Fed holds rates; new projections spotlight uncertainty amid Trump's trade agenda
The Federal Reserve is widely expected to keep interest rates unchanged at Wednesday’s meeting.
In a significant policy shift, several U.S. national security agencies have suspended work on a coordinated initiative designed to counter Russian sabotage, disinformation, and cyberattacks.
A move that appears to ease pressure on Moscow as the Trump administration seeks to pivot toward improved relations with Russian President Vladimir Putin.
Initiated under former President Joe Biden last year, the cross-agency effort—led by the National Security Council (NSC) and involving at least seven agencies working in tandem with European allies—was established in response to U.S. intelligence warnings of an escalating shadow war orchestrated by Russia. However, since President Donald Trump took office on January 20, regular meetings between the NSC and European counterparts have been unscheduled, and formal coordination with the FBI, Department of Homeland Security, and State Department has largely come to a halt, according to current and former officials familiar with the classified discussions.
While it remains unclear whether the Trump administration has ordered an outright cessation of all work related to countering Russian hybrid warfare, some officials expressed concern that deprioritizing this issue could blind the United States to potential acts of sabotage. “We’re choosing to blind ourselves to potential acts of war against us,” said one former official, reflecting fears that reduced vigilance could expose critical vulnerabilities.
The suspension coincides with a broader realignment of U.S. policy under Trump, whose recent actions and statements have signaled a more conciliatory approach toward Moscow. This policy recalibration comes at a time when other Russia-focused projects initiated by the previous administration—such as efforts to counter election interference and asset seizures from Russian oligarchs—have also been scaled back or halted.
Despite these internal changes, routine intelligence sharing with some European allies, including the United Kingdom, continues. A senior NATO official confirmed that while U.S. agencies are still in contact with their European counterparts, the broader, multi-agency coordination on Russian sabotage has diminished. The NSC, when pressed for comment, reiterated that it “coordinates with relevant agencies to assess and thwart threats posed to Americans,” adding that any attack on the United States would be met with a “disproportionate response.”
Analysts warn that suspending these collaborative efforts could have dangerous repercussions. Over the past three years, Russian intelligence has increasingly relied on hybrid warfare tactics—ranging from cyber operations and disinformation campaigns to physical sabotage targeting critical infrastructure in both Europe and the United States. With the number of such near-miss events having risen in recent years, experts caution that the current pause in coordinated countermeasures might leave the U.S. and its allies less prepared to respond if Moscow escalates its activities.
As the Trump administration moves closer to pursuing a friendlier stance toward Russia, questions remain about the long-term implications for U.S. national security and its ability to counter emerging threats in an increasingly complex global environment.
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The White House has affirmed that U.S. President Donald Trump still intends to implement new reciprocal tariff rates on April 2, despite earlier remarks from Treasury Secretary Scott Bessent hinting at a possible delay.
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