The U.S. Federal Reserve announces its benchmark interest rate will not change this month, though it expects an increase by the end of the year, along with three increases in 2018 and two in 2019. The Federal Reserve also says its balance sheet reduction program will begin in October. (CNBC)
Searches continue for possible survivors of the magnitude 7.1 earthquake that hit central Mexico yesterday. By mid-afternoon, 52 people are rescued while at least 226 people have been killed and another 800 injured. (Los Angeles Times)(ABC News)
The National Hurricane Center predicts Puerto Rico's total rainfall through Saturday will be 20–30 inches (51–76 cm) inches with 35 inches (89 cm) in isolated areas. The Virgin Islands will receive an additional 3 to 5 inches (7.6 to 12.7 cm). (National Hurricane Center²)
Speaking to government workers at the presidential palace in Manila, President Rodrigo Duterte orders police to kill his eldest son, Paulo Duterte, if drug trafficking allegations against him are proven true, and adds that those who carried out the execution would be protected from prosecution. (Independent)