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

The Wall Street Journal
Good morning,
The Fed’s Ticking Time Bomb
It’s been more than seven years since the Federal Reserve began its extraordinary measures to aid the U.S. economy and as 2016 approaches, pressure is on the central bank and Janet Yellen to better manage expectations for interest rates and the U.S. economy. According to our Fed reporter Jon Hilsenrath, bank officials are widely expected to announce Wednesday that short-term interest rates will remain near zero, leaving mid-December as the central bank’s last chance to raise rates this year. The timetable poses challenges for Ms. Yellen, including deciding whether the U.S. economy is ready for an interest-rate increase, and signaling central bank intentions without causing further market confusion.
Things That Go Better With Koch
Charles Koch has been frustrated by the tone of the 2016 campaign. The billionaire, who presides over a network of major conservative donors, said he will wait until year-end to determine how much he’ll spend on the race. However, he and his brother aren’t necessarily shopping for a candidate to support, he said. Instead, their alliance is focused on groups that advance free-market, small-government ideals. Some are more educational than political. Meanwhile, Koch Industries is in the middle of a PR campaign to rebrand the company around the products it makes, rather than its owners’ political activity.
China’s Financial Alleyways
Facing economic uncertainty, many Chinese use underground networks to send cash abroad. Tight limits on how much citizens can send out of the country have created opportunities for operations that can end-run capital controls. No official data track the underground transfers, but central-bank officials estimate that underground banks handle about $125 billion annually, and more than usual this year. Meanwhile, China shares helped knock Asian markets from their highest levels in two months, as investors grew jittery awaiting the outcome of a five-year economic planning meeting.
Music in the Head
Why can’t you get that song out of your head? Scientists call those intrusive mental song fragments “earworms” and believe there is much they can teach us about the mysteries of memory and the brain we can’t control. Studies show that the internal jukebox often starts playing during times of “low cognitive load,” such as while showering. One scientist likens earworms to “sonic screen savers” that keep the mind entertained while it’s otherwise idling. As for how to get rid of them, the more you try to suppress a mental musical image, the more it may persist. But check out these techniques that may silence them.
TODAY'S VIDEO
NASA Spacecraft Set for Historic Flyby of Saturn Moon
That Was Painless
On Wednesday, NASA’s Cassini spacecraft will do its deepest-ever dive through an active plume on Saturn’s moon Enceladus. Scientists believe that an ocean beneath Enceladus’s crust might have the ingredients needed to support life. Photo: NASA/JPL/Caltech
TOP STORIES
U.S.

FBI Lends Local Police a Hand

Fixes Urged to Help Poor Defendants in Utah
WORLD

China Says It Warned U.S. Warship in South China Sea

EU Plan to Control Migrant Flow Faces Challenges
BUSINESS

Startups Accelerate Efforts to Reinvent Trucking Industry

GM Sets Raise for Its U.S. Factory Workers
MARKETS

Hedge-Fund Priest: Thou Shalt Make Money

New York Bank Regulators Exit After Clash With Governor Cuomo’s Office
NUMBER OF THE DAY
$7.2 billion
The charge that Volkswagen has taken against third-quarter earnings to pay for a global recall of as many as 11 million vehicles.
QUOTE OF THE DAY
The link to cancer is supported by increasingly compelling research…There seem to be many reasons to eat less beef, climate change among them, but cancer is a more personal worry.
Marion Nestle, a professor of nutrition, food studies and public health at New York University who wasn’t involved in the IARC report, on new findings that say red and processed meats have the potential to cause cancer in humans.
TODAY'S QUESTION
What are your thoughts on the findings about red and processed meats? 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
Responding to yesterday’s question about the health of the U.S. economy, David Kandolha of Texas wrote, “Given the high level of stimulus and low growth, it is hard to justify classifying the economy as anything other than anemic and disappointing. The headwind caused the government’s wholesale changes to banking, medicine and energy regulations, the increasing regulatory burden to business and higher taxes are taking its toll. Low expectations are causing many to choose to withdraw from the work force further hurting growth.” Ted and Francoise Gianoutsos weighed in from Alaska: “The American economy has no health. It exists as some nebulous entity in a miasma of conflicting micro-measurements, pondering pronouncements, arcane financial instruments, and pompous political agendas whose uncoordinated interactions results in misunderstandings and consequent loss of trust and confidence. We all just muddle along, most in anxious apprehension and some in fortunate ignorance.” And Pam Pryor of Virginia commented, “At a dinner party Saturday night, our real estate friend from Washington, D.C., said, ‘The economy is NOT back. We are not seeing movement in the upper-end homes and this is always a tell-tale sign.’ We have to allow the free market to compete, take the shackles off of continual government regulations and finally, figure out a way to imbue consumer confidence. 2017 cannot come soon enough!”
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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