The Federal Reserve slashed interest rates aggressively Wednesday, announcing the first rate cut since March 2020.

• Powell doesn’t think the Fed is playing catch-up
• Powell thinks the economy is in good shape
• The Fed chief addresses the political optics — again

The Federal Reserve has two mandates: to pin inflation to around its target of 2% and to keep unemployment low. And the central bank balances that twin mandate when looking at whether to raise or lower base rates, or keep them the same.

For some time now, policymakers have concentrated on trying to get inflation under control through a series of interest rate hikes that took the Fed’s benchmark or base rate from a range of 0% to 0.25% in early 2022 to 5.25% to 5.5% in September 2024.

I believe what motivated them to drop the rate by a half-point now – rather than the quarter-point that some were expecting – is the labor market. The labor market is not exactly shaky – unemployment is currently at 4.2% – but it isn’t as robust as it was.

The latest job numbers were a little below expectations. And some economists are saying that there is a recession ahead. Indeed, there are some that are saying the U.S. is already in a recession.

So my guess is the majority of the Fed’s rate-setting board were convinced more by the latest unemployment data than inflation. In terms of the dual mandate, the Fed clearly feels it’s got the inflation fight in the bag, so it has turned to its second concern of keeping unemployment low.

The rise of artificial intelligence will boost the global economy a cumulative $19.9 trillion by 2030, according to a new IDC study released Tuesday.

Why it matters: The study takes a broad look at AI’s impact, including the revenue of AI companies, AI’s impacts on consumer spending and the massive spending on infrastructure needed to power AI systems.

By the numbers: IDC, the market-forecasting giant, projects that AI — including but not limited to generative AI — will boost the global economy by $4.9 trillion in 2030, up from just below $1.2 trillion this year.

• If so, that means AI-related activity could account for 3.5% of global GDP, based on IMF estimates for the global economy.

Maybe not…

I think it’s worth considering that another debate might not actually benefit Harris, politically speaking. She is now in a poll position where she can win the race. Sure, voters want to know more about her but she could scratch that itch via a friendly set of media interviews or a townhall event or two.

Another debate is a big risk when you are ahead — and Harris is ahead albeit narrowly.

The Federal Reserve slashed interest rates aggressively Wednesday, announcing the first rate cut since March 2020.

• Powell doesn’t think the Fed is playing catch-up
• Powell thinks the economy is in good shape
• The Fed chief addresses the political optics — again

Check your registration

Make sure that you are registered to vote at your current address. You may not have voted in a while, you may have moved or changed your name, or you may have forgotten whether you were properly registered the last time you voted. Your state’s secretary of state office or local board of elections may be a good place to start. You can also visit www.vote.org. It took only a few minutes online for me to verify my own registration and voter ID number.

If you need to change your name or address, it basically involves filing a new voter registration request.

Not registered? Register to vote now

As of this writing, there is still time to register, in every state. September is National Voter Registration Month.

You can register to vote now at Vote.gov or various other sites, and you can encourage your friends to do the same.

The process of registering doesn’t take long. In fact, Rock the Vote, a nonpartisan nonprofit focused on encouraging young adults to vote, says it takes an average of two minutes or less to go through the process. You may need your driver’s license or state-issued ID card, depending on the state.

Make a plan to vote

After you verify your registration, or register for the first time, it’s important to find out how to actually cast your ballot.

Make sure you know where your local in-person polling place is and what hours it will be open on Election Day.

Do you want to vote before Election Day? In many communities, you can go to a town office or other location and fill out a ballot, just as you would on Election Day. This allows you to vote in person on your own schedule. But the location for early in-person voting may be different from your regular polling place.

Or perhaps you want to vote by mail.

Voting by mail

Mail-in voting is safe and reliable, both in terms of protecting the integrity of your vote and keeping you safe from the spread of disease. Amid the COVID-19 pandemic in 2020, 46% of U.S. votes were cast by mail.

There are two kinds of mail balloting systems: universal vote-by-mail and absentee balloting. Some states, such as Vermont and Oregon, are mailing ballots to every registered voter. In other states, such as Minnesota and New Mexico, you must submit a formal request in advance of the election. In some of those states, such as South Carolina and New Hampshire, you need to provide a reason why you wish to vote by mail – such as that you will be out of town on Election Day or that you have health concerns that cause you to need to avoid large social gatherings.

Find out what your state’s rules are, and if you need to, request your vote-by-mail ballot. It’s also worth checking whether your state will require you to pay postage to mail your ballot – most states do. You can find out the cost and buy stamps ahead of time so you’re ready.

Your state secretary of state’s office or local election board will have a website listing important information, including:

• Upcoming election dates and deadlines
• Voter eligibility requirements
• Voter identification requirements
• Options to receive advance information about candidates and ballot questions
• Tools to look up whether you are registered to vote and to track your mail-in ballot

Set reminders to vote

People set reminders for all sorts of important tasks: paying bills, medical and dental appointments and sending birthday wishes to friends and family. So add voting to your calendar. Set alerts to request a mail-in ballot, to send that ballot back, or to vote early, or to vote on Election Day.

Tell friends and family you are voting

I can’t say it enough: Share what you know about how to register and vote. Every vote that is cast is a vital contribution to the future of your community, your state and the nation as a whole.

There are many ways you can tell people. For instance, you can share your intent to vote on your social media. Or send a text or an email to your family and friends. Or commit to calling 10 people and asking them to vote, and ask them to also call 10 more people. It will all make a difference. This is your democracy. Do your part to preserve and strengthen it.

Do not be intimidated

If you make your plan and follow the rules, you can cast your ballot and be certain that your vote will count.

You may hear about, or see or hear, people challenging voters’ eligibility to cast ballots or making allegations of “widespread” voter fraud and “rigged” elections. Over decades, investigations and audits have shown that election irregularities are rare and not large enough to affect the outcome of races.

It is your right to vote. Exercise that right proudly and make your voice heard.

The Federal Reserve has two mandates: to pin inflation to around its target of 2% and to keep unemployment low. And the central bank balances that twin mandate when looking at whether to raise or lower base rates, or keep them the same.

For some time now, policymakers have concentrated on trying to get inflation under control through a series of interest rate hikes that took the Fed’s benchmark or base rate from a range of 0% to 0.25% in early 2022 to 5.25% to 5.5% in September 2024.

I believe what motivated them to drop the rate by a half-point now – rather than the quarter-point that some were expecting – is the labor market. The labor market is not exactly shaky – unemployment is currently at 4.2% – but it isn’t as robust as it was.

The latest job numbers were a little below expectations. And some economists are saying that there is a recession ahead. Indeed, there are some that are saying the U.S. is already in a recession.

So my guess is the majority of the Fed’s rate-setting board were convinced more by the latest unemployment data than inflation. In terms of the dual mandate, the Fed clearly feels it’s got the inflation fight in the bag, so it has turned to its second concern of keeping unemployment low.

Second Wave of Exploding Devices, BBC
Exploding walkie-talkies and pagers in Lebanon have killed at least 20 people and injured hundreds, targeting Hezbollah strongholds and reportedly compromising the group’s communications.

Teamsters Decide Not To Decide, Yahoo! News
The Teamsters Union, historically influential in presidential elections, announced it will not endorse any presidential candidate, citing insufficient commitments from both Harris and Trump.

Saudis Demand Palestinian State, The Times of Israel
Saudi Crown Prince Mohammed bin Salman stated that Saudi Arabia will not establish diplomatic ties with Israel without the creation of an independent Palestinian state.

Russian Trolls Create Fake Harris Story, CBS News
A Russian troll farm fabricated a false story claiming Kamala Harris was involved in a 2011 hit-and-run that left a 13-year-old paralyzed, according to a Microsoft report.

UN Votes to End Israeli Occupation, Al Jazeera
The United Nations General Assembly passed a resolution urging an end to Israeli occupation in Palestinian territories. Member states voted 124 in favor, 43 abstained, and 14—including the U.S.—voted against.

From Ground News
Half of Americans Back Deportations, For the Left
A Scripps News/Ipsos poll found just over half of Americans support mass deportation of illegal Immigrants, a policy made popular under Trump that he vows to actualize if reelected.

Blasting Trump’s Deportation Ideas, For the Right
Harris criticized Trump’s plan to deport millions of illegal immigrants at a speech to the Congressional Hispanic Caucus Institute, questioning his potential need for massive raids and detention camps.