Higher interest rates are inflating borrowing costs as the Trump administration spends on the Iran war and tariff refunds.

© The New York Times

Higher interest rates are inflating borrowing costs as the Trump administration spends on the Iran war and tariff refunds.

© The New York Times

In the contrarian logic of investing, rising interest rates have made bonds much more attractive, our columnist says.

© Carlos Miranda

The Federal Reserve chairman stuck to his pledge to avoid providing guidance about the path forward for interest rates, but did nothing to convey an urgency to raise them later this month.

© Athit Perawongmetha/Reuters