Washington Today (9-18-24): Federal Reserve cuts interest rates half a percent, first cut since 2020

Federal Reserve Chair Jerome Powell announces the Fed has cut interest rates by 0.5%, larger than some analysts expected and the first rate cut in four years. Stocks initially went higher, but closed down 100 points.

U.S. House debates and vote on a bill to fund the federal government for six months to avoid a government shutdown October 1st. The Bill also requires people registering to vote show they are U.S. citizens.

The Justice Department files a $100 million lawsuit against the two companies that owned and operated the cargo ship that ran into the Key Bridge in Baltimore, causing the bridge to collapse and killing six workers. The amount is to recover the federal taxpayer dollars spent on the clean-up of the disaster.

A ceremony marks the start of construction of the platform in front of the Capitol Building for the Presidential inauguration that will take place in January. Sen. Amy Klobuchar speaks about the importance of the peaceful transfer of power.

In the presidential race, Vice President Kamala Harris talks about immigration at the Congressional Hispanic Caucus Institute’s leadership conference in Washington. Former President Donald Trump focuses on the auto industry at a town hall in Flint, Michigan. And the Teamsters union says it will not endorse either candidate.

Another attack on Hezbollah members in Lebanon. This time the walkie-talkies they are carrying explode, after yesterday's widespread explosions of pagers. Secretary of State Antony Blinken, on a trip to Egypt, is asked about the effects on the ongoing talks to reach a ceasefire agreement between Israel and Hamas.

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