Today is Thursday August 1st. We're talking about the interest rate cut and what it means for you.

The Democratic debate night too and what happened to Osama bin Laden's son.

Plus, why you'll be seeing more impossible burgers, and Megan Markle has a new business.

Then hang out after the news for Think to Know Thursday's Bonus Interview all about CBD.

Welcome, welcome to the newsworthy. All the days news in less than 10 minutes. Fast, fair, fun, and on the go. I'm Erica Mandy. Thanks so much for being here. You ready? Let's do this.

For the first time in more than a decade, the Federal Reserve cut interest rates.

The Wall Street Journal reports the rate went down a quarter of a percentage point.

It's now between 2 and 2.25%, which C.N.C. calls historically low.

Of course, interest rates impact things like loans, mortgages, car payments, and

credit cards, so a lower rate means it now costs less to borrow money. The idea is to

lower the key interest rate and encourage more people to borrow and spend money and spark economic growth

This is the first cut since the 2008 financial crisis

So why now? Well, it's not really because the US economy is in serious trouble.

NBC News reports it's more of a way to cushion the economy from a global slowdown

and rising trade tensions. Investors wanted this cut, but stocks actually dropped after the Fed Chairman explained

the decision yesterday.

It's all about his wording.

Fed Chairman Jerome Powell would not promise the additional cuts in the near future that Wall Street

wanted. President Trump is not happy about this uncertainty. He wanted this to be the

beginning of a lot of interest rate cuts and said the Central Bank let us down. But some experts say the lower

interest rate already leaves little wiggle room for more of an economic boost if

another recession hits. Round 2, night 2.

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