Experts warn more flooding might hit Nepal. And, Fed chairman to give key address

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The confirmed death toll from flash floods that hit the Nepal-Tibet border has surpassed 460 people, and more than 1,500 people are reported missing. Around 90 Americans are among the people unaccounted for, according to the U.S. State Department. The U.S. Geological Survey says a glacial collapse triggered the floods. The State Department said it would provide the region with $500,000 in aid for the rescue efforts.

Nepalese police officers watch as earthmovers clear the debris of flash flooding in Nepal’s Nuwakot district on Thursday.

Niranjan Shrestha/AP


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Niranjan Shrestha/AP

  • 🎧 Search and rescue efforts are ongoing as receding waters leave behind mud and debris, NPR’s Diaa Hadid tells Up First. Rasuwa, one of the hardest-hit regions, remains accessible only by helicopter. Authorities warn of potential secondary floods due to an overflowing lake in the area where the first glacier collapsed. Experts are concerned that the lake may burst. Nepali authorities have rescued more than 1,500 people, but it remains unclear if they are accounted for on the lists of missing persons.

Federal Reserve Chairman Kevin Warsh is set to give his first major speech as Fed Chair when he addresses economists and policymakers this morning at Jackson Lake Lodge in Wyoming. Investors were left feeling let down last month when he promised to curb inflation without outlining specific plans. Many are eager for clearer guidance today, as Fed chairs have historically used this gathering to share their economic views. Prices are climbing faster than the central bank’s target. They increased 3.7% in the 12 months ending in July.

  • 🎧 Warsh’s somewhat elusive communication style is quite different from his predecessors, so it’s unclear whether he will use today to help fill in the blanks people want answers to, NPR’s Scott Horsley says. After the last Fed meeting in July, Warsh said he was still deciding whether to focus this speech on the next few months of policy decisions or provide a more long-range perspective. Many consumers are concerned about current prices at the gas pump and in grocery stores and want answers on how the Fed plans to address these issues, Horsley says.

A federal judge heard arguments yesterday concerning the Kennedy Center board’s recent efforts to reinstate President Trump’s name at the entrance of the arts complex. On Aug. 13, the board, dominated by members appointed by the president, voted to close the main building for renovations. It also voted to put up a new sign on the entryway that would read “The John F. Kennedy Memorial Center for the Performing Arts, Restored and Renovated by President Donald J. Trump.” It said in a legal filing earlier this week that the complex could be demolished if its plans for a two-year renovation, including the return of Trump’s name, don’t advance.

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