YOUR MORNING NEWS ROUNDUP | | | |
Interest rates are expected to drop for the first time in four years this week. The floor exercise final at the Paris Olympics was even more screwed up than already known. Historic rain levels leave portions of North Carolina soaked. |
Here's what to expect from the Federal Reserve meeting |
After raising its key interest rate for nearly two years to tamp down growth and rising prices, economists expect the Federal Reserve to cut the rate to bring it more in line with slowing inflation. |
But is a rate cut incoming? Following July's meeting, Federal Reserve Chair Jerome Powell said: "The economy is moving closer to the point where it will be appropriate to reduce our policy rate. That time is drawing near. That time could be in September if the data support that." |
| • | So, do we have the data? Yes and no. But whether a decrease will be by a quarter or a half percentage point from its 23-year high of 5.25% to 5.50% is basically a coin toss. | | • | Either way, the Fed's move will reveal whether officials are more concerned about stamping out inflation's final embers or propping up a labor market that has been cooling a bit too rapidly for most economists' comfort. | | • | Time for a new car?: Don't expect life-changing money impacts right away. Financial institutions are usually slow to lower the rates they charge borrowers when the Fed begins to cut its own rate. | |
Scoring errors might have cost Simone Biles another Olympic gold |
Video submitted this week as part of Jordan Chiles' appeal to the Swiss Federal Tribunal indicates a scoring inquiry for Simone Biles' routine in the floor final at the Paris Olympics was never registered, likely costing the Olympic champion another gold medal. Biles won the silver medal, finishing just 0.033 points behind Rebeca Andrade of Brazil. On Tuesday, Biles responded, saying "Honestly not a big deal for me, Rebeca had a better floor anyways." Read more |
Israeli agency behind Hezbollah pager explosions |
Israel's Mossad spy agency planted small amounts of explosive material in Hezbollah pagers that detonated across Lebanon, killing at least nine people and injuring thousands, multiple reports said Wednesday. A wave of coordinated blasts emanating from the handheld wireless communication devices took place Tuesday afternoon as people shopped for groceries, sat in cafes and drove in cars, leaving blood-splattered scenes. Read more |
North Carolina braces for more rain after 'historic' deluge |
Forecasters say a storm will continue its path northward across North Carolina into the Mid-Atlantic, triggering thunderstorms and heavy rainfall, until it is expected to dissipate on Wednesday. The storm comes after an intense system earlier this week drenched parts of North Carolina in "historic rainfall," inundating highways and stranding drivers. Read more |
Sean 'Diddy' Combs denied bail |
Federal authorities are charging Sean "Diddy" Combs with racketeering, sex trafficking and transportation to engage in prostitution, according to an unsealed indictment against him by the U.S. Attorney's Office for the Southern District of New York on Tuesday. Following a hearing in which Combs pleaded not guilty to the three charges against him, a judge denied the rapper bail and ruled he must remain in custody as he awaits trial. Read more | A courtroom sketch of Sean "Diddy" Combs and his defense lawyer in federal court in New York City on Sept. 17, 2024. Jane Rosenberg, REUTERS |
Photo of the day: A show in the sky for one night only |
When the Harvest Moon rose along the horizon, spectators were treated not only to an exceptionally large and bright supermoon, but – on Tuesday only – a partial lunar eclipse. | A partial lunar eclipse is seen in Oklahoma City, Tuesday, Sept. 17, 2024. BRYAN TERRY/THE OKLAHOMAN |
Nicole Fallert is a newsletter writer at USA TODAY, sign up for the email here. Want to send Nicole a note? Shoot her an email at NFallert@usatoday.com. | | | | "There's an elephant in the room," Sean "Diddy" Combs said at a party I attended a few years ago. "There's discrimination and injustice everywhere." | | | | Donald Trump returned to the campaign trail Tuesday in a Flint, Michigan, town hall event after a thwarted assassination attempt over the weekend. | | | | An ex-girlfriend of Devin Strader's placed a restraining order against him in 2017 after he allegedly burglarized her home. | | | | NASA is weeks away from sending its Clipper orbiter on a journey to the Jupiter moon Europa, which scientists believe could harbor conditions for life. | | | | USA TODAY's daily news podcast, The Excerpt, brings you a curated mix of the most important headlines seven mornings a week. | | | | Our app gives you award-winning coverage, crosswords, audio storytelling, eNewspaper and more. | | | | | | | Brighten your day with one of our games. | | | | | |
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