Fed Finally Takes a Bold Step!

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BUSINESS & ECONOMY

📉 Fed Cuts Interest Rates by Half a Point in Bold Easing Move

The Federal Open Market Committee cut its benchmark interest rate by 50 basis points, bringing it to a range of 4.75%-5%. This is the first-rate reduction since the COVID pandemic, driven by signs of easing inflation and a weaker labor market. Jerome Powell, Fed Chair, stated, "Inflation is moving sustainably toward 2%," signaling confidence in achieving their inflation target.  

🏠 Low mortgage rates 'gone' for good 

According to Jim Tobin, CEO of the National Association of Home Builders, the days of 3 to 4% mortgages are likely over. He pointed to rising interest rates driven by Federal Reserve policies and advised buyers to view 5.5% rates as historically reasonable. He stated, “It’s going to be a great time to buy your home or refinance if you bought earlier.”

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WORLD

🇸🇦 Saudi Crown Prince: No Israel Recognition Without Palestinian State

Saudi Crown Prince Mohammed bin Salman stated Wednesday that Saudi Arabia will not recognize Israel without the creation of a Palestinian state, following the October war between Israel and Hamas. This follows a pause in U.S.-backed normalization talks. He stated, “The kingdom will not establish diplomatic relations with Israel without an independent Palestinian state with East Jerusalem as its capital.”  

🇺🇸 Trump set to meet India's PM Modi in the US 

Former US President Donald Trump is scheduled to meet Indian Prime Minister Narendra Modi during Modi’s visit to the US next week for the Quad summit, focusing on international relations. Trump praised Modi as “fantastic” but criticized India’s trade practices as a “big abuser.” Modi, attending the UN General Assembly, has not responded. Trump remarked, “He’s fantastic. I mean, fantastic, man.” 

🌍 UN General Assembly Demands End to Israeli Occupation 

The U.N. General Assembly overwhelmingly supported a Palestinian resolution demanding Israel end its occupation of Gaza and the West Bank within a year, with a vote of 124-14 and 43 abstentions. The resolution is nonbinding but reflects global sentiment. The U.S. opposed it, citing one-sidedness. Palestinian U.N. Ambassador Riyad Mansour said, “This sends a clear message that Israel’s occupation must end.”

SCIENCE & TECH

🦠 Superbug Crisis Could Kill 40M by 2050 

Antibiotic resistance could result in nearly 40 million deaths by 2050, as bacteria and fungi evolve to resist treatments. Misuse of antibiotics in humans, animals, and agriculture accelerates antimicrobial resistance (AMR). Without new antibiotics and better healthcare access, infections may become untreatable, leading to a surge in deaths. Dr. Chris Murray warns, “The situation is expected to worsen significantly.”  

🎥 YouTube Shorts to Add Veo AI Video Model

YouTube Shorts is integrating Google DeepMind’s AI video model, Veo, later this year. Veo will enhance the Dream Screen feature, allowing creators to generate high-quality backgrounds and six-second clips using prompts. The model, which can edit and remix footage, supports cinematic 1080p video. Creations will be watermarked with SynthID for authenticity. 

📊 LinkedIn Uses Your Data to Train AI Models

LinkedIn has quietly opted users into training its generative AI models without explicit consent. The platform updated its privacy policy, allowing personal data to be used for AI development, personalization, and insights. Users can opt-out via the "Data for Generative AI Improvement" option, though previous data use remains unchanged. LinkedIn ensures privacy measures and excludes users from the EU, EEA, and Switzerland.

SPORTS & ENTERTAINMENT

🗣️ Hayden Panettiere Speaks Out on Brother's Death: "I Lost Half My Soul"

Hayden Panettiere broke her silence about her younger brother Jansen's death, who passed away last year at 28 from an undiagnosed heart condition. In an interview with People, she discussed her grief, struggles with sobriety, and how paparazzi photos worsened her agoraphobia. Reflecting on the tragedy, Panettiere said, "When I lost him, I felt like I lost half my soul."

🎤 YFN Lucci's Lawyer Confirms Rapper is Alive After Death Hoax

YFN Lucci's lawyer, Drew Findling, has confirmed that the rapper, Rayshawn Bennett, is alive after social media rumors claimed his death in prison. The hoax followed Lucci's plea deal in January 2024, where he received a 10-year sentence for a gang-related charge. The rumors may have been fueled by the recent death of his former labelmate, Rich Homie Quan. Findling stated, “Lucci remains well and alive.”

OTHER NEWS

🚢 DOJ files $100M lawsuit against ship owner over Key Bridge crash 

The Justice Department has filed a $100 million lawsuit against Singapore-based companies Grace Ocean Private Limited and Synergy Marine Private Limited, owners of the vessel Dali, after it collided with Baltimore's Key Bridge in March. The power loss caused the bridge to collapse, resulting in six deaths and major economic damage. U.S. Attorney Erek Barron stated, "This collision resulted from multiple failures."

🛑 Major US Union Withholds Endorsement for Harris or Trump

The International Brotherhood of Teamsters, representing 1.3 million members, declined to endorse Kamala Harris or Donald Trump for the 2024 U.S. election, citing limited commitments on union priorities from both candidates. This is the first time since 1996 they’ve withheld an endorsement. President Sean O'Brien stated, "Extensive member polling showed no majority support for Harris or universal backing for Trump."

🛑 House Rejects GOP Bill to Prevent Government Shutdown

The House voted 220-202 to reject Speaker Mike Johnson’s six-month funding bill, with 14 Republicans joining Democrats. The bill included a voter registration provision that faced opposition. Democrats support a three-month extension to avoid disruptions, while Johnson insisted there’s “no Plan B” for preventing a shutdown. Mitch McConnell warned, “There’s no education in the second kick of a mule.”

THIS DAY THAT YEAR

On September 19th, 1994, the medical drama ER premiered on NBC, quickly rising to become one of television's highest-rated shows. This iconic series not only captivated audiences but also launched the careers of numerous actors, most notably George Clooney and Julianna Margulies.

BRAIN TEASER

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What starts with a T, ends with a T and has T in it?

The answer is: A teapot.

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