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

The Wall Street Journal
Good morning,
On Hold
The wait goes on. While Federal Reserve officials don’t believe recent global economic and market turbulence will throw the U.S. economy off track, they want to be sure before they push rates higher. The central bank left short-term interest rates unchanged after weeks of market-churning debate, putting off a historic move to end an era of ultra-cheap credit amid worries about weak growth overseas. Wall Street reacted with disappointment, and the decision left uncertain yet again just when the Fed will move. But whenever the Fed decides to raise rates, one lesson remains: Cheap money alone can’t solve the world’s economic ills.
A New Strategy for Syria
The Obama administration is considering scrapping its effort to create a large-scale Syrian force to fight Islamic State as it looks for alternatives, according to officials. The reconsideration comes after fresh disclosures of failures in U.S. strategy in Syria, which is under intense scrutiny at home and abroad. The overhaul in the training mission is one of a number of important changes in the Syria policy under discussion, the officials said. The White House is also debating whether to accept a Russian proposal for talks on military activity in Syria as Moscow builds up its military support for President Bashar al-Assad’s embattled regime.
A Bad Bet
Former trader Tom Hayes waited years for his day in court. But when he finally told his side of the story, things didn’t turn out as planned. After a nine-week trial in London, Mr. Hayes was portrayed as the ringleader of a global scheme to rig the Libor benchmark to enhance the profitability of his own trading. The Journal’s David Enrich had exclusive access to the onetime star trader. “He sent me thousands of text messages, at all hours of the day and night. Eventually his wife and other family members began confiding in me, too,” writes David. Read his five-part in-depth account on the unraveling of Mr. Hayes here.
Mouth-Watering Kitchens
Rachael Ray is one of the food world’s biggest personalities—with the tiniest kitchen. “This is my vibe. This is my ideal apartment. They’ll carry me out in a box,” she says, referring to her East Village home. Across the Atlantic in Copenhagen, world-class chef René Redzepi has landed his dream: a 17th-century row house steps from his eatery. The home’s centerpiece is a newly constructed, customized kitchen area, which has streamlined oak fittings and a massive fireplace equipped with an open grill. Check out the latest trends in kitchen décor, including reclaimed wood, mixed materials, glass surfaces and hydraulic lifts. We take a look at how to incorporate them—and avoid common pitfalls.
TOP STORIES
U.S.

Vatican Disputes White House Guest List for Papal Visit

Appeals Court Rules Against Obama Administration’s Contraception Compromise
WORLD

World Leaders Condemn Burkina Faso Coup

China Stresses the Positive Ahead of Xi Jinping’s U.S. Trip
BUSINESS

The Data-Driven Rebirth of a Salesman

Dolans Cash Out of Cablevision
MARKETS

Defaults Mount in Beleaguered Energy Industry

Banks Warn of Cost Cuts Ahead
TODAY'S VIDEO
How Interest Rates Are Set
That Was Painless
The Federal Reserve has kept interest rates at near zero since the 2008 financial crisis. To raise them, it has come up with a new set of tools. Produced by Katy Burne, Christopher Kaeser, Arielle Ray and Mark Scheffler.
NUMBER OF THE DAY
142
The number of people who died last year working in U.S. oil fields, up from 112 in 2013, a rise of 27%, according to a report by the Labor Department. That preliminary figure is the same as the number of oil-field workers who died in 2012, which was the highest in at least two decades.
QUOTE OF THE DAY
He’s low in the polls, and that’s because he’s not controversial and making negative attacks. Once all this fizzles out, I think he’ll be the one standing.
Medical assistant Judith Lopez, 26, on the low turnout for Jeb Bush’s fundraising event after the CNN debate. The former Florida governor is seeking to solidify his position as the Republican Party establishment’s pick in a presidential primary race so far dominated by political outsiders.
TODAY'S QUESTION
Returning to our story above, what are your thoughts on the Fed’s rate decision? Send your comments, which we may edit before publication, to 10point@ wsj.com. Please include your name and location.
—Compiled by Khadeeja Safdar
READER RESPONSE
On yesterday’s question about the Republican debate, Bill Turner of Ohio wrote, “Carly looked like a President, surrounded by choir boys.” Steve Ellis of North Carolina weighed in, saying, “Mrs. Fiorina brought her ‘A’ game to the main stage last night, displaying her depth of knowledge and opinion on foreign affairs and domestic issues and also not lowering herself to insulting other candidates. Mr. Trump was somewhat the opposite, showing an un-presidential demeanor and a lack of specifics on how to deal with the foreign affairs questions. Strong performances from Gov. Christie and Sen. Rubio.” A.G. Sadowski of Oregon commented: “Trump should be struck out; this isn’t a show. Let’s get serious; the other candidates were articulate and talked about issues of substance and importance to the future of our country: a strong defense, immigration, taxes, etc. Rubio and Fiorina go to the head of the class!” And Kathie Bullano of Florida wrote, “CNN tried to make the Republicans appear dysfunctional, tried to get them to attack one another. The Republicans are doing a lot of talking but have no power to solve problems…Love the way Trump brought up North Korea, nobody even talks about that. I think there are too many debates, it is frustrating to talk about the same issues without getting the job done.”
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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