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

The Wall Street Journal
Good morning,
A Hike—but Not Yet
Federal Reserve Chairwoman Janet Yellen pointed to solid growth in household income and a healthy labor market while signaling the central bank still expected to raise interest rates before year-end. The Fed held short-term interest rates steady, with Ms. Yellen saying there was no rush to tighten because inflation is below the 2% target, among other factors. Officials also trimmed estimates for the pace of future rate increases and economic growth. The decision to leave rates unchanged wasn’t unanimous, as three regional bank presidents dissented because they favor raising rates now. Meanwhile, columnist Grep Ip questions whether central banks have the means to hit growth and inflation targets.
Fuel to the Cease-Fire
The U.S. pressed Russia on a new plan to end continued fighting in Syria, though the two superpowers are still at odds over who was responsible for an attack earlier in the week on an aid convoy that killed at least 12 people. At a special session on Syria at the United Nations, the U.S. proposed grounding all aircraft in northern Syria to allow humanitarian relief to reach the war-ravaged region. Both Syria and Russia would have to agree to the proposal, the details of which remain unclear. Suggestions for a collective monitoring unit to track and share cease-fire violations and a transition-of-power plan were also presented by others at the U.N. meeting.
No Hedging
The Securities and Exchange Commission is accusing one of the country’s best known hedge funds and its manger, Leon Cooperman, of reaping more than $4 million in illegal profit by allegedly trading on inside information. The 73-year-old Mr. Cooperman denied the civil charges brought by the SEC, saying he lost money on the 2010 investment in Atlas Pipeline Partners. Meanwhile, federal prosecutors suspended a related criminal probe of the stock picker and his Omega Advisors until the Supreme Court hands down a decision on another pending insider-trading case, which is expected to have wide-ranging implications for the government’s pursuit of such charges.
Grounding Hackers
Savvy cyberthieves have long used the cloak of the internet to target bank accounts of unsuspecting consumers. But with a rise in thefts of airline rewards, travelers should also be vigilant with their frequent-flier accounts so hard-earned miles and points don’t fall prey, writes our Middle Seat columnist Scott McCartney. Aiming to trade or sell travel rewards online, or redeem them for tickets or other perks, thieves stole from thousands of such accounts last year. Some security experts expect mileage theft to continue rising now that embedded chips have made credit card fraud harder. Airlines are responding with revised login procedures and possible security enhancements.
New Look at Ancient Scroll
That Was Painless
Researchers at the University of Kentucky used a new digital reconstruction technique to resurrect one of the earliest known versions of the Old Testament from a Hebrew scroll that was burned beyond recognition.

One Person Shot as Charlotte Protests Continue

N.Y. Bomb Suspect Allegedly Built Devices in Plain View

Army Chief’s Retirement to Test Civilian Rule in Pakistan

Switzerland Moves Closer to Compromise Over EU Immigration

Anthem, Cigna Accuse Each Other of Merger Breach

Apple Looking to Bolster Car Project

Stocks Rally on Hopes for Growth

Postal Savings Bank of China Raises $7.4 Billion in IPO
Hillary Clinton’s support among voters in a new Wall Street Journal/NBC News poll. The Democratic nominee leads Republican Rival Donald Trump by 6 percentage points.
We believe it was a fair price, and we now just lowered it by half.
Heather Bresch, chief executive of Mylan, in a congressional hearing on price increases for the EpiPen allergy treatment.
What do you think of Ms. Bresch’s testimony before Congress on the cost of the popular allergy treatment? Send your comments, which we may edit before publication, to Please include your name and location.
—Compiled by Yogita Patel
Responding to yesterday’s question on the congressional hearing of Wells Fargo CEO John Stumpf, Richard Strickland of Indiana wrote: “In general the hearings are a waste of time and taxpayer dollars...The one thing they did correctly was to ask where the CFPB was during the last five years. The Senate should be focused on cleaning their own house.” Larry Morris of New Mexico commented: “I am not a fan of Sen. Elizabeth Warren, but I believe her criticism of Mr. Stumpf was spot-on. It shocks the conscience to suggest you’re taking responsibility by firing the front-line employees who were incentivized to commit fraud while retaining your job and the rewards of the fraud.” And Kevin Black of Nebraska shared: “Once again, I’m sure community banks like mine will end up paying for the sins of the megabanks. They’ll pay a nominal fine and move on while the rest of us community bankers—who actually know and respect our customers—will pay in the form of increased, onerous and costly regulations that will end up harming the consumer.”
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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