Walk the line with Jerome Powell

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Weekend Briefing

From Reuters Daily Briefing

By Robert MacMillan, Reuters.com Weekend Editor

Thanks for reading the Weekend Briefing, especially when summer holidays offer tempting alternatives to wallowing in news. Today's edition of the World News podcast discusses the plight of Gaza's children, while our latest AI&Us entry focuses on people using artificial intelligence for therapy. And City Memo takes us to Seoul.

Jerome Powell walks the line between jobs and inflation

Inflation Busters. REUTERS/Jim Urquhart

From Jackson Hole: The Federal Reserve chair pointed to a possible rate cut at the central bank's September meeting but stopped short of committing. Some investors think markets are getting ahead of themselves, particularly as the White House tries to assert more political influence on monetary policy. Check out these nifty graphs that show how various stocks reacted.
Trump threatens Cook: The president said he would fire Fed governor Lisa Cook if she doesn't resign. The first Black woman to serve on the board said she had "no intention of being bullied to step down." Trump demanded her resignation based on allegations about mortgages she holds in Michigan and Georgia.

Famine in Gaza City

Determination: The city and surrounding areas are officially suffering from famine, a global hunger monitor said. Read more on how the mood in Australia toward Israel has been changing. In this week's edition of Culture Current, we talk with Israeli comedian Noam Shuster Eliassi about her show, "Coexistence, My Ass!"
Revaluation: Syria will issue new banknotes, removing two zeroes from its currency – as well as pictures of Bashar and Hafez al-Assad – to try to restore confidence in the severely devalued pound.

Ukrainian attack suspends Russian oil flow to Hungary and Slovakia

The latest: Russia and Ukraine have stepped up their attacks on each other's energy infrastructure as President Trump pushes for a deal to end the conflict. Vladimir Putin has a long list of demands for Ukraine. Russia's foreign minister complained that Volodymyr Zelenskiy keeps saying "no to everything." Russian kids as young as 8 are getting military training.
And in Europe: An American trans woman challenged the Netherlands' rejection of her asylum application. The prime minister of Bosnia's Serb Republic resigned, but he's not disappearing Serbia's president said he wants to talk with anti-government protesters.

FBI searches John Bolton's home

Adviser turned critic: Bolton has called Trump unfit to serve and wrote a scathing book about his time in Trump's first administration. It was not clear why the FBI was searching his property.
Scrutiny: The administration said it will assess immigrant visa applicants for "anti-Americanism." The State Dept. said it removed more than 6,000 student visas for overstays and breaking the law. And National Guard troops patrolling Washington, D.C. are bored, but at least they're getting ice cream.

Rebels killed civilians in Congo, Human Rights Watch says

Massacre: Rwandan-backed M23 rebels killed at least 140 people in the eastern Democratic Republic of Congo in July, the group said. Rebels with machetes and hoes killed more than 50 in recent days, local officials said.
Africa: A Tanzania court banned live TV coverage of an opposition leader's treason trial. Somalia faces a diphtheria surge. South Sudan fired its seventh finance minister in five years. Sudan's warring factions blamed each other for an aid-convoy strike in Darfur. And Qatar's al Mansour Holdings will invest $12 billion in Botswana.

What moved my cheese?

The replacements: Americans are deeply concerned that advances in artificial intelligence will put swaths of the country out of work permanently, according to a Reuters/Ipsos poll. A Google Cloud survey shows that 87% of videogame developers are using AI agents to do some of their work. And some investors say AI gains in technology shares are overdone.
Business roundup: Wall Street isn't expressing confidence in Target's new CEO. Novo Nordisk doubled its workforce over five years because of Wegovy, and now layoffs loom. Estee Lauder warned of a $100 million hit from tariffs this year. Senator Bernie Sanders supports Trump's plan to convert U.S. grants to chipmakers into government stakes in the companies. Did Trump save Intel? Not really.

Before I forget…

A dearth of education among Rohingya refugees in Bangladesh because of U.S. aid cuts is leading to child marriages and a generation of untaught children.
A 4-mile lake in northern Pakistan, created by a mountain mudslide, is threatening to burst and unleash potentially "catastrophic" floods downstream.
Ghislaine Maxwell told a top Justice Department official in July that she was not aware of any "client list" belonging to Jeffrey Epstein and never saw Donald Trump behave inappropriately.
A French video streamer who died during a livestream after prolonged abuse and humiliation did not die of trauma or the intervention of a third party, court authorities said.
Luxury tourism in Africa is raining benefits down on many, but locals aren't among them, research shows.
Cracker Barrel dispensed with the man in the overalls who's been sitting in their logo for years. Donald Trump Jr. and other social-media users engaged in outrage.
The tale that hangs by a thread: An art historian started a petition to block France from lending the Bayeux tapestry to Britain as part of an art exchange.

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