Plus: Fed Cuts Interest Rates to 3-Year Low & Trump Puts To Bed 3rd Term Dreams

Good evening,

Doctors are writing unconventional prescriptions for stressed-out people: Spend time outside. Really. It’s part of Park Rx America, a nonprofit organization that aims to help providers write prescriptions for time outdoors. Since 2019, doctors have issued more than 7,000 “nature prescriptions.”

Science backs it up: Studies show it lowers blood pressure, reduces stress hormones, and boosts immunity.
The program guides providers to discuss what patients enjoy doing outside — from walking to sitting under a tree — and includes frequency and duration.

Dr. Suzanne Hackenmiller, a gynecologist in Iowa, said prescribing the outdoors feels “almost like granting permission to do something [the patients] may see as frivolous when things seem so otherwise serious and stressful.”

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🚨 ONE IMPORTANT THING

Federal Reserve Cuts Interest Rates To Lowest Level In Three Years

The Federal Reserve cut its benchmark interest rate for a second straight meeting, but Chairman Jerome Powell warned another rate cut in December is not certain — especially because the government shutdown means that key economic reports are not being released.

Powell said there are “strongly differing views” on what to do at the central bank’s next meeting. This time around, the Fed lowered interest rates by a quarter point, which brought rates below 4% for the first time in three years.
- The 10-2 vote split policymakers: one wanted an even bigger cut, another preferred to hold steady.
What that means? In general, lower interest rates make it less expensive for people and businesses to borrow money. Fed rate changes can affect credit card debt in the short term, while over time they can influence mortgage rates, car loans, and some types of student debt — though fixed-rate loans are less directly affected.

Missing part of the picture: The government shutdown, in its fifth week, has halted the publication and collection of key economic data that the Fed uses to decide rates. The Bureau of Labor Statistics did not release September’s jobs report and hasn’t collected any data in October.

“What do you do if you are driving in the fog? You slow down,” Powell said in response to a question about how the shutdown could impact a December cut.

WALL STREET VS MAIN STREET
Wall Street finished a bit lower on Wednesday, after Powell cast doubt on another rate cut. Still the U.S. stock market has been hitting all-time highs, driven by the AI boom. Nvidia, which makes AI chips, fell slightly on Wednesday after it became the world’s first company worth $5 trillion.

Main Street, however, isn’t doing as well — as major companies announce large-scale layoffs.
- By the numbers: Amazon plans to lay off as many as 30,000 workers — it’s largest cut ever, UPS cut 48,000 this year, Target plans to eliminate 1,800 corporate roles, and Paramount-Skydance plans to slash about 2,000 jobs.
- Even perceived winners in the AI-fueled economy — like Meta, the parent company of Facebook and Instagram — have recently announced layoffs, including in its AI division.

And even for people with jobs, the picture isn’t great. The JPMorgan Chase Institute reports income growth has slowed to near-decade lows, showing a softening labor market. And young people are getting hit the hardest.

Why that matters: Your 20s are typically when income grows the fastest, with workers hopping from job to job as they establish their careers, usually getting nice pay increases along the way. But with fewer opportunities, many are staying put longer — slowing their earnings growth.

🚨 ONE THING WE’RE FOLLOWING

Hurricane Melissa Kills Dozens As Historic Storm Batters The Caribbean

Hurricane Melissa tore across Jamaica on Tuesday as one of the strongest Category 5 storms in more than a century, packing winds near 185 mph and unleashing catastrophic flooding and destruction.

The death toll is up to at least 49. Floods from the storm killed at least 25 people in Haiti and eight people in Jamaica.

The Jamaican government declared the entire country a disaster area as officials began piecing together the full extent of the damage. Nearly three-quarters of the island is without power Wednesday.

“The damage here is catastrophic, I wouldn’t wish yesterday on my worst enemy,” @rj_smith_3 shows wrote on X. “Some of the scariest moments of my life.”

MELISSA’S LATEST
The storm weakened slightly as it crossed the island Tuesday afternoon. By late Tuesday night, Melissa had regained strength before moving toward Cuba, where it made landfall as a Category 3 storm on Wednesday.

Melissa is now moving to the Bahamas, bringing powerful winds, flooding rains, and storm surge.

💶 Want to help people impacted by Melissa? We put together a list of places to donate:

🚨 ONE THING TO FOLLOW UP ON

Trump Admits A Third Term Isn’t Possible

President Trump acknowledged Wednesday that he cannot run for a third term, after declining to rule out the possibility just days before. We discussed his potential moves and their legality in Monday’s newsletter.

“I have my highest poll numbers that I’ve ever had, and, you know, based on what I read, I guess I’m not allowed to run. So, we’ll see what happens,” Trump told reporters aboard Air Force One. “I would say that if you read (the constitution), it’s pretty clear. I’m not allowed to run. It’s too bad, but we have a lot of great people (who can run).”

House Speaker Mike Johnson (R-LA) the day before dismissed the idea that Trump could seek another term. The 22nd Amendment bars anyone from being elected to the presidency more than twice.

⏳ THE SPEED READ

🚨NATION

States sue Trump admin over billions in looming cuts to SNAP, food stamps (FOX)
Judge disqualifies Trump-appointed US attorney in California (THE HILL)
DOJ places on leave 2 prosecutors who said ‘mob’ of ‘rioters’ carried out Jan. 6 attack (ABC)
DOJ indicts Democratic congressional candidate Kat Abughazaleh over ICE protests (NBC)

🌎 AROUND THE WORLD

Israel resumes Gaza ceasefire after 104 Palestinians killed in airstrikes (AXIOS)
Trump announces trade breakthrough with South Korea on Asia trip (CNBC)
Polls open in Netherlands in close-run election seen as litmus test for far-right (EURO NEWS)
Sudan’s paramilitary killed hundreds including hospital patients in Darfur, residents say (AP)
Largest ever police raid in Rio de Janeiro leaves at least 132 dead (CNN)

📱BUSINESS, SCIENCE & TECH

Nvidia becomes first company to reach $5 trillion valuation, fueled by AI boom (CNBC)
Paramount to lay off 2,000 people following Skydance merger (AXIOS)
Microsoft Azure cloud service hit with outage (AP)
Musk launches Grokipedia, AI-powered alternative to Wikipedia (THE HILL)

🎬 SPORTS & ENTERTAINMENT

NFL announces Sting will headline Super Bowl-branded concert amid Bad Bunny controversy (ENTERTAINMENT WEEKLY)
‘Yellowstone’ creator Taylor Sheridan is leaving Paramount over drama involving Nicole Kidman (NY POST)
Ohtani cries out against “regrettable” inning, takes Game 4 loss to Blue Jays (ESPN)
BTS singer calls on global leaders to support culture in APEC speech (KOREA HERALD)

ICYMI FROM THE 📲

In case you missed it… Dictionary.com revealed “6-7” is the 2025 Word of the Year. What does it mean? Nothing, really. It’s popular for being viral.

A song called “Doot Doot (6 7)” by Skrilla came out last year and was used on a viral TikTok featuring basketball player LaMelo Ball, who is 6 feet, 7 inches. A boy now known as “The 67 Kid” also went viral for using the term at a youth basketball game. Teachers and parents soon had kids repeat “six-seven,” with a “so-so” hand motion.
The website says the annual pick serves as a “linguistic time capsule, reflecting social trends and global events that defined the year,” and that searches for the term dramatically rose beginning this summer.

The shortlist for the Word of the Year included: Agentic, Aura farming, Gen Z stare, Overtourism, Tariff, and Tradwife.