Good morning, everyone. A recent study has unveiled the myriad health benefits associated with drinking coffee, prompting a closer look at the optimal consumption levels for maximizing these advantages. Now, let’s delve into the latest financial news.
NEED TO KNOW
What the Fed’s interest rate cuts mean for your finances
The Federal Reserve has made a significant move by cutting interest rates by half a percentage point, marking the first reduction since 2020. This decision comes as part of a broader strategy to combat inflation while avoiding a recession.
Key Takeaways:
- Inflation, which surged following the pandemic, has seen a notable decline but remains above the Fed’s target of 2%. Officials project an end-of-year inflation rate of 2.6%, with additional rate cuts anticipated through 2026.
- Borrowers may not experience immediate changes, but over time, interest rates for credit cards, auto loans, and other lending products are expected to decrease from their recent highs.
- Conversely, savings account yields may also see a reduction as a result of this rate cut.
Reactions:
President Biden and Vice President Kamala Harris expressed their support for the rate cut, with Harris emphasizing her commitment to reducing prices. In contrast, Donald Trump alleged, without substantiation, that the decision was politically motivated.
IN CASE YOU MISSED IT
‘The Golden Bachelorette’
Joan Vassos embarked on her journey in the premiere of The Golden Bachelorette, showcasing remarkable authenticity. Among the 24 bachelors, only one stood out enough to receive the coveted first impression rose.
Passport renewals
The State Department has announced the launch of its online passport renewal system, allowing Americans to bypass the traditional mail-in process, provided they meet specific requirements.
Walkie-talkie explosions
Tragedy struck in Beirut as at least 20 individuals lost their lives due to walkie-talkies exploding, occurring just a day after a pager attack on Hezbollah. Israel acknowledged the situation, indicating the onset of a “new era” of warfare.
Govt. funding bill
A bill aimed at preventing a government shutdown faced rejection from nearly all Democrats and 14 Republicans. Democrats raised concerns that a provision prohibiting noncitizen voting would impose undue burdens on eligible voters.
MLB playoffs shape up
In a surprising turn of events, the Milwaukee Brewers have clinched the first playoff spot, defying expectations despite a challenging regular season. The New York Yankees quickly followed suit, securing the second spot shortly thereafter.
WHAT’S HAPPENING TODAY
The first two episodes of Frasier Season 2 have premiered on Paramount+, featuring the return of Peri Gilpin as Roz.
Netflix has released its true crime series, Monsters: The Lyle and Erik Menendez Story, overnight.
In women’s basketball, the Fever and Mystics will face off at 7 p.m. ET on Prime Video.
The Jets are set to host their first home game of the season against the Patriots at 8:15 p.m. ET on Fox.
Colin Farrell makes his return to the Batman universe in The Penguin, premiering at 9 p.m. ET on HBO.
And don’t forget to check your daily horoscope, tackle the Crossword, and review the weather forecast in your area.
TODAY IN HISTORY
In 1994, the medical drama ER made its debut on NBC, quickly becoming one of television’s highest-rated programs and launching the careers of several actors, most notably George Clooney and Julianna Margulies.
3 QUESTIONS
…about Trump, Harris and abortion
Anthony engaged Yahoo News Reporter Andrew Romano, whose new series The Stakes explores the presidential nominees’ policies on key issues, to shed light on their stances regarding abortion.
Anthony: What do we know about Harris’s position on abortion?
Andrew: Harris has consistently championed abortion rights. As California’s attorney general, she took legal action against an anti-abortion group, advocated for maternal health laws as a senator, and has been a leading voice on the issue since the overturning of Roe v. Wade.
Anthony: And what about Trump’s?
Andrew: Trump’s position is less clear-cut. He identified as “very pro-choice” in 1999 but later adopted a “pro-life” stance when he entered the presidential race. In 2016, he promised to appoint Supreme Court justices who would overturn Roe, a promise he ultimately fulfilled.
Anthony: What have the two candidates said they would do if they’re elected?
Andrew: Harris has committed to signing legislation to reinstate the protections of Roe, contingent on Congressional approval. Trump advocates for leaving abortion laws to the states, many of which have already enacted bans and stringent restrictions.
Go deeper: Explore how Harris’s and Trump’s views on abortion align with voter sentiments.
FEEL-GOOD MOMENT
In a heartwarming display of gratitude, students at James Madison High School in Virginia raised over ,000 to purchase a Jeep Wrangler for their cherished custodian, Francis Apraku. “His reaction was contagious and made all of us happy for him,” shared one of the students. Watch the touching surprise unfold.
Have a great day. See you tomorrow!
P.S. Before you go, your daily advice: Experts suggest that nurturing five specific types of friendships can significantly enhance your happiness.
About The Yodel: The Yodel is a morning newsletter from Yahoo News. By starting your day with The Yodel, you can stay informed about weather, national news, politics, entertainment, and sports—all in four minutes or less. Sign up to keep up with the latest updates.
