5 Things to Know: September 18

Tropical Depression Imelda Flooding Parts of Texas

Houston braces for heavy flooding this morning, after Tropical Storm Imelda made landfall yesterday in Southeast Texas. Imelda is now a tropical depression and could dump 6 to 10 inches of rain across the region. That would be the heaviest rainfall Houston has seen since Hurricane Harvey.

President Trump Fundraising in San Diego, Talking Homelessness in Los Angeles

President Trump is heading to San Diego today for another fundraising luncheon following a stop in Los Angeles. Trump’s visit through the Golden State comes just a little more than a week after his administration confirmed they had sent officials to California to look for ways to deal with the state’s homeless problem. Some accused the president of using the homelessness issue to win over conservative supporters ahead of the 2020 election.

Federal Reserve May Lower Interest Rates Today

Economists believe the Federal Reserve is likely to lower interest rates for the second time in less than two months today in hopes of heading off a recession. The Fed is seen as likely to trim its benchmark rate by a quarter percentage point similar to its move in July. Fed policymakers hope a rate cut would give the economy a nudge by pushing down rates for credit cards, adjustable-rate mortgages and auto loans.

New York Banning E-Cigs

New York is now the first state to ban flavored e-cigarettes. State health officials approved a 90 day ban yesterday following an emergency executive action from Governor Andrew Cuomo. The ban goes into effect immediately but vape shops will have a two week grace period before enforcement begins.

Facebook Creates Board to Monitor Facebook

Facebook is expected to announce the first member of it’s oversight board. Facebook says the panel will work independently to review the company’s handling of content taken down on both Facebook and Instagram.