What's next after the Fed's interest rate cut, the House rejects government funding bill, and 'The Golden Bachelorette' premieres

Good morning, everyone. A new study found that drinking coffee is linked to a number of health benefits. Here’s how much is best. Now, on to the news.

NEED TO KNOW

What the Fed's interest rate cuts mean for your finances

The Federal Reserve cut interest rates by half a percentage point yesterday. It’s the first time the central bank has reduced rates since 2020 amid efforts to lower inflation without triggering a recession.

What to know: Inflation surged after the pandemic, but while it’s gone down significantly, it still hasn’t reached the Fed’s 2% goal. Officials expect to end the year at 2.6% inflation, with further rate cuts through 2026. [NBC News/Yahoo Finance]

What it means: Borrowers may not see immediate impacts, but over time, interest rates on credit cards, auto loans and other types of lending are likely to come down from their peaks. The move is also likely to trim savings account yields. [USA Today]

Response: President Biden and Vice President Kamala Harris welcomed the rate cut, with Harris saying her focus would be to continue bringing down prices, while Donald Trump claimed, without evidence, that the cut was politically motivated. [CNN]

IN CASE YOU MISSED IT

??‘The Golden Bachelorette’

Joan Vassos began her journey on The Golden Bachelorette premiere with “remarkable authenticity.” Of the 24 bachelors, only one was given the first impression rose. See who it was. [Yahoo Entertainment]

?? Passport renewals

The State Department announced that its online passport renewal system is available to Americans who wish to skip the mail-in process. But there are certain requirements they’ll have to meet. [Yahoo News]

?? Walkie-talkie explosions

At least 20 people were killed after walkie-talkies exploded in Beirut one day after a pager attack on Hezbollah. Israel seemed to acknowledge the attacks, saying the country was in a “new era” of war. [CNN]

??? Govt. funding bill

Nearly every Democrat and 14 Republicans rejected a bill to avert a government shutdown. Democrats argued a provision that would make it illegal for noncitizens to vote would place extra burdens on eligible voters. [The Hill]

? MLB playoffs shape up

Despite several challenges during the regular season, the Milwaukee Brewers defied expectations to become the first MLB team to clinch a playoff spot. The Yankees secured the second spot shortly after. [Yahoo Sports]

WHAT’S HAPPENING TODAY

?? The first two episodes of Frasier Season 2 dropped on Paramount+. Peri Gilpin, who played Roz in the original series, is back. [Daily Beast]

?? Netflix’s true crime series Monsters: The Lyle and Erik Menendez Story dropped overnight. [Hollywood Reporter]

?? In women’s basketball, the Fever and Mystics take the court at 7 p.m. ET on Prime Video. [IndyStar]

?? In football, the Jets play this season’s first home game against the Patriots at 8:15 p.m. ET on Fox. [USA Today]

?? Colin Farrell returns to the Batman universe in The Penguin, premiering at 9 p.m. ET on HBO. [People]

?? And don’t forget to: Read your daily horoscope. Play the Crossword. Check the forecast in your area.

TODAY IN HISTORY

In 1994, the medical drama ER debuted on NBC. It became one of the highest-rated programs on TV and launched the careers of several actors — most notably George Clooney and Julianna Margulies. [Deadline]

3 QUESTIONS

...about Trump, Harris and abortion

Anthony asked Yahoo News Reporter Andrew Romano, whose new series The Stakes breaks down the presidential nominees’ policies on key issues, to explain where they stand on abortion.

Anthony: What do we know about Harris’s position on abortion?

Andrew: This one’s easy. Harris has always been an outspoken supporter of abortion rights. She sued an anti-abortion group as California’s attorney general, pushed for maternal health laws as a senator and became President Biden’s point person on the issue after Roe v. Wade was overturned.

Anthony: And what about Trump’s?

Andrew: This one’s murkier. Trump said he was “very pro-choice” in 1999 but started calling himself “pro-life” when he first considered running for president. In 2016, he vowed to appoint Supreme Court justices who would overturn Roe, and he ultimately kept his promise.

Anthony: What have the two candidates said they would do if they’re elected?

Andrew: Here’s the deal: Harris has pledged to sign legislation reinstating the protections of Roe (if Congress passes it). Trump says abortion laws should be left to the states, many of which have already implemented bans and severe restrictions.

Go deeper: Here’s how Harris’s and Trump’s views on abortion compare to voters’.

FEEL-GOOD MOMENT

Students at James Madison High School in Virginia raised over $21,000 to buy a Jeep Wrangler for their beloved custodian Francis Apraku. “His reaction was contagious and made all of us happy for him,” one of the students said. Watch the surprise. [USA Today]

Have a great day. See you tomorrow!

?? P.S. Before you go, your daily advice: Experts say that maintaining these five types of friendships can help increase happiness. [Today]

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