Axios

The most important interest rate in the country isn't the fed funds rate, which was lowered Wednesday to below 5%, but rather the yield on the 10-year Treasury note, which rose Wednesday to 3.71% from a closing level of 3.65% on Tuesday.

Why it matters: Most corporations and individuals don't borrow money overnight. When they borrow for long-term investments, including mortgages, the cost of money is priced off the 10-year Treasury yield.

Former President Trump's vow to lower food prices clashes with his love of tariffs and desire to deport migrant workers with economists warning those steps would drive up consumer prices at a time inflation is finally cooling.

Why it matters: Both former President Trump and Vice President Kamala Harris are eager to prove to voters that they have a plan to bring down food prices for voters who are experiencing sticker shock at the supermarket.

FedEx shares took a nosedive today after the package company reported a weaker-than-expected quarter.

Zoom in: Executives blamed much of its woes on soft industrial production, which took a toll on the company's business-to-business service.

• CEO Raj Subramaniam said customers are trading down, which in FedEx language means they're forgoing faster delivery for cheaper, and slower, service.

Zoom out: FedEx's comments reinforce some of what we already know — that U.S. manufacturing's been in a funk (data has shown a contraction for the past five months).

For the first time ever on Sunday night, an NFL matchup will feature teams led by two female presidents, CNBC reports.

Zoom in: Las Vegas Raiders president Sandra Douglass Morgan and Carolina Panthers president Kristi Coleman will face off in Nevada for the home opener in Allegiant Stadium.

• Among the 32 teams in the league, they are the only two female presidents.

Zoom out: The NFL has been making a push to grow gender diversity on and off the field.

• In 2023, the number of women employees in the league's office reached 42.5%, an all-time high, and 22 women now have full-time coaching positions — up 187% over the past five years.

Secret Service personnel will face disciplinary action over their failure to secure the Butler, Pennsylvania, rally site where a would-be assassin opened fire on former President Trump, Acting Director Ronald Rowe said during a Friday news briefing.

Why it matters: The Secret Service has been under bipartisan scrutiny after two apparent attempts on Trump's life this election.

First the big banks asked why tougher regulations proposed by the Federal Reserve and other agencies were so onerous. Now their key question is why banks need to face stricter rules at all.

Why it matters: An in-the-weeds proposal from a trio of financial regulators is being significantly pared back after unprecedented backlash. It was unclear whether Wall Street would take that as a win, but the fight looks like it will continue.

Former President Trump is now free to sell shares in the parent company of Truth Social, as a stock lockup provision expired after Thursday's market close, although last week he pledged that he wouldn't.

Catch up quick: Trump and some other insiders had been prohibited from selling for six months after Truth Social's parent company went public via a blank-check company.

OpenAI is expected raise around $6.5 billion at a $150 billion pre-money valuation, while also turning down billions of oversubscribed dollars, as first reported by Bloomberg.

Why it matters: This would be the largest venture capital round of all time, topping the $6 billion raised earlier this year by Elon Musk's xAI.

About 13% of U.S. homeowners with a mortgage were paying at least $3,000 a year for home insurance as of 2023, according to new census data.

Why it matters: Home insurance costs are up considerably over the last few years — even to the point of quietly driving up inflation.