- Newsmaker: Federal Reserve to Cut Interest Rate - Tomorrow, the Federal Reserve is expected to make another cut in interest rates. Steven Vames is a reporter for the "Capital Markets Report" on the Dow Jones Newswire. He predicts that Alan Greenspan will announce a quarter-point reduction to bolster the sagging economy, push down the prime rate and build consumer confidence.
- Reporter's Notebook: VFW in Crisis - President Bush will address 15,000 Veterans of Foreign Wars conventioneers in Milwaukee, Wisconsin today. That's good news for the VFW. We get the bad news from Vietnam veteran Al Syverson, past commander of the VFW Post in Manistee, Michigan, who laments the graying of the once powerful lobbying institution.
FROM THIS EPISODE
The UN Security Council is meeting today to consider the escalating violence between Israel and the Palestinians. Palestinians and the Arab states want UN observers. Israel maintains that monitors would just be a shield for Palestinian forces. With little likelihood that Europeans possess the diplomatic clout to push through a plan, does the United States represent the last chance for peace? We talk to a State Department veteran who says that time has come, hear about Europe's support for the Palestinians, and consider the status of oil as a possible weapon.