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U.S. President Donald Trump speaks to members of the press as he arrives at Charlotte Douglas International Airport, while he travels to attend a campaign rally supporting Republican U.S. Senate candidate Michael Whatley, in Charlotte, North Carolina, U.S., Sept. 16, 2026.
Kevin Lamarque | Reuters Hello, this is Leonie Kidd coming to you from London. Welcome to another edition of CNBC's Daily Open. The word of the day — hostile.
President Trump has used it to describe both the Federal Reserve board and the EU's move to name Canada as an "associate member" of the bloc. After a knee-jerk reaction to the downside, stocks stateside look set to recover some of those losses on Thursday, with a broadly positive handover from global equities. Read on for more.
What you need to know today The Federal Reserve delivered a hawkish hike on Wednesday, but Chair Kevin Warsh still seems to be sending dovish signals to U.S. President Donald Trump. The central bank raised rates by 25 basis points in the first hike since 2023.
But Trump's comments following the announcement raised further questions about Fed independence. "I'm relying on Kevin, but he's got, you know, a very tough board, he's got a board that was put there by other people," Trump said. "And I told, I talked to Kevin, and I said, 'You might as well vote with the board.
It's not going to matter.'" Trump called the other Fed governors "very hostile, very political." Not one and done In the press conference following the decision, Warsh said inflation was still too high, indicating the central bank could consider further hikes later this year. Bond investing titan Jeff Gundlach told CNBC the Fed should have gone further this meeting, with a "stun and done" approach to hikes. You can watch that full interview here .
Up next: BOE and BOJ Blame Canada President Trump has branded the European Union's invitation to Canada to become an Associate Member a "hostile act." On Wednesday, he threatened to impose further tariffs on Europe or halt trade with the bloc entirely. "I think it's laughable ... Canada has been a terrible trade partner," Trump told reporters after landing in North Carolina.
He warned European leaders that "if I think it's at all a hostile act, I will put very serious tariffs or stop trading with Europe on many things." Oil oscillations And Finally... Putin braces for election stress test as Russians ‘feel the pain’ of struggling economy Russian President Vladimir Putin is bracing for a wartime reckoning as the Kremlin prepares to hold its first parliamentary election since the country's full-scale invasion of Ukraine in early 2022. The tightly controlled vote, which takes place over a three-day period from Friday to Sunday, is widely expected to shore up the dominance of the ruling United Russia party in the 450-seat State Duma, the lower house of parliament.
While the result is not in doubt, external observers will be paying close attention to voter turnout and the margin of United Russia's victory for any signs of public discontent after more than four-and-a-half years of war. — Sam Meredith, Anniek Bao
Source: CNBC
