Russia and Ukraine trade strikes and Fed unlikely to change interest rate: Morning Rundown

Russia and Ukraine exchange strikes after Putin declines to agree to Trump’s ceasefire proposal. The Federal Reserve will release its first interest rate decision since Trump’s policies took effect. And a college sports conference known for its football prowess is taking March Madness by storm.

Here’s what to know today.

Ukraine and Russia trade strikes after Putin declines to endorse Trump’s ceasefire proposal

Russia and Ukraine accused each other of air attacks on civilian targets and infrastructure, less than 24 hours after President Vladimir Putin told President Donald Trump that he would halt attacks on Ukraine’s energy system for 30 days.

In a long phone call, Putin declined to endorse to a 30-day ceasefire endorsed by Trump and later accepted by Ukrainian President Volodymyr Zelenskyy. But according to a Kremlin readout of their conversation on Tuesday, Putin did agree “to mutually refrain from strikes on energy infrastructure for 30 days,” which differed slightly from Trump’s post on Truth Social and a White House readout which said Russia had agreed to an “energy and infrastructure” ceasefire.  

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Within hours, Zelenskyy, who has already accepted a U.S. proposal for a complete ceasefire, said Russia fired drones at “civilian infrastructure,” including a hospital and a railway power system, in several regions across Ukraine. Russian authorities also accused Ukraine of launching drones and said and oil depot had caught fire due to crashed debris. 

It is unclear if both Kyiv and Moscow intended to strike energy targets.

The U.S. and Russia have nonetheless hailed the call between their leaders. Trump described the nearly two hour call with Putin as positive. Zelenskyy, in comments that followed the call expressed an openness to talk about the “next steps” with Trump while requesting more details and involvement, adding that efforts to “negotiate without Ukraine, in my view, will not be productive.”

Read the full story here.

Fed to make first interest rate decision since Trump policies set in

The Federal Reserve is expected to leave interest rates unchanged as it waits to see how the effects of President Donald Trump’s early policy decisions play out. A decision will be announced today.

Trump administration officials have recently suggested that consumer spending and employers’ hiring are both slowing, with concerns bolstered by new tariffs, federal workforce cuts and slips in the stock market. Investors now believe the Fed is likely to cut interest rates at least twice this year, a substantial shift from expectations at the start of the year for potentially no cuts at all.

Some experts believe the White House could be waiting for the Fed to lower rates in support of Trump’s economic agenda — and if it doesn’t, it could give the White House a target to blame for adverse economic outcomes. 

The branches of government voters believe have too much power

A NBC News poll found that registered voters believe the executive branch and the courts have too much power, a change that has been driven by Democratic-leaning voters who have been frustrated by both Trump’s expansive agenda and the Supreme Court’s overturning of Roe v. Wade in 2022. 

The poll found:

✔️ 43% of registered voters believed the president and the executive branch have too much power, while 39% said the branch’s power is about right and 6% said it has too little power. 

✔️ 28% of voters said the Supreme Court and the judicial branch have too much power, while 49% said it has about the right amount of power and 8% said it has too little power. 

✔️ 18% of voters said Congress and the legislative branch have too much power, while 46% said it has about the right amount of power and 19% said it has too little power. 

The difference in results from the last time NBC News asked the question, in June 2019, suggests frustration among Democrats and ambivalence among Republicans. Read more about the poll results.

The results also come as Trump and his allies clash with federal judges and called for one’s impeachment after the judge issued an order blocking the deportation of Venezuelan migrants. The calls for impeachment of U.S. District Judge James Boasberg earned a rare rebuke from Chief Justice John Roberts.

The results also come as Trump and his allies clash with federal judges and called for one’s impeachment after the judge issued an order blocking the deportation of Venezuelan migrants. The calls for impeachment of U.S. District Judge James Boasberg earned a rare rebuke from Chief Justice John Roberts.

More politics news:

• A federal judge blocked Trump’s executive order banning transgender people from enlisting or serving in the military. 
• Another federal judge ruled the shutdown of USAID was likely unconstitutional and ordered the government to reinstate its systems.
• The Trump administration is working to reinstate more than 24,000 probationary workers it fired, according to court documents.
• The federal government has begun releasing a trove of documents about the assassination of President John F. Kennedy.
• Elon Musk has pitched cuts to Social Security but has made false claims about who’s fraudulently accessing the entitlements.
• The Trump administration is considering giving up a high-ranking NATO command, which an American has exclusively held since Dwight D. Eisenhower was president.
• White voters make up a large, influential group of voters. But a more useful and revealing way to understand their politics requires looking at the gap within the gap, NBC News and MSNBC’s Steve Kornacki writes in an analysis. See the breakdown of this divide.

Read All About It

•  Holding out for a bargain on your next car purchase? Here’s why experts say you shouldn’t.
• A suspect armed with a gun and Molotov cocktails launched a “targeted attack” against a Tesla location in Las Vegas.
• The Louisiana woman accused of theft and fraud in connection with the death of a Super Bowl reporter near New Orleans will also be charged with second-degree murder, authorities said.
• A filmmaker was federally charged over allegations that he defrauded Netflix out of $11 million in connection with a show he never completed.
• NASA astronauts Suni Williams and Butch Wilmore returned to Earth after nine months of space. See the moment the SpaceX capsule splashed down off Florida.

Staff Pick: The football conference that’s dominating college basketball

The SEC is synonymous with college football. It has 13 national champions since 2006, routinely brings in the best high school recruits, produces the most NFL talent and boasts fan bases that treat the sport like a religion. But this year, the roundball — not the pigskin — reigns supreme.

The conference has 16 programs — and an unprecedented 14 made it to the NCAA Tournament, including four of the top eight teams in the bracket. We spoke with No. 1 seed Auburn head coach Bruce Pearl and college basketball analysts for their takes on how this transformation happened. — Greg Rosenstein, sports editor

NBC Select: Online Shopping, Simplified 

A cuticle cream from the brand Onsen has become popular on Amazon thanks to its easy application and hydrating formula. But does it live up to the hype? One NBC Select editor tested the product. Plus, skin care products from The Ordinary are finally available on Amazon. Here are some editor and expert favorites.

Sign up to The Selection newsletter for hands-on product reviews, expert shopping tips and a look at the best deals and sales each week.

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