Plus: RFK Jr.'s CDC Is Poised To Restrict Vaccines Even Further |
Good morning,
It finally happened. After months of pressure from President Donald Trump, the Federal Reserve eased interest rates Wednesday. The central bank slashed the federal funds rate by a quarter-point to between 4% and 4.25%, and said it expects two more cuts by the end of the year amid concerns about a weakening labor market. In a note, Fitch Ratings’ head of U.S. economic research called the decision “lift-off” for a “decisively aggressive cutting cycle.” For consumers, lower interest rates mean cheaper borrowing costs and a potential drop in mortgage rates. Crypto could even get a boost, as some Americans could opt for riskier assets to earn a greater yield.
Let’s get into the headlines, |
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| ABC pulled Jimmy Kimmel Live! from the air Wednesday due to the host’s comments about conservative activist Charlie Kirk. Shortly before the Disney-owned broadcaster made the announcement, media company Nexstar, which owns a number of local ABC affiliates, said it would preempt the late-night talk show. The decision comes as Nexstar seeks FCC approval for its $6.2 billion acquisition of TEGNA, which would give it the largest share of local TV stations in the U.S. After three failed efforts to take StubHub public, cofounder Eric Baker finally got his wish Wednesday as the online ticket marketplace began trading on the New York Stock Exchange. Based on its $23.50 per share listing price, the company is valued at $8.6 billion, giving Baker an estimated net worth of $800 million. |
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 | | Robert F. Kennedy Jr. Photo by Win McNamee/Getty Images |
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| The CDC’s immunization advisory committee—whose membership Health and Human Services Secretary Robert F. Kennedy Jr. purged in June and replaced with people more aligned with his anti-vaccine views—is slated to meet starting today. On the agenda, a topic crucial to the health of the country and its pharma industry: childhood vaccinations, as well as Covid-19 shots. Since his appointment, Kennedy has been pushing anti-vaccine policies at the federal level and this meeting could prove critical for U.S. immunization policy going forward. Already, he has announced plans to award a no-bid contract to Rensselaer Polytechnic Institute to “investigate” long-debunked links between vaccines and autism, and appointed committee members like Retsef Levi and Robert Malone, who have been outspoken opponents of Covid vaccines, which saved an estimated 14.4 million lives the first year after they were made available, and Catherine Stein, who has argued against vaccine mandates. All of this puts pharmaceutical companies into uncharted territory. Vaccines are a big business: Grand View Research estimates the global vaccine market reached $88 billion last year, with the U.S. accounting for the major share of it. They’re also a safe business: Many vaccines have been around for decades, and regulations around them have been both relatively certain and grounded in evidence. That may no longer be the case. On Friday, shares of the biggest Covid-19 vaccine makers fell dramatically when Trump Administration health officials indicated they were investigating unsubstantiated reports of child deaths from the vaccine. |
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| The United States’ childhood immunization program is widely recognized as one of the greatest achievements of public health. It eradicated measles in the U.S. by the year 2000, slashed the infection rate of hepatitis B by 99%, and turned whooping cough into a rarity. Any weakening of recommendations for childhood immunizations could lead to fewer shots, and even a 10% drop in childhood vaccinations could lead to millions of hospitalizations and tens of thousands of deaths among the nation’s children, according to a recent study in the Journal of the American Medical Association. |
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| Shares of Lyft reached a three-year high as the rideshare firm announced a partnership with Waymo that will bring the autonomous ride-hailing service to Nashville. Waymo is looking to grow the market for its robotaxi rides, and has received $12 billion in investments from parent company Alphabet and others. Meta’s share price rose in premarket trading this morning after it showed off a new pair of AI-powered smart glasses at the company's Meta Connect keynote Wednesday night. The new Meta Ray-Ban Display will be able to read messages, receive video calls and follow map directions on its right lens. The glasses will be available September 30 and cost $799. |
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| A new climate economy is advancing in spite of threats to stall its progress, fueled by record clean energy investment, China’s green-tech boom, and a worldwide surge in renewable power. The second Forbes Sustainability Leaders list honors 50 individuals setting the pace for a just, sustainable economy and defining what climate leadership looks like today. MORE: Among the list’s honorees is billionaire Wendy Schmidt: She and her husband, former Google CEO Eric Schmidt, have directed a significant portion of their $2 billion in lifetime giving toward environmental initiatives. The stakes for private science funding have never been higher, with Donald Trump back in the White House and a second wave of federal rollbacks targeting climate funding and scientific independence. A small Israeli startup is stress testing AI models for giants like OpenAI and Anthropic to evaluate their capacity for malicious hacking, as the industry grapples with AI misuse. On Wednesday, the startup, which is changing its name to Irregular, announced $80 million in new funding, valuing it at $450 million. |
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| As ICE builds up its arsenal of equipment like tactical gear, guns and surveillance kits, contract records show the agency spent $78,000 on a robot capable of opening doors, climbing stairs and firing off smoke bombs during house raids. The contracts, along with purchases of drones and AI-powered facial recognition technology, have raised concerns about ICE’s spending on surveillance and arms that could be used to target the immigrant population. |
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| French luxury conglomerate Kering, parent of brands such as Gucci and Alexander McQueen, confirmed that customer data was stolen in an April cyberattack, potentially impacting millions. It’s the latest luxury company to fall victim to cybercriminals: |
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7.4 million | The number of unique email addresses hacker group Shiny Hunters, which claimed credit for the breach, told the BBC that it had | |
| Over $10,000, up to $86,000 | The amount spent by Kering customers in sample records the BBC reviewed, which contained their names and phone numbers | |
| 16% | The sales decline Kering reported in the first half of 2025 |
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| Everyone faces hardship in life, but it’s important to find ways to stay true to who you are even amid the most difficult of times. Embrace the cycle of struggle and rebirth, and focus your identity on your strengths—rather than just what you do for work. Lastly, create a sense of urgency around your goals to ensure you don’t procrastinate. |
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| GAMES | | QUIZ | | This week’s episode of a popular animated show was delayed after it faced scrutiny for satirizing conservative activist Charlie Kirk—weeks before his assassination. Which show is it? | <
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