What the Fed’s latest cut reveals about state of the economy

The Federal Reserve cut interest rates again but Fed Chair Jerome Powell had a warning for Wall Street. The Wall Street Journal reports rates are now at their lowest in three years. The Chicago Tribune’s Jason Meisner discusses how a judge in Chicago ordered the CBP commander leading operations in the city to report to court daily to brief on the use of force — an order that was paused just before the first check-in. Police in Rio de Janeiro, Brazil, carried out the largest raid against a drug gang in the city’s history, leaving at least 132 dead. AFP reports the action drew swift condemnation. Plus, a new report suggests how much health-care costs could be about to rise for millions of people, Jamaica begins to assess damage from Hurricane Melissa, and how a new book by Dr. Seuss was discovered. Correction: On Tuesday, CBP Commander Gregory Bovino was ordered by a federal judge to brief her daily on immigration-enforcement efforts in Chicago. A previous version of this episode stated that Bovino gave his first of those briefings on Wednesday. In fact, he had not yet delivered one before an appeals court on Wednesday paused the judge’s order. Additionally, the number of unfilled Target jobs has been corrected. Today’s episode was hosted by Shumita Basu.