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The Federal Reserve is poised to cut interest rates on Wednesday for the first time since the 2008 financial crisis to extend the longest economic expansion in US history.The move would come despite a strong US economy. But some cracks are beginning to show: The global economy is softening, American manufacturing is slowing, and the global trade war isn't helping matters.But a potential rate cut would also follow months of pressure from President Donald Trump, who has broken with his predecessors' practice of walling off the central bank from politics.Jerome Powell, the chairman of the world's most influential central bank, has repeatedly pledged to follow economic data, and policymakers have become increasingly worried that uncertainty, caused in part by the President's trade wars with China and other countries, will hamper global growth and dampen investment."We are carefully monitoring these developments and assessing their implications for the US economic outlook and inflation, and will act as appropriate to sustain the expansion," Powell reiterated in remarks delivered at a French government conference in Paris on July 16.Even before the central bank signaled the possibility last month, investors had already priced in a reduction in the federal funds rate, which influences the cost of mortgages, credits cards and other borrowing. Those expectations piled on additional pressure on the Fed to move at this week's meeting to avoid rattling markets with an abrupt change in course.The Fed chairman has brushed off such pressures -- political or otherwise -- arguing the Fed is "insulated" from such demands as an independent institution outside of the control of the White House and whose decisions are informed by incoming economic data.The Fed last raised rates in December but has backed off plans for further tightening.In June, Powell began to make the case that the Fed, like other central banks, around the world needed to act earlier to get ahead of any economic weakness especially given how low interest rates currently are -- a reversal from his previous stance."If you see weakness, it's better to come in earlier rather than later," Powell said at an appearance before the Council on Foreign Relations in New York. "I think most central banks would want to act preemptively and let a downturn gather steam, in a sense, the thought being an ounce of prevention is worth a pound of cure."That message has been echoed by other top officials, including Federal Reserve Bank President William Dudley.Efforts by the Fed to prevent an economic downturn is unlikely to win a reprieve from the White House. A day before policymakers were set to gather for their two-day interest-setting meeting in Washington this week, Trump chastised the Fed for making "all the wrong moves," adding, "a small rate cut is not enough."Trump has kept up a year-long relentless attacks against the Fed, often lamenting he regrets appointing Powell for the role, and going so far as to threaten to fire him. He's called the central bank his "biggest threat" and accused them of behaving like a "stubborn child" for refusing to cut rates and keeping credit too tight.It will be up to Powell during his now-routine press conference to justify the decision to plow ahead with a rate cut given some prevailing strength in the economy. Since their last meeting in June, the data has consistently surprised to the upside with stronger-than-expected job gains, retail sales and economic growth in the second quarter.Wall Street analysts also suggest Friday's upcoming jobs numbers will also be an important economic milestone that will determine whether a further rate hike may be coming as early as September as some anticipate."Expect an overall strong report, eroding the case for further cuts, but given the strong easing bias of Fed leaders, much depends on exactly how strong the report is and how they adjust their messaging in response," Josh Wright, iCIMS' chief economist and former Fed staffer said. "'One and done' still seems like an economically justifiable outcome." 4095

The Michigan attorney general's department sent a cease and desist letter to Menards after receiving multiple complaints about price-gouging.Dana Nessel says that her office received 18 complaints from consumers about face masks, bleach and other products being sold at high prices.The AG's office says that investigators have found that Menards allegedly "appears to be exploiting public fear about coronavirus" by raising prices.Nessel says investigators reportedly discovered that last week, the store allegedly doubled the price of cleaning products like bleach and significantly raised the price of face masks while tying their purchase to an in-store rebate.The AG's office began receiving complaints about Menards last week. “Big box stores are not immune to the Michigan Consumer Protection Act or the Governor’s Executive Order,” Nessel said in a press release. “Large corporations must also play by the rules, and my office will work diligently to ensure this state’s consumers are treated fairly and not abused by businesses seeking to unlawfully jack prices up to line their pockets with profits at the expense of the public during this time of great need.”Menards will have 10 days to respond to the cease and desist letter, or the AG's office could potentially take legal action. 1305

The Hubble Telescope can sure find some scary images of deep space in a video released by NASA on Monday. The images were of the twin galaxies AM 2026-424, which is a mere 724 million light-years away from Earth. That means the light we are seeing on Earth was emitted 724 million years ago.From Earth, the colliding galaxies appear to form the shape of a face, with two "eyes," which make up the core of the galaxies."Each 'eye' is the bright core of a galaxy, one of which slammed into another. The outline of the face is a ring of young blue stars. Other clumps of new stars form a nose and mouth," NASA said in a statement.""Although galaxy collisions are common—especially back in the young universe—most of them are not head-on smashups, like the collision that likely created this Arp-Madore system," NASA added. "The violent encounter gives the system an arresting 'ring' structure for only a short amount of time, about 100 million years. The crash pulled and stretched the galaxies' disks of gas, dust, and stars outward. This action formed the ring of intense star formation that shapes the nose and face." 1129

The Los Angeles Police Department is investigating an incident recorded on video and widely shared on social media that shows security staff forcefully removing transgender patrons from a downtown bar on Friday.A group of eight employees from Bienestar Human Services, which focuses on health issues in Latino and LGBTQ communities, were celebrating at Las Perlas bar after the first day of a local LGBTQ festival when a couple began directing "transphobic slurs" at their table, Khloe Rios told CNN.Rios is the manager of Transgeneros Unidas, the Bienestar team focused on advocacy for transgender and non-binary people.Rios said that at first, she and her group, which included transgender women of color, gay men of color and a gender non-conforming person, told the couple to leave them alone. The two seemed drunk, Rios said, so her group didn't take them very seriously.Then, Rios said, the man became physically aggressive toward one of her coworkers. She said her group immediately tried to protect their coworker from being harmed."We just wanted to protect each other," Rios said. "We were trying to get them off our backs. We didn't want no confrontation but they were being very violent."Rios said the bar's manager and security personnel soon arrived and tried to de-escalate the situation. She said they asked the couple to leave and started "gently" escorting them outside, but handled her group forcefully.In the video recorded by Rios that went viral, one person is seen repeatedly screaming, "Don't touch me like that," as they are forcibly grabbed by bar security, slammed against a wall and thrown out.Another security staff member is seen grabbing another individual in a chokehold, dragging them across the bar, and also throwing them out."What happened?" the individual being dragged outside can be heard asking.Cedd Moses, CEO of Pouring with Heart, the hospitality group that owns Las Perlas Bar, said in a statement that the manager on duty asked two groups of guests to leave after an "escalated verbal altercation broke out." He added that the company has "zero tolerance for this type of behavior.""The guards removed the guests that were not compliant with the manager's request to leave and did so in accordance with company policy," the statement read.Rios said her group wasn't asked to leave until they were already being escorted out."They ask the husband to take the wife to go outside, and they just turn to us and start picking up," she said. "They never asked us to leave. They asked us to leave when we were being pushed out."Rios said that police eventually arrived at the scene, but that the other couple involved in the incident had fled by then. She said her group filed a hate crime incident report with law enforcement.LAPD acknowledged the incident on Twitter and said it could not comment on an ongoing investigation."Whether in public, or inside of a private establishment, all Angelenos deserve the freedom to coexist in harmony," the department 3008

The Missouri House of Representatives passed a bill that bans abortion after eight weeks, sending it to the desk of Republican governor Mike Parson.The House passed the bill with just hours remaining in the legislative session.The bill bans abortions after eight weeks of pregnancy. It does not include a provision to allow abortions in the event of rape or incest. Doctors who perform abortions would face a prison sentence of between five and 15 years.Missouri is just the latest state to pass a bill restricting abortion. Ohio, Georgia and Alabama have all passed laws in the hopes of curbing abortions in recent weeks. Republican controlled states have made a push to pass the laws now after the confirmation of Brett Kavanaugh to the Supreme Court, giving it a conservative majority. 800

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