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Fed keeps interest rate unchanged
Powell sticks with patient approach to cuts, brushing off Trump’s demands BY CHRISTOPHER RUGABER
fifth time this year, at about 4.3%, as was expected. But Powell also signaled that it could take months WASHINGTON — Federal Reserve for the Fed to determine whether Chair Jerome Powell gave little in- Trump’s sweeping tariffs will push dication on Wednesday of bowing up inflation temporarily or lead to anytime soon to President Donald a more persistent bout of higher Trump’s frequent demands that he prices. His comments suggest that cut interest rates, even as signs of a rate cut in September, which had dissent emerged on the Fed’s gov- been expected by some economists and investors, is now less likely. erning board. “We’ve learned that the process The Fed left its key short-term interest rate unchanged for the will probably be slower than ex-
AP economics writer
pected,” Powell said. “We think we have a long way to go to really understand exactly how” the tariffs will affect inflation and the economy. There were some signs of splits in the Fed’s ranks: Powell Governors Christopher Waller and Michelle Bowman voted to reduce borrowing
costs, while nine officials, including Powell, favored standing pat. It is the first time in more than three decades that two of the seven Washington-based governors have dissented. One official, Gov. Adriana Kugler, was absent and didn’t vote. The choice to hold off on a rate cut will almost certainly result in further conflict between the Fed and White House, as Trump has repeatedly demanded that
the central bank reduce borrowing costs as part of his effort to assert control over one of the few remaining independent federal agencies. Powell has in the past signaled during a news conference that a rate move might be on the table for an upcoming meeting, but he gave no such hints this time. The odds of a rate cut in September, according to futures pricing, fell from nearly 60% before the meeting to just 45% after the news
ä See FED, page 6A
BACK TO WORK
LSU football off and running as preseason practice begins
STAFF PHOTO By BRAD BOWIE
Joseph Savoie served as president of the University of Louisiana at Lafayette for 17 years.
Longtime UL head Savoie resigns
Provost Hebert named interim president BY MEGAN WYATT and ASHLEY WHITE Staff writers
STAFF PHOTO By JAVIER GALLEGOS
Quarterback Garrett Nussmeier gets hit by a pad as part of a drill during the first day of practice for the LSU football team at the indoor facility on Wednesday. Nussmeier and the Tigers provided a glimpse of the revamped, speed-centric offense during the session as LSU begins preparations for the 2025 season opener against Clemson on Aug. 30.
ä More coverage in Sports, 1C.
The University of Louisiana at Lafayette’s longtime president Joseph Savoie is stepping down from his role after nearly two decades leading the university, having overseen expansions of campus research, upgrades to campus facilities and a major fundraising campaign. Savoie, the university’s sixth president, has led the school since July 2008 and will transition Friday into a new position as the university’s president emeritus. Mark Romero, the chair of the UL system Board of Supervisors, announced Savoie’s retirement on Wednesday during a board meeting. ”It’s been an interesting 17
ä See SAVOIE, page 6A
New La. laws go into effect Friday Changes affect kratom, window tint, frogging and more
BY ALYSE PFEIL Staff writer
Louisiana drivers, kratom users, voters and frog hunters should all be on alert as a slew of new state laws are set to take effect Friday. The Louisiana Legislature during its regular session this spring passed 516 bills that avoided a veto by Gov. Jeff Landry, many of which take effect Friday. Here are 20 new state laws that
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will apply to those visiting or living in Louisiana.
Driving in the left lane Drivers who dillydally in the left lane by traveling under the posted speed limit could now face tougher fines with the passage of Act 24, sponsored by state Sen. Jay Luneau, D-Alexandria, who has said the legislation is meant to avert road rage incidents, ease passage for commercial drivers and aid officers in enforcing the rules. Those in violation of the law could now be fined $150 for the first offense and then $250 and $350 for subsequent offenses. The penalty had been a maximum of
$100 or 30 days in jail.
No phones while driving Having your phone in your hand while driving is also illegal now under Act 288. The new law targeting distracted driving makes it illegal to hold onto your phone and do things like texting, taking a call, scrolling through social media or generally using any cellphone app. It’s OK to pick up a phone while stopped at a red light or parked, however. Unless it’s a school or construction zone, drivers can only be penalized for violating the hands-free
ä See LAWS, page 4A
STAFF PHOTO By JAVIER GALLEGOS
A new state law that goes into effect on Friday will allow some darker window tinting for cars.
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101ST yEAR, NO. 31