These are the headlines you Need2Know: * **Demonstrators Stop Traffic in Chicago:** At least 200 people marched down Chicago's Lake Shore Drive on Thursday to protest gun violence. The crowd marched to Wrigley Field before the Cubs game. More than 300 people were killed in Chicago this year – more than any other city in the U.S. For more on this story, [click here](https://www.usatoday.com/story/news/2018/08/02/chicago-protest-rahm-emanuel-wrigley-field-lake-shore-drive/890869002/). * **The Search for Mollie Tibbetts Continues:** The University of Iowa student has been missing for two weeks. Tibbetts was last seen in late July at her boyfriend's home in Brooklyn, Iowa. Her parents said they believe their daughter was kidnapped, and they think she is still alive. Tibbetts's family has offered a $172,000 reward. For details, [click here](http://www.chicagotribune.com/news/nationworld/midwest/ct-missing-iowa-student-mollie-tibbetts-20180802-story.html). * **JUUL Labs Responds to the FDA:** The largest e-cigarette company in the U.S. responded to concerns Thursday from the FDA that underage teens are abusing the product. JUUL, which produces "flavorful" nicotine pods, acknowledged that teens are using its e-cigarettes, but vowed to address the problem. For the latest, check out [Engadget](https://www.engadget.com/2018/08/02/juul-bluetooth-e-cigs-lock-out-teen-smokers/). * **Trump Endorses Candidate, Touts Diplomacy Skills:** President Trump endorsed the Republican Lou Barletta for state Senate on Thursday at a rally in Wilkes-Barre, Penn. Trump quickly changed the subject to diplomacy, citing his dealings with North Korea and asking the crowd, “What ever happened to diplomacy?” For more on the rally, check out the [Washington Post](https://www.washingtonpost.com/politics/in-pennsylvania-trump-tries-to-rally-supporters-behind-gop-senate-candidate/2018/08/02/260175bc-9662-11e8-810c-5fa705927d54_story.html?utm_term=.bf1aad18ce29). Cheddar's Jill Wagner gets into the latest. Subscribe to the Need2Know newsletter [here](https://theneed2know.com).

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Federal Reserve cuts key rate as shutdown clouds economic outlook
The Federal Reserve cut its key interest rate Wednesday for a second time this year as it seeks to shore up economic growth and hiring even as inflation stays elevated. The move comes amid a fraught time for the central bank, with hiring sluggish and yet inflation stuck above the Fed’s 2% target. Compounding its challenges, the central bank is navigating without much of the economic data it typically relies on from the government. The Fed has signaled it may reduce its key rate again in December but the data drought raises the uncertainty around its next moves. Fed Chair Jerome Powell told reporters that there were “strongly differing views” at the central bank's policy meeting about to proceed going forward.
US and China say a trade deal is drawing closer as meeting nears
U.S. and Chinese officials say a trade deal between the world’s two largest economies is drawing closer. The sides have reached an initial consensus for President Donald Trump and Chinese leader Xi Jinping to aim to finalize during their high-stakes meeting Thursday in South Korea. Any agreement would be a relief to international markets. Trump's treasury secretary says discussions with China yielded preliminary agreements to stop the precursor chemicals for fentanyl from coming into the United States. Scott Bessent also says Beijing would make “substantial” purchases of soybean and other agricultural products while putting off export controls on rare earth elements needed for advanced technologies.
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