Image source, Reuters

We've been exploring some of the pledges Donald Trump made during his campaign trail earlier today, including the economy, immigration and war in Ukraine - but what are his plans for health and education?

• Trump promised in his top 20 priorities not to cut Medicare, which is a federally provided health insurance for older people, and in March on Truth Social, external he said he wouldn't undermine the Affordable Care Act - legislation he tried to dismantle unsuccessfully as president
• In a video in June 2023 on Trump's website, external, he said he would create a presidential commission, that is independent from pharmaceutical companies, to investigate the increase in chronic illnesses in children
• On education, his campaign reportedly proposed to abolish the Department for Education and that said Trump wanted states, and not the federal government, to have control over schools
• In early 2023 on his website, external, Trump said he would "cut federal funding for any school or programme pushing critical race theory, gender ideology, or other inappropriate racial, sexual, or political content onto our children"
• He also promised last year, external to create an institution called the American Academy, whichhe saidwould provide "world-class education" and college degrees. This, he said, would be "free of charge" and funded by "taxing, fining, and suing excessively large private university endowments"

Trump election could challenge central bank independencepublished at 20:23 Greenwich Mean Time 7 November

20:23 GMT 7 November

Natalie Sherman
New York business reporter

We've just been listening to Federal Reserve chairman Jerome Powell as he faced reporters seeking to tease out how the US central bank might respond to the next administration.

It's a tricky question for Powell. He was named Fed chair by Donald Trump but found himself second-guessed repeatedly, publicly and often crudely, by Trump during his first term.

This spring, the Wall Street Journal reported that Trump allies were drafting plans to bring the Fed more under presidential control.

Trump - whose campaign promises included bringing interest rates down - told Bloomberg a few months later that he would let Powell serve out his term "especially if I thought he was doing the right thing". He has also indicated he believed he should have a say on policy.

The economic establishment believes that independence is critical for central banks, noting that they are historically associated with less inflation and greater economic stability.

But if Trump's embrace of tariffs suggests anything, it is that he is perfectly comfortable bucking economic orthodoxy.

Federal Reserve Chairman Jerome Powell says the outcome of the US election will have "no effects" on its policy decision in the near term.

"We don't know what the timing and substance of any policy changes will be. We therefore don't know what the effects on the economy would be," he says at a press conference following a Fed meeting that resulted in an interest rate cut.

"We don’t guess, speculate and we don’t assume what future government policy choices will be."

He is then asked whether he has learned anything about what Americans thought about the economy from the election results.

He says he will not comment on the election.

Powell is later asked by a reporter if he'd resign if Trump asked him. "No," he says.

Phil McCausland
Live page editor

The day after the BBC projected that Donald Trump had won the presidential election has been a busy one here in the US.

President Joe Biden gave his first public speech since the results were announced from the Rose Garden at the White House this morning. Journalists, members of his cabinet and staffers filled rows of seats as he congratulated Donald Trump for his victory and Kamala Harris for her "inspiring campaign".

While he urged his supporters not to lose hope, Biden stressed that he would "do my duty as president" and ensure there was a peaceful transfer of power to a second Trump administration.

In the meantime, Democrats have begun to point fingers at each other for Trump's resounding victory, declined to concede control of the House of Representatives just yet and discussed ways to prepare for the next administration.

We've also reported that leaders across the globe have called Trump to extend their congratulations since he became president-elect.

Donald Trump and his transition team have remained largely quiet today, despite the ongoing swirl of speculation of who he might appoint to his cabinet.

There is more news and analysis to come. Stick with us.

The White House press secretary also says that President Joe Biden has invited Donald Trump to the White House to meet the teams there.

Karine Jean-Pierre adds they are working with Trump's team to arrange the visit and more will be shared once a date is fixed "in the near future".

Reporters repeatedly ask Karine Jean-Pierre if President Joe Biden has regretted dropping out of the presidential race in July.

"He believes he made the right decision when he stepped aside," Jean-Pierre says, adding that Biden believed it was the "right thing for the American people".

She says Biden was "inspired" by Vice-President Kamala Harris's campaign.

Karine Jean-Pierre, the White House press secretary, is speaking to reporters for the first time since Trump was declared the winner of the 2024 presidential race.

Reporters have been asking about the transition of power between the Biden and Trump administrations.

"Are we disappointed? Of course," Jean-Pierre says, adding the Biden administration respects the American people's voice.

"We're going to be helpful here," she says of the transition.

Jean-Pierre tells reporters the onus is on Biden to make sure there is a smooth transition, which she says he will.

"This is a defeat but we are not defeated," she said.

Image source, Getty Images

It's coming up to 14:30 in Washington and 19:30 in London. If you're just joining us, or are in need of a recap, here's the latest:

• In a short speech from the White House Rose Garden, President Joe Biden thanked Kamala Harris for her "inspiring campaign" and promised a peaceful transfer of power on 20 January. He urged his party and its supporters not to lose hope
• Meanwhile, Trump is weighing up appointments to his cabinet. The team leading his transition say he will select people that "make the life of Americans affordable, safe, and secure"
• We now know that Republicans have retaken control of the Senate, but the race for the House of Representatives continues - with the Republicans currently in the lead
• The US central bank has announced that it's cutting its key interest rate by 0.25 percentage points, the second cut in a row since September
• Ukraine's President Volodymyr Zelensky says he's not aware of any details of Donald Trump's plan to end the war between Russia and Ukraine quickly
• Meanwhile, Russia's President Vladimir Putin has congratulated Trump on his victory, calling him "courageous" and adding that he's ready to speak to him

In the last few minutes, Russia's President Vladimir Putin has responded to news of Donald Trump's victory in the US presidential race.

The Russian leader is currently speaking at an event in Sochi, where he has congratulated the next US president on his successful campaign.

According to the Reuters news agency, Putin says he's ready to speak to the Republican leader.

He also says that he had the impression Donald Trump was "bullied" during his first term.

The Russian president has also commented on the attempted assassination attempt on Trump in July, saying he was "impressed" by the incoming president's behaviour in the chaotic aftermath of the shooting, calling him "courageous".

What does election mean for further rate cuts?published at 19:11 Greenwich Mean Time 7 November

19:11 GMT 7 November

Natalie Sherman
New York business reporter

The cut announced by the Federal Reserve was widely expected. The big question on many people's minds is where do rates go from here?

Inflation - which is what prompted the central bank to raise rates initially - has been fading. It dropped to 2.4% in September, close to the 2% target.

Job growth has also been slowing. When the Federal Reserve started cutting rates in September, bank chairman Jerome Powell said the move was important in part to preserve a healthy labour market.

For both those reasons, many forecasters have been expecting borrowing costs to continue to fall in the months ahead.

But now some are warning that Donald Trump's election could throw a wrench in those plans.

He has promised a mix of tax cuts and tariffs, which economists say could keep pressure on inflation and drive up government borrowing - both of which could force the Fed to hold interest rates higher than expected.

We've seen interest rates on US debt - and mortgage rates - jump higher since the election, reflecting those concerns.

Natalie Sherman
New York business reporter

The US central bank has announced it is cutting its key interest rate by 0.25 percentage points.

This is the second cut in a row since September, when the Federal Reserve slashed rates - a sign of confidence that officials believe their fight to stabilise prices was nearing an end.

For anyone looking to borrow money, a lower rate from the Fed is good news, since it sets a benchmark for lending across the economy, influencing what banks charge for credit cards, mortgages and other loans.

Today's move means the Fed is now charging banks between 4.5% to 4.75% for short-term borrowing.

That is down from roughly 5.3% earlier this year, which had been the highest level in more than two decades.

Image source, Getty Images

Let's cross back to the US and another candidate for Donald Trump's new cabinet appears to have ruled himself out.

Senator Tommy Tuberville - who calls himself ‘Coach’ due to his former college football career - was anticipated by some to take on a role with the US Department of Transportation.

But, Tuberville appears to be concentrating on a role in the US senate, after responding to a question from a Reuters journalist on whether he’d work with Donald Trump.

“If there was a position where he could be more impactful for both Alabama and the country... he would listen”, a response from his office reads in a social media post by the journalist, David Shepardson.

However, Tuberville’s spokesperson adds that the senator believes Trump needs a “sledgehammer” in the senate and says he is “focused on playing that role”.

A short while ago we reported that US Senator Tom Cotton had pulled out of the running for a top job, according to Reuters news agency.

Staying with the European Political Community summit in Budapest, and Hungarian Prime Minister Viktor Orbán says the US and Europe face tough talks on trade following Donald Trump's election win.

Orbán, who is a close ally of Trump, has told a press conference that "the trade issue with the US will come up and it will not be easy".

The pair are still good friends - Orbán says he celebrated the news by "tapping into the vodka supply happily".

Before winning the election, Trump said he would impose tariffs of 10% on all imports.

It is a point that other EU leaders have spoken on as well as Orbán.

Ursula von der Leyen, the EU Commission president, has said "billions in trade and investment on each side of the Atlantic depend on the dynamism and stability of our economic relationship”.

The former French ambassador to the US, Gérard Araud, has said: "Ukraine, European security, trade … Everything is being called into question."

Image source, Reuters

Ukraine's President Volodymyr Zelensky says he's not aware of any details of Donald Trump's plan to end the war between Russia and Ukraine quickly.

Speaking at a news conference at the European Political Community summit in Budapest, he says he has not discussed it with US President-elect Trump.

The Ukrainian president says he believes Trump wants to end the war quickly but that it doesn't mean it would happen, according to the Reuters news agency.

As we've been reporting, Trump has said he would end the war "in one day".

Image source, Reuters

The UK Prime Minister, Sir Keir Starmer, has told reporters that the European Political Community summit is "not just about sovereignty of Ukraine" but also about "our freedom, our democracy and our values".

He made the comments when asked about whether Trump's win in the election was a good result for Europe and Ukraine.

Starmer has added that he met with Ukrainian President Volodymyr Zelensky for the sixth time since becoming PM and said it was an opportunity to affirm the UK's "ironclad support of Ukraine".

• Donald Trump has repeatedly said he would end the war between Russia and Ukraine "within 24 hours" but has not clarified what either side would have to give up to secure a peace deal

Image source, Reuters

Meanwhile in the UK, Deputy Prime Minister Angela Rayner says she's spoken to US Vice-President-elect JD Vance.

In a post on X, Rayner says: "We spoke about our plans for the future and how, working together, we build on the special relationship between our great countries."

Image source, Getty Images

As Donald Trump continues to weigh up appointments to his new cabinet, US Senator Tom Cotton has pulled out of the running for a top job, according to Reuters news agency.

Cotton, a former soldier, had been reported by US media to be a front runner for a top position in the new cabinet - particularly as secretary of defence.

The Republican has been the junior senator for Arkansas since 2015 after serving in Iraq and Afghanistan during his time in the military.

Now, Reuters reports the senator has withdrawn his name from being considered for any role in Donald Trump’s new administration.

Image source, Getty Images

California's Governor Gavin Newsom says his state is "ready to fight" in the face of a second Trump presidency.

In a statement, Newsom says he has called an emergency session to help bolster California's legal resources against "any unlawful action by the Trump administration".

"Whether it be our fundamental civil rights, reproductive freedom, or climate action -- we refuse to turn back the clock and allow our values and laws to be attacked," Newsom says.

Newsom has been a long-time critic of Trump, at one point calling him "unhinged" while disagreeing with him on major policy issues like climate change.

California is the most populous state in the US with 39 million residents, and yields the 5th largest economy in the world, giving the state considerable influence.

Democratic Party Chair Jaime Harrison, has hit back at a claim by Bernie Sanders - the independent senator from Vermont - that Democrats lost the 2024 election because they "abandoned working class people".

In a post on X, Harrison called Biden the "most-pro worker President of [his] life time" - noting his focus on supporting unions and his decision to march with striking workers.

Harrison also highlighted Harris's policy proposals, which he said "would have fundamentally transformed the quality of life and closed the racial wealth gap for working people across this country".

The dispute follows a Sanders' statement that blasted the party and its leaders: "While the Democratic leadership defends the status quo, the American people are angry and want change. And they're right."

"It should come as no great surprise that a Democratic Party which has abandoned working class people would find that the working class has abandoned them," he said.

• Sanders had rivalled Biden to become the Democrat candidate back in 2020 and Hillary Clinton in 2016. He is a long-time independent US Senator for Vermont

We have some analysis on why Kamala Harris lost the presidential election campaign.

Sam Cabral
Reporting from Washington DC

The last time Donald Trump entered the White House, Republicans held majorities in both chambers of Congress - the Senate and the House of Representatives.

Such unified control is rare. Before 2016, it was last achieved by Republicans in 2005.

And with that Republican trifecta, Trump signed into law major tax cuts and a series of deregulatory policies, as well as making an unsuccessful effort to repeal the Affordable Care Act or "Obamacare", which provides government-funded health insurance.

Democrats retook the House in 2018 and the Senate in 2020 as voters rebuked Trump's first term. They used that leverage to block much of his agenda on issues like immigration and to launch probes - including two impeachment trials - over his conduct in office.

But now, as Trump gears up for a return to power, Republicans have secured a majority of at least two seats in the Senate and, with millions of votes remaining to be counted, still have a shot at winning the House too.

Democrats will be hoping they eke out a House majority to subvert what they worry will be an unrestrained executive branch.

Image source, Getty Images