Powell to Address Economic Outlook at Jackson Hole

The Fed chairman’s comments will be closely watched for signals on how the central bank could manage a series of difficult trade-offs as it seeks to bring inflation down from a 40-year high.3 min read

• Spending Report to Show State of U.S. Consumer Facing High Inflation

Student-Loan Plan Ignites Debate Over Inflation, Budget Risks

The move to cancel up to $20,000 in student debt for millions of borrowers will have economic consequences, including on inflation, consumer behavior and government budgets, though the degree of those effects is uncertain.5 min read

• Loan Forgiveness Could Test Legal Powers
• Plan Refunds Borrowers Who Paid During Pause
• Podcast: Breaking Down the Debt Relief

Biden Urged to Act Swiftly on Ukraine Nuclear Plant

A bipartisan letter from dozens of experts and former officials called on the U.S. president to make the deteriorating situation at the Zaporizhzhia plant an administration priority and demand an immediate inspection by the IAEA.

Biden Cancels Up to $20,000 in Student Debt for Millions

The president’s executive order will provide unprecedented relief for tens of millions of Americans but is certain to draw legal challenges and political pushback.6,906Long read

• What to Know About the Student Loan Forgiveness Plan

Musk-Twitter Legal Fight Complicated by Whistleblower Complaint

Allegations by the platform’s former head of security may open new legal pathways in Elon Musk’s effort to abandon the $44 billion takeover.6 min read

• Twitter, Musk Lawyers Battle in Court
• Whistleblower Warned of Cyber Disasters for Decades
• SEC Whistleblower Awards Program Might Have a Revolving-Door Problem, Study Says

U.S. Natural-Gas Prices Hit Shale-Era Highs

The 14-year highs reached this week by U.S. natural-gas futures show the unceasing demand for U.S. shale gas across the Atlantic—and likely point to higher prices ahead.

After Six Months of War in Ukraine, Momentum Tilts Against Russia

Moscow retains a firepower advantage, but Kyiv is starting to take the initiative, while Western support for Ukraine is holding firm despite economic pain.

• Russia and Turkey’s Deepening Ties Prompt Concern
• Strikes in Crimea Disrupt Russia’s Broader Strategy
• Russia Blames Ukraine in Killing of Putin Ally’s Daughter

Mercenaries Enter Spotlight as Russian Troops Struggle in Ukraine

Wagner Group has proven indispensable in Russia’s few successes in Donbas, and now is expanding its recruitment drive to prisons as it seeks to replenish its losses.3177 min read

• Ukraine Presses U.N. Over ‘Nuclear Blackmail’ at Russian-Occupied Plant
• Russia Moves to Close Key Jewish Group as Ties With Israel Sour
• U.S. Veterans Race to Train Ukrainians as Marines

U.S., Taiwan Set for Trade, Investment Talks This Fall

The aim is to deepen ties on a range of issues including digital trade, agriculture and trade facilitation, and comes amid fresh tensions over Taiwan between the U.S. and China.

Explosion at Mosque in Afghan Capital Leaves Multiple Casualties

The attack comes on the heels of the first anniversary of the Taliban’s takeover of the South Asian country.

U.S. Approves Nearly All Tech Exports to China

A Commerce Department-led process that reviews U.S. tech exports to the country approves almost all requests and has overseen an increase in sales of some particularly important technologies, according to an analysis of trade data.

Garland Weighed Mar-a-Lago Search for Weeks

Attorney General Merrick Garland deliberated for weeks over whether to approve the application for a warrant to search former President Donald Trump’s Florida home, people familiar with the matter said.

FBI Quest for Trump Documents Started With Breezy Chats, Tour of a Crowded Closet

In June, the FBI asked for a stronger lock to be installed on a Mar-a-Lago door, behind which were government records. Then, relations between the FBI and the former president’s associates went downhill.5 min read

• FBI’s Trump Search Stirs Talk, Except by Those Involved
• Trump Pleads Fifth in N.Y. Attorney General’s Probe

Ukraine Seeks to Squeeze Russian Troops as It Girds for Battle for Kherson

Kyiv is building forces outside Kherson, even as larger battles continue in the eastern region of Donbas, under a strategy that suggests growing confidence.66 min read

• Ukraine Holds the Line in Donbas as Russian Fire Shatters Cities
• Kyiv Wins Backing to Pause Foreign-Debt Payments

Senate Passes Climate, Healthcare and Tax Bill

After more than 15 hours of amendments, Democrats passed the legislation, with Vice President Kamala Harris casting the tiebreaking vote. The measure now moves to the House.

Cooling U.S. Labor Market Weighed by Fed Hike, Inflation

The U.S. jobs market likely cooled again in July, economists estimate, as the economy faltered under the weight of high inflation and Federal Reserve interest-rate increases to cool demand.

Pelosi Says U.S. Won’t Allow China to Isolate Taiwan

House Speaker Nancy Pelosi said the U.S. would continue engaging with Taiwan, while Japan’s prime minister called on China to immediately halt its military exercises around the island.

China Fires Missiles Around Taiwan After Pelosi Visit

The Chinese military launched the live-fire drills after House Speaker Nancy Pelosi angered Beijing by visiting the island.40 min ago5 min read

• Exercises Put Major Shipping Lanes at Risk
• South Korean President Won’t Meet Pelosi in Person