall.