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[h=4]5 things you need to know Thursday[/h]The biggest news to start your morning.
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Federal Reserve Chair Janet Yellen told a Senate committee in July she expects the Fed to raise interest rates this year.(Photo: Susan Walsh, AP)
1. Deadline's here: Will Fed raise interest rates?
The Federal Reserve is between a rock and a hard place<span style="color: Red;">*</span>Thursday. If it raises interest rates<span style="color: Red;">*</span>it risks dampening the hesitant economic recovery that has taken place since the economic crisis of 2008. A quarter of a percentage point boost<span style="color: Red;">*</span>likely would marginally push up borrowing costs for consumers and businesses, including mortgages, car loans and corporate bonds.<span style="color: Red;">*</span>If the Fed<span style="color: Red;">*</span>maintains the record-low rates, there is the possibility that the economy will overheat and inflation will eventually<span style="color: Red;">*</span>rise over<span style="color: Red;">*</span>the Fed's 2% target. Recent turmoil also added<span style="color: Red;">*</span>to the concerns of a hike — especially large dips in stock markets and an economic slowdown in China.<span style="color: Red;">*</span>This<span style="color: Red;">*</span>leads analysts to believe that Fed Chair Janet Yellen and her fellow economists will keep rates the same.
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When it comes to the Fed and interest rates, what they say after their rate decision Thursday could be the key to how the market reacts. Adam Shell with America’s Markets.
2. Sgt. Bowe Bergdahl in court for deserting in Afghanistan
Alleged Army deserter Sgt. Bowe Bergdahl goes to court Thursday for a preliminary hearing on charges that he deserted his post and endangered his unit in<span style="color: Red;">*</span>Afghanistan. Bergdahl was<span style="color: Red;">*</span>held captive by the Taliban for five years and then released in 2014 in exchange for five high-ranking Taliban prisoners. Military prosecutors said Bergdahl deserted his post,<span style="color: Red;">*</span>which<span style="color: Red;">*</span>led to his capture. They also<span style="color: Red;">*</span>charged him with "misbehavior before the enemy."<span style="color: Red;">*</span>Desertion can result in five years in<span style="color: Red;">*</span>prison, along with a reduction in rank and loss of pay. A conviction of misbehavior before the enemy carries the possibility of confinement for life and a dishonorable discharge.<span style="color: Red;">*</span>The hearing is on Joint Base San Antonio-Fort Sam in Houston.
U.S. Army Sgt. Bowe Bergdahl, shown in an undated photo provided by the Army, has been charged with desertion and misbehavior before the enemy. He was released by the Taliban in 2014 after 5 years in captivity in trade for 5 detainees held at Guantanamo.<span style="color: Red;">*</span>(Photo: U.S. Army, AP)
3. Cosby women<span style="color: Red;">*</span>speak out on A&E special
If you think things are bad for Bill Cosby already, it looks like they are about to get a whole lot worse. On Thursday, several women who have accused the comedian of sexual misconduct will get a<span style="color: Red;">*</span>prime-time opportunity to reveal all. A one-hour A&E special,<span style="color: Red;">*</span>Cosby: The Women Speak, will feature interviews with some of the dozens of women who said they were sexually abused by Cosby. Actress Louisa Moritz, publicist Joan Tarshis and model Beverly Johnson are among the more than one dozen women who are interviewed in the program. The accusers explain "why they have come forward, how this story began and what's next," according to A&E.
Bill Cosby in October 2010.<span style="color: Red;">*</span>(Photo: Timothy A. Clary, AFP/Getty Images)
4. Obama can move forward on the Iran deal
Starting Thursday, the Obama administration<span style="color: Red;">*</span>can take steps to implement the Iran nuclear agreement.<span style="color: Red;">*</span>Senators voted 56-42 this week in favor of bringing a resolution of disapproval opposing the Iran deal — four votes shy of the 60 Republican leaders needed to advance the resolution. The House has not taken up the disapproval resolution, opting instead to pass<span style="color: Red;">*</span>a package of three anti-agreement bills that could pave the way for<span style="color: Red;">*</span>a possible legal challenge of the Iran deal<span style="color: Red;">*</span>by House Republicans.<span style="color: Red;">*</span>The pact among Iran, the U.S., the United Kingdom, France, Germany, Russia and China, lifts economic sanctions against Iran in exchange for Tehran's agreement not to develop nuclear weapons and to dismantle part of its nuclear program over the next 10 to 15 years.
President Barack Obama, accompanied by Secretary of State John Kerry, meets with veterans and Gold Star Mothers to discuss the Iran Nuclear deal on Thursday in the Roosevelt Room at the White House.<span style="color: Red;">*</span>(Photo: Andrew Harnik, AP)
5. Suge Knight due back in court
Rap mogul Marion "Suge" Knight, no stranger to legal entanglements,<span style="color: Red;">*</span>is scheduled to appear in court on a robbery charge alleging that he and comedian Katt Williams took a celebrity photographer's camera last year, just days after the Death Row Records co-founder was shot in a nightclub. Both Williams and Knight have pleaded not guilty to the charge. If a judge orders the men to stand trial, that could mean big trouble for the 50-year-old Knight, who has already been ordered to stand trial in the murder of Terry Carter after allegedly running over<span style="color: Red;">*</span>Carter and another man outside a Compton, Calif. burger stand. A conviction on either charge could spell life in prison for Knight due to prior convictions for armed robbery and assault with a gun.
Marion Hugh "Suge" Knight sits for a hearing in his murder case in Los Angeles Superior Court July 7, 2015. Knight is scheduled to return to a Los Angeles court on Thursday, Sept. 17, 2015, for a hearing in which prosecutors are expected to lay out evidence to support a robbery charge filed against the former rap music mogul and comedian Katt Williams, who are charged with a stealing a photographer's camera in Beverly Hills in September 2014. (Patrick T. Fallon/Pool Photo via AP, File)<span style="color: Red;">*</span>(Photo: Patrick T. Fallon, AP)
Bonus: It's Constitution Day!<span style="color: Red;">*</span>Can you pass the<span style="color: Red;">*</span>government's sample U.S. citizenship test?
And, the essentials:
Weather: Most of the nation will see more summery weather<span style="color: Red;">*</span>Thursday, while the Northwest stays cool and rainy.
Stocks:<span style="color: Red;">*</span>U.S. stock futures were lower Thursday,<span style="color: Red;">*</span>as investors bet that the Federal Reserve would not raise interest rates.
TV tonight: Wondering what to watch tonight? TV critic Robert Bianco looks at<span style="color: Red;">*</span>Mat Franco's Got Magic and How to Get Away With Murder.
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