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Federal Reserve likely to hold rates steady amid economic uncertainty

Quartz

qz.com › federal-reserve-rates-economic-uncertainty-1851750332

This story incorporates reporting from cnbctv18, The New York Times, The Financial Express, ABC and NBC New York.

The Federal Reserve is anticipated to hold interest rates steady during its Federal Open Market Committee (FOMC) meeting today. This decision comes at a critical juncture as policymakers assess the current…

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The Fed is likely to hold interest rates steady as Trump calls for cuts

Quartz

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This story incorporates reporting from ABC, Bloomberg L.P. and The Mountaineer.

The Federal Reserve is anticipated to sustain its current interest rates, putting it potentially at odds with President Donald Trump, who continues to advocate for lower rates. After a series of three cuts toward the end of 2024, the Fed’s…

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Trump reveals Microsoft is in running to acquire TikTok

Quartz

qz.com › trump-reveals-microsoft-is-in-running-to-acquire-tiktok-1851749807

This story incorporates reporting from ABC, Shacknews and USA Today.

President Donald Trump announced earlier this week that Microsoft is engaged in discussions with ByteDance to acquire TikTok.

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David Lynch Was America’s Cinematic Poet

The Atlantic

www.theatlantic.com › culture › archive › 2025 › 01 › david-lynch-death-career › 681347

David Lynch died yesterday at the age of 78, after a career that made him perhaps the most consequential American art filmmaker in the history of the medium. But his singular voice extended far beyond cinema, into television, music, internet fame, coffee making, furniture design, transcendental meditation, and practically any other creative endeavor you can imagine. He was a brand, though a fiercely independent one: Beginning with his debut movie, Eraserhead, in 1977, Lynch became the rare kind of artist whose last name seemed to describe an entire genre. He established a style that offered an otherworldly reckoning with our way of life, incorporating classic Hollywood storytelling, pulpy romanticism, and abstract surrealism all at once.

Lynch’s canon was so tremendous that each of his many fans and acolytes  likely had different entry points into it. There was the aggressive midnight-screening oddness of Eraserhead in the 1970s; the frightening mix of throwback folksiness and depraved sexuality in Blue Velvet in the 1980s; and the bizarre-but-incredible TV phenomenon that was Twin Peaks in the early 1990s. Others found him through 2001’s Mulholland Drive, a staggering collision of Hollywood dreamscapes, or 2017’s inimitable Twin Peaks: The Return, which exploded the form of “prestige television” that its predecessor had helped plant the seeds for. These are just a few of Lynch’s achievements in a body of work that spanned big-budget and micro-budget, highbrow and low. His output was also defined by his personal celebrity—a folksy, chain-smoking former Eagle Scout who produced art of high complexity while also rhapsodizing about the simple pleasures of eating a donut with a cup of coffee.

The first Lynch film I saw in a theater was Mulholland Drive, at the age of 15. A budding cinephile, I was only somewhat aware of the director’s titanic reputation and of the movie’s circuitous journey to the screen. (It was initially intended as a television pilot, a Twin Peaks successor that ABC ultimately rejected.) Mulholland Drive was an artistic thunderbolt like no other for me, and watching it for the first time is still probably the most transformative experience I’ve ever had in a cinema. I can palpably recall my terror during the early sequence at Winkie’s Diner, in which two men discuss a dream one had involving some ineffable monster out back, and the transfixing mystery of Club Silencio, one of Lynch’s many on-screen environments that seemed to have a foot in multiple realities. The film was at certain times a chilling representation of fear, trauma, and death, but at others hauntingly lovely and funny. It opened my eyes to what movies could be, beyond just the entertaining product they usually were.

[Read: How Twin Peaks invented modern television]

Mulholland Drive resisted easy explanation, as did all of the director’s stories. But, boiled down, many had a sweet purity to them, involving battles of good and evil and harsh realities endured by pure spirits. The director had a charmed and normal childhood, by all accounts; he was born in Montana but moved all over the country as a kid, living in Washington, North Carolina, Idaho, and Virginia at various points. Still, he would later recall moments that punctured that idyll. “When I was little, my brother and I were outdoors late one night, and we saw a naked woman come walking down the street toward us in a dazed state, crying. I have never forgotten that moment,” he once told Roger Ebert, evoking an image that would serve as Blue Velvet’s centerpiece many years after the fact.

More adult life events inspired his first feature, however. A quiet, eccentric, ink-black comedy about a peculiar young man who works at a factory in an industrial dystopia, Eraserhead is plainly Lynch’s way of processing his life as an early parent in Philadelphia. Its protagonist struggles to raise a mutant creature while also dealing with nattering in-laws and a mundane job. Most theatergoers were likely to find the film off-putting—what with its clanking, abrasive soundtrack, beautifully cloying interludes of simple songs, and unabashedly nonnarrative strangeness. Eraserhead could have died in obscurity, but it became a cult-movie sensation instead, the kind that circulates among artsy gatherings, comic-book shops, and other underground scenes, as much of Lynch’s filmography now does.

The veteran comedian and filmmaker Mel Brooks saw the movie and, somehow, it resonated with him. He then hired Lynch—over far more objectively qualified, well-known names—to direct a project that Brooks had been nurturing, The Elephant Man. It was a critical smash that landed several Oscar nominations, and Lynch’s industry ascension seemed set. His follow-up was the sci-fi epic Dune, an adaptation of the blockbuster Frank Herbert novel, for which Lynch claimed he had passed on Return of the Jedi. But it was an artistically compromised box-office failure; the director never made a big-budget film again. He instead found greater success once he’d swerved back to his more personal fascinations: His next film was the alternately astonishing and repellant Blue Velvet, a nasty noir fairytale of gangsters and abuse in a picture-perfect suburban town.

[Read: David Lynch's unfathomable masterpiece]

Lynch took many, many creative risks over the years, but Blue Velvet is the movie that perhaps best melded grim violence and white-picket-fence cheerfulness—a vision that came to characterize him in the public eye. The director continued to dig beneath idealism’s rot for the remainder of his career, and the 1990 premiere of Twin Peaks brought his worldview to a broader swath of viewers. Co-created by the writer Mark Frost, the ABC show was an uncanny soap opera, powered by a murder mystery that briefly captured the country’s imagination. Twin Peaks ran out of ratings steam quickly over the course of its initial, two-season run, but it’s since emerged as Lynch’s quintessential work. The series’ legacy was powered by both its empathy—the stark and sincere emotion the director could deploy so beautifully—and the way it transformed between various media over time. Twin Peaks evolved into a larger, decades-spanning project, encompassing the aggressively tragic and beautiful prequel film, Fire Walk With Me, in 1992, and the confounding, hilarious, and formally defiant sequel show, The Return, which premiered 25 years later.

In his later life, Lynch charged into the digital frontier in his typically singular fashion. He used grainy digital video cameras to shoot the bizarre California epic Inland Empire mostly on his own dime; he uploaded original, offbeat episodic projects and crudely animated cartoons exclusively for subscribers to his website. The director was an excellent marketer of himself, despite his preference for alienating themes and aesthetic choices: His trademark non-sequitur-filled humor and rambling sincerity connected both him and his oeuvre to generation after generation. Lynch, more than many of his peers, could expose audiences to the harshest, most discomforting imagery while also balefully commanding them to “fix their hearts or die.” If the American experience had a cinematic poet, it was him. The news that Lynch had left us was shocking only because it seemed that he’d be here with us forever.

When Crisis Coverage Became Irresistible

The Atlantic

www.theatlantic.com › culture › archive › 2025 › 01 › september-5-captures-a-crisis-becoming-must-watch-tv › 681252

In the film September 5, the ABC Sports studio at the 1972 Munich Olympics seems like an uncomfortable space in which to work, let alone think. The control room is smoky, the air conditioner barely functions, and every piece of machinery generates a frustrating amount of background noise. Yet the producers and reporters inside are more than capable of focusing on their jobs as they put together engaging, daily live broadcasts of the Games.

That changes when a militant Palestinian group sneaks into the Olympic Village and takes members of the Israeli team hostage one morning. But unlike other films that have examined the incident, such as Steven Spielberg’s Oscar-nominated Munich, September 5 holds the sprawling political implications of the attack itself at a distance; it’s a taut thriller that concentrates solely on how the ABC Sports team pivoted to crisis coverage. Given the demands of live television, the journalists had only moments to confront ethical questions as they tried to stay on the air. What happened in the crew’s cramped quarters on September 5, 1972, the movie argues, blurred the line between delivering journalism and creating spectacle—even as the team’s work made history by keeping 900 million viewers glued to their television sets.

Directed by Tim Fehlbaum, September 5, now in theaters, frequently drops the audience into the middle of the action via walks and talks, heated phone calls, and even archival footage from the actual broadcast. The addition of such real-life clips—including that of the anchor Jim McKay—gives September 5 a documentary-like feel, cleverly immersing viewers into the uneasy headspace of those inside the studio. The hostage crisis is unfolding just 100 yards away from them, but most of the employees watch the events as they’re filtered through a camera lens. Geoffrey Mason (played by John Magaro), the eager and anxious young producer leading the newsroom that day, is practically trapped in the control room.

Then again, that’s where he can best see the time; it is, in other words, where he wants to be. Time, not the hostage crisis, drives the film’s action: Verbal countdowns punctuate the dialogue; large, glowing analog clocks loom over the control-room monitors; and a crucial scene involves Roone Arledge (Peter Sarsgaard), the president of ABC Sports, aggressively negotiating with another network executive for more broadcasting slots with the live satellite. Time—and the limited quantity of it available—also tends to prevent the team from doing its best work. When Geoffrey, Roone, and Marvin Bader (Ben Chaplin), a veteran producer, begin debating whether they should be pointing cameras at where the hostages might emerge—what if one of them is killed on live TV?—they’re told by other staffers that they have only two minutes to decide. When Geoffrey sees that a German outlet is interviewing a released hostage nearby, he sends staffers to whisk the man into the ABC studio as soon as possible. He can’t give more thought to the subject’s well-being, because he can’t waste the limited programming opportunities they have.

[Read: Spotlight: A sober tale of journalism done right]

That tension between empathy and urgency is the key to September 5’s success. At a lean 94-minute length, the film mostly moves at a brisk pace, matching its characters’ feelings of stress. Yet Fehlbaum also slows the momentum in some scenes to show how the station’s crew members operate equipment: Captions are spelled out by hand. Developing a larger version of a photo takes several minutes inside a darkroom. To make footage play in slow motion, a technician gently rotates a roll of tape at a precise speed.

Such intimate moments emphasize the contrast between the typical patience inside the studio and the frenzy the team succumbs to when news breaks. The pressure to get ahead of other networks—via more updates, more sound bites, more footage, more everything—takes over. Staffers such as the station’s German translator, Marianne Gebhardt (Leonie Benesch), and the correspondent Peter Jennings (Benjamin Walker) resemble storm chasers as they charge to the front lines with camera crews in tow. The producers don’t stop to consider whether broadcasting the locations of the German police officers might affect any rescue attempts. When onlookers later swarm the militants and the hostages as they finally leave the building, the footage looks surreal—those involved in the attack have become celebrities, surrounded by cameras, hounded by crews seeking the grabbiest story rather than the sharpest one. The ABC team caves to those impulses, too, rushing the confirmation of a tip that eventually proves devastatingly inaccurate.

[Read: A #MeToo movie devoid of sensationalism]

September 5’s storytelling can occasionally become heavy-handed, with pat dialogue (“It’s not about politics; it’s about emotions,” Roone argues) and claustrophobia-inducing production design. But its unwavering focus on ABC’s small studio in Munich underlines how the journalists inside drifted toward sensational coverage. By every quantifiable metric—viewership, satellite time, other outlets citing ABC’s reporting first—they were doing their jobs well.

It’s hard to see the film’s depiction of that day and not also think about how fraught the expectations for live coverage are, for both its creators and its consumers—the predilection for drama over fact, the frequent prioritization of expedience over quality. When the movie has its characters repeatedly raise concerns over what to air, their criticisms echo long-standing questions in journalism, including how to reconcile the need for an audience with a story’s actual importance. September 5 is effective because it doesn’t claim to say anything original about the perils of reporting and consuming breaking news. It’s simply—and bluntly—showing how easily those familiar perils can be overlooked.