Today’s edition of quick hits.
* Powell finally did the right thing: “The Federal Reserve said Wednesday it was lowering its key interest rate by half a percentage point, an unusually aggressive move designed to cushion the economy from a further slowdown. In announcing the rate cut, the central bank noted job gains had slowed, while inflation had made further progress toward its 2% goal.”
* In Lebanon: “A second wave of device explosions hit Lebanon on Wednesday, killing 14, injuring 450 others and igniting blazes across the country a day after hundreds of pagers belonging to Hezbollah members detonated in an unprecedented attack on the militant group. Lebanon’s Red Cross said it deployed 30 ambulances across southern Lebanon and the Bekaa Valley in response to the walkie-talkie explosions.”
* The footage of this was remarkable: “A Ukrainian drone attack on a Russian missile facility early Wednesday threw up towering fireballs visible from space and thundering detonations that triggered earthquake monitors. Even by the standards of this incendiary conflict, video showing the blasts north of Moscow made for remarkable footage.”
* On the other hand: “The attack came just hours after the Russian military claimed to have captured the town of Ukrainsk, as Moscow continues a slow but steady advance in eastern Ukraine.”








