Charles Rex Arbogast/AP

The Federal Reserve's interest-rate committee decided to raise rates by 0.25%, with the fed funds rate now sitting between 0.75% and 1%. That's in line with what markets were expecting, and the S&P 500 rose 0.5% in the minutes following the decision.

Why it matters: The Fed is accelerating its pace of interest rate increases — today's decision marks just three months since the last hike, versus a 12 month interregnum before that. That the market is taking this rate hike in stride is a good sign for the economy and stocks, as higher interest rates cause investors to demand a higher return for their investments.

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AOC to speak at Dem convention

Rep. Alexandria Ocasio-Cortez during an April a press conference in Queens, New York City. Photo: Scott Heins/Getty Images)

Rep. Alexandria Ocasio-Cortez will speak at the Democratic convention next week, to give the nominating speech for Sen. Bernie Sanders on the Tuesday night, CNN first reported and Axios has confirmed.

Why it matters: Her involvement is a strategic decision to energize young progressives without tying former Vice President Joe Biden too closely or directly with her agenda.

Updated 47 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Global: Total confirmed cases as of 8:30 p.m. ET: 20,001,019 — Total deaths: 733,897 — Total recoveries — 12,209,074Map.
  2. U.S.: Total confirmed cases as of 8:30 p.m. ET: 5,085,821 — Total deaths: 163,370 — Total recoveries: 1,670,755 — Total tests: 62,513,174Map.
  3. Politics: Trump claims he would have not called for Obama to resign over 160,000 virus deathsHouse will not hold votes until Sept. 14 unless stimulus deal is reached.
  4. Business: Richer Americans are more comfortable eating out.
  5. Public health: A dual coronavirus and flu threat is set to deliver a winter from hellAt least 48 local public health leaders have quit or been fired during pandemic.
  6. Sports: The cost of kids losing gym class — College football is on the brink.
  7. World: Europe's CDC recommends new restrictions amid "true resurgence in cases."
55 mins ago - World

Protests in Belarus turn deadly following sham election

An arrest today in Minsk. Photo: Natalia Fedosenko/TASS via Getty

Protesters and security forces are clashing across Belarus tonight, with at least one person dead, hundreds injured and thousands arrested.

Why it matters: Sunday’s rigged presidential elections have yielded political uncertainty unlike any seen in Aleksander Lukashenko’s 26-year tenure. After claiming an implausible 80% of the vote, Lukashenko is using every tool in the authoritarian arsenal to maintain his grip on power.