3 Things To Know Today

Vintage movie countdown, illustration

Photo: Science Photo Library RF

1 Putin Threatens To Go Nuclear: "This Is Not A Bluff"

Russian President Vladimir Putin is upping the ante in a major way as he dives deeper into his aggression against Ukraine. A series of gains on the part of the Ukrainians has now led to Putin announcing a partial mobilization of his country’s military. What does that mean? For now, calling up military reservists – to the tune of 300-thousand. But as Ukraine continues gaining ground in the East, Putin is not only pushing for a so-called referendum vote to annex the areas Russia invaded earlier this year, he’s threatening to go nuclear if Ukraine tries to get those areas back. Vowing that Russia would use all the means at its disposal to protect what it considers its “territorial integrity” and that includes nuclear weapons. “We have lots of weapons to reply,” he warned. “It is not a bluff."

2 Hurricane Fiona Is Now Category 4

Fiona is now a major Category 4 hurricane. The National Hurricane Center says Fiona now has maximum winds of 130 miles-per-hour after it blasted the Turks and Caicos Islands yesterday, knocking down trees and causing power outages. At last check, the eye of the hurricane is now about a 100-miles north of the islands, and has intensified over warm waters in the Atlantic. The hurricane is expected to reach Bermuda by tomorrow. In her wake? Power to hundreds of thousands has been knocked out in the Dominican Republic and in Puerto Rico, nearly 1.7-million residents are still without power, according to poweroutage.us.

3 Fed Likely to Deliver More Economic 'Pain' with Another Significant Interest Rate Hike

The Federal Reserve is set to escalate its battle against inflation this week with another substantial interest rate hike, risking deeper economic "pain" for millions of households and businesses nationwide. With inflation unexpectedly accelerating in August and the job market still growing at a healthy clip, the U.S. central bank is widely expected to approve another 75-basis-point rate hike at the conclusion of its two-day meeting on Wednesday. Some investors are even betting on a full-percentage point move as the Fed faces mounting pressure to tame demand and slow surging consumer prices. But Wall Street is more focused on what policymakers signal could come next in its inflation fight: the Fed will release its quarterly forecasts from June, providing insight on where it sees the U.S. economy headed over the next few years. The projections are expected to show an even more aggressive path of interest rate hikes that will likely chip away at economic growth and cause the unemployment rate to climb higher.


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