Good morning. Round one goes to Jerome Powell. Disney pulls Jimmy Kimmel off the air. And Meta is going deeper into consumer electronics with a pair of sleek specs. Listen to the day’s top stories.

— Angela Cullen

Arguably the biggest surprise from yesterday’s Federal Reserve interest rate decision was that there was only one dissenting vote. Chair Jerome Powell managed to rally a deeply divided committee and tune out heavy political pressure to find middle ground. It’s clear the Fed chair “corralled the cats,” said KPMG’s Diane Swonk. But can the central bank’s independence survive Donald Trump?

Now that the Fed has done what everyone expected, investors are asking if the economy is strong enough to fuel more gains. Stock futures rose, but questions remain about the pace of rate cuts. FedEx earnings today may offer some clues: One theory suggests industrials and transports must rise in tandem to confirm a rally. Yet, while the Dow has hit record after record, transports have lagged—an ominous signal that the market’s surge may lack staying power.

Tesla is working on a redesign of its door handles after incidents that trapped passengers inside their cars sparked worries about safety. The handles drew attention after a Bloomberg News investigation this month uncovered incidents in which people were injured or died when they were unable to open doors after a loss of power, particularly after crashes.

After a day of hob-nobbing with the British royal family at Windsor Castle (organic Norfolk chicken was on the menu at last night’s white-tie banquet, we hear), Trump’s visit to the UK pivots to tougher diplomatic talks on trade and foreign policy with Prime Minister Keir Starmer. The UK premier isn’t having the best of times as one of several European leaders managing countries that are becoming increasingly ungovernable.

Jimmy Kimmel Photographer: Randy Holmes/Disney

Disney is taking Jimmy Kimmel Live! off the air indefinitely after the FCC criticized his remarks on Charlie Kirk’s killing, underscoring the treacherous political climate for major media companies. Trump called the move “great news for America,” and suggested Jimmy Fallon’s and Seth Meyers’ shows also be pulled. How far can Trump go? Here’s how US broadcast licenses work.

Bloomberg Green New York: Join us Sept. 25 for a solutions-focused look into a new era of climate action during Climate Week NYC. Following the 80th United Nations General Assembly, we’ll hear how top leaders in business, finance and government are approaching climate issues during times of geopolitical uncertainty. Learn more here.

Deep Dive: Chip Wars

Huawei Technologies Co.'s booth at the MWC Shanghai tech show in Shanghai, China, in June. Photographer: Qilai Shen/Bloomberg

Days after China instructed companies to stop buying Nvidia’s RTX Pro 6000D chip, which can be repurposed for AI applications, Huawei unveiled new technology with greater computing power to challenge its US competitor.

• China told companies to stop testing the Nvidia chip and cancel existing orders, people familiar said. Several had indicated they’d buy tens of thousands of the semiconductors, which Nvidia designed to avoid triggering US restrictions on sales of advanced AI chips to China.
• Trade tensions between the two countries have complicated the US company’s return to China even after the Trump administration reversed an effective ban on such sales.
• Computer chips are the engine of the digital economy, and their growing capabilities are enabling technologies such as generative AI. Small wonder, then, that the devices are the focus of intense competition between the world’s economic superpowers.
• In a sign of just how much the balance of power in the computing industry is shifting, Nvidia made a surprise move of its own on Thursday by agreeing to take a $5 billion stake in its ailing archrival Intel.

The Big Take

Rings hollow. Settlement expansion, Israeli military activity and a struggling economy are plunging the Palestinian territories into a deeper crisis, raising the question: Is an independent state even viable?

Source: United Nations Office for the Coordination of Humanitarian Affairs/Bloomberg

Opinion

Like Sherlock Holmes’ dog that didn’t bark, the lack of all but a sole dissent may be the most curious incident of one of the weirdest Fed meetings in memory, and offers the most important clues for the future, John Authers writes. Time for a listen to 1990s album Goodbye Jumbo by World Party.

Before You Go

The Meta Ray-Ban Display glasses. Photographer: David Paul Morris/Bloomberg

Sightseeing. Meta unveiled its $799 Ray-Ban Display smart glasses with a built-in screen. The specs—which put texts, maps and AI-powered answers into your line of vision—are part of Meta’s effort to build its own consumer electronics ecosystem. It may not be time to leave that phone in your pocket just yet, but it looks like we’re getting there.