A Hawkish Fed Signals Higher Interest Rates Ahead

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  The thing about AI for business, it may not automatically fit the way your business works.

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  At IBM, we've seen this firsthand, but by embedding AI across HR, IT,

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  and procurement processes, we've reduced costs by millions, slash repetitive tasks,

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  and freed thousands of hours for strategic work.

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  Now we're helping companies get smarter by putting AI where it actually pays off,

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  deep in the work that moves the business.

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  Let's create smarter business.

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  IBM.

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  The Fed holds rates steady, but officials hawkish tone since stocks sliding.

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  Plus, Tim Cook tells the Journal that price increases on Apple products are, quote, unavoidable.

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  And U.S. Officials spell out the terms of the Iran peace deal.

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  Iran is walking away basically being paid to reopen the Strait of Hormuz with no significant hard commitments

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  that it will make on the nuclear program and ballistic missiles.

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  It's Wednesday, June 17. I'm Alex O'Sulliv for the Wall Street Journal.

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  This is the PM edition of What's News, the top headlines and business stories that move the world today.

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  The Federal Reserve today held its benchmark rate steady between

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  three and a half and three and three quarters percent, as was widely expected.

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  Officials were unanimous in that decision, but they hinted more strongly that their next move will be a rate hike.

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  It was the first meeting led by new Fed Chairman Kevin Warsh, and the central bank under him might look different.

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  But our number one goal is to get monetary policy right.

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