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The 10-Point: My Guide to the Day's Top News

The Wall Street Journal
Good morning,
Cut Both Ways
Donald Trump offered an expanded economic blueprint and outlined an overhaul of his tax plan on Thursday. Skeptics in both parties questioned his promise to offset steep tax cuts with significantly stronger economic growth. The new plan includes proposals such as collapsing the seven individual tax brackets into three and lowering the corporate tax rate to 15% from 35%. Mr. Trump pointed to proposals to ramp up energy production and to slash environmental and consumer-protection regulations to defray the revenue lost from his tax cuts. Meanwhile, Hillary Clinton returned to campaigning after illness and a pair of high-profile missteps took her presidential quest off message and off the road for the better part of a week. We also examine how working-class neighborhoods are throwing their support behind Mr. Trump as crumbling social institutions fuel a political backlash.

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Flawed Experiment
The world’s leading attempt at monetary easing is floundering, and its engineers are divided over how to get it on track. The Bank of Japan has tried radical measures for 3½ years to reflate the country’s sagging economy, resorting this year to negative interest rates, but growth and inflation remain elusive. Now the bank’s board, while still in favor of easing, has some members wanting to revise the methods for doing so—likely sparking uncertainty for economy-watchers. We report that Japan’s financial regulator, big banks, insurers and advisers to Prime Minister Shinzo Abe have all piled into the fray with policy prescriptions. The ferment, which comes less than a week before the BOJ meets to decide its next move, reflects a larger unease as doubt about where central banks are headed ripples through global markets.
Phone Home
The Consumer Product Safety Commission on Thursday announced a formal recall of the Galaxy Note 7 phone, which has sparked fires and a global crisis for Samsung. Faced with exploding batteries in some of its top-selling phones, Samsung already had been pursuing a global recall effort of its own, but exacerbated the situation in the way it communicated with regulators and consumers. The effort has been dogged by conflicting consumer information and Samsung’s failure at the outset to coordinate efforts with U.S. safety authorities. That led to delays in providing replacement devices and resolving the problem for customers in the U.S., where Samsung has sold 1 million of the devices and is trying to expand to narrow the gap with Apple. The CPSC said users can request a Galaxy Note 7 with a different battery, a refund or a new replacement device.
Grand Opening
If you’re thinking about visiting Washington’s National Museum of African American History and Culture that opens Sept. 24, make plans—for after Thanksgiving. The newest museum on the National Mall is stirring such a fever that when free timed tickets were offered up on its website earlier this month, more than a half-million were claimed in a couple of hours. The Smithsonian Institution is making final preparations to open the eight-story, $540 million museum on the last 5 acres available on the Mall, designed by Tanzanian-born architect David Adjaye to look like a bronze, filigreed crown. The exhibit areas offer a haunting history of slavery, segregation and African-Americans’ fight for civil rights and showcase the artistic, pop-culture and military accomplishments of black Americans. Take a look inside.
TODAY'S VIDEO
Dream Kitchen
That Was Painless
With clean lines, clever storage systems and a sleek aesthetic, custom kitchens imported from Italy are finding favor with American homeowners.
TOP STORIES
U.S.

Optimism Fades for Economic Boost By Year-End

As Blazes Rage in California, State Firefighters Push for More Pay
WORLD

President Michel Temer Declares Brazil Open for Business

Germany’s Efforts to Integrate Migrants Into Its Workforce Falter
BUSINESS

New Jersey Factory Linked to Chinese Aluminum Probe

Unilever Is in Talks to Acquire Jessica Alba’s Honest Co.
MARKETS

Deutsche Bank Is Asked to Pay $14 Billion to Resolve U.S. Probe Into Mortgage Securities

Dollar-Hedging Costs Hit Treasurys
NUMBER OF THE DAY
$300 million
The amount former New York Mayor Michael Bloomberg is donating to the Johns Hopkins Bloomberg School of Public Health in Baltimore to finance an ambitious effort to target opioid addiction, gun violence and other issues that are shortening lives and disrupting communities across the U.S.
QUOTE OF THE DAY
We were tasked to kill criminals like drug dealers, rapists, [purse] snatchers. We killed those types every day.
Edgar Matobato, a self-confessed assassin, testified in a televised hearing that Philippine President Rodrigo Duterte had ordered him and other death squad members to kill hundreds of criminals, drug users and political opponents while Mr. Duterte was a city mayor.
TODAY'S QUESTION
Going back to our story above, what are your thoughts on Mr. Trump’s economic proposals? Send your comments, which we may edit before publication, to 10point@wsj.com. Please include your name and location.
—Compiled by Margaret Rawson
READER RESPONSE
Responding to yesterday’s question on the Bayer-Monsanto deal, Arnoldo R. Cruz of Virginia wrote: “This is likely to reduce competition worldwide and, therefore approval, if it happens, is going to be a long, tough process in both the U.S. and the European Union. I have Monsanto stock because I think it is fundamentally a strong company with good growth potential, but I am not holding my breath about this deal closing.” Dave Hickie of Arizona weighed in: “Big business gets bigger, there is less competition and the consumer or farmer pays higher prices which go partially to bigger management bonuses. Why can’t someone say no?” And Stewart D. Cumming of California commented: “As a master gardener who practices organic vegetable gardening and backyard orchard culture, I am concerned by the prolific use of genetically engineered seeds for food production. The use of these types of seeds coupled with the use of pesticides and non-organic fertilizers places a strain on our environment that negatively affects sustainability.”
This daily briefing is named "The 10-Point" after the nickname conferred by the editors of The Wall Street Journal on the lead column of the legendary "What's News" digest of top stories. Technically, "10-point" referred to the size of the typeface. The type is smaller now but the name lives on.
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Copyright 2016 Dow Jones & Company, Inc. All Rights Reserved.   

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