Crucial debate for Castro, Fed cuts rates, the market for Amari: Your Wednesday evening roundup

If Julián Castro doesn't step it up tonight, he won't get a ticket to the next Democratic Party presidential debate at Texas Southern University in September. That would be a lethal blow to chances of winning the nomination for the White House, says political columnist Gromer Jeffers Jr..  [Evening roundup]( 07/31/2019 By Wayne Carter Good Evening! Here is a look at the top headlines of the day. 🔎 Prefer the online view? It's [here.]( Julián Castro talks with people protesting U.S. immigration policy on July 19 outside the New Hampshire State House in Concord, N.H. Castro, the star of the first Democratic Party debate in Miami, needs a strong performance in tonight's debate to keep his candidacy viable. (Elise Amendola/The Associated Press) ELECTIONS 2020 [What Julian Castro needs to do in tonight's debate, otherwise it's curtains for his campaign]( From political columnist Gromer Jeffers Jr.: Julián Castro is fighting for survival. In short order, he needs an uptick in his popularity to remain a viable Democratic Party presidential candidate. If Castro doesn't step it up, he won't get a ticket to the next Democratic Party presidential debate at Texas Southern University in September. That would be a lethal blow to chances of winning the nomination for the White House. His first step toward greater relevance begins tonight, when the former Housing secretary and former San Antonio mayor [participates in the climax of the second round of Democratic Party presidential debates.]( Not only does Castro have to perform well against rivals like former Vice President Joe Biden and Sens. Kamala Harris of California and Cory Booker of New Jersey, but he also has to figure out how to apply the energy from a strong performance to his overall campaign. Back on the trail: Beto O'Rourke [dropped in on Trump country Wednesday]( to try to drum up support coming off a stronger debate performance Tuesday night. ADVERTISEMENT BUSINESS [Fed cuts interest rates for first time since financial crisis]( The Federal Reserve reduced interest rates for the first time since the financial crisis and hinted it may cut again this year to insulate the record-long U.S. economic expansion from slowing global growth. Central bankers voted, with two officials dissenting, [to lower the target range for the benchmark rate by a quarter-percentage point to 2%-2.25%.]( The shift was predicted by most investors and economists, yet will disappoint President Donald Trump, who tweeted on Tuesday he wanted a "large cut.'' "In light of the implications of global developments for the economic outlook as well as muted inflation pressures, the committee decided to lower'' rates, the Federal Open Market Committee, led by Jerome Powell, said in a statement following a two-day meeting in Washington. It also noted that "uncertainties" about the economic outlook remain. Officials also stopped shrinking the Fed's balance sheet effective Aug. 1, ending a process that very modestly tightens monetary policy and was previously scheduled to come to a close at the end of September.   Editorial: Cut interest rates? [Not at the high price of the Fed’s independence.](   Also: ABC, CBS, NBC, FOX have sued Locast, [the AT&T-backed service that streams TV for free.](  SPORTS ['We're damn sure not going to be a market-setter': How the Cowboys are impacted by Michael Thomas' new deal]( From Cowboys beat writer David Moore: Now you know why Amari Cooper was in no hurry to get a new contract. Michael Thomas has gone where no receiver has gone before. His agreement with New Orleans on a five-year, $100 million extension not only resets the receiver market, it complicates the Cowboys' goal to retain Cooper, Ezekiel Elliott and Dak Prescott without compromising the club's ability to keep the remainder of its nucleus. Will Cooper equal or surpass what Thomas received from the Saints? No, although it will be interesting to see how that $61 million guarantee factors into the negotiations. The price for Cooper was always going to be high. The club didn't give up a first-round pick to acquire him simply to let him walk in free agency 16 months later. [Cooper and agent Joel Segal entered these discussions with leverage.](  Veteran wisdom: Jason Witten understands optics of Ezekiel Elliott's visit to Cabo, [but he isn't worried about his teammate's preparation.](  ADVERTISEMENT (Robert W. Hart/Special Contributor) PHOTO OF THE DAY Eleven-year-old Ernesto Ramirez reads to shelter dog Ann during the "Kiddies Paws to Read" event Wednesday at the Arlington Animal Services shelter. From Monday until Wednesday, children were encouraged to share a book with animals at the shelter. [Visit dallasnews.com/pets]( for more about animals and their humans. EDITORS' PICKS - Law enforcement: The chief of the Texas Department of Public Safety's intelligence and counterterrorism division was fired Tuesday [after his arrest on a sexual assault charge.]( - Space race: The Container Store has opened its first Custom Closets location in Los Angeles, [and the second one will open soon in North Dallas.]( - Mother killed: Police still have no suspects in the birthday-party shooting of a Forest Hill mother of eight [who died earlier this week in a hospital.]( FINALLY... [Parkland is doing better financially, thanks to a change in the way feds count]( From The Dallas Morning News Editorial Board: A subtle shift at the federal level is changing how hospitals are reimbursed for treating low-income patients. And for hospitals that serve a high number of uninsured or low-income patients, like Dallas’ Parkland Memorial Hospital, this change is a welcome improvement. While the federal and state health care scene is complicated, we applaud the Centers for Medicare & Medicaid Services for better responding to the needs of community hospitals. The difference is hard to discern, [but it has a significant impact on hospital funding.]( 👋 That's all for this afternoon! For up-to-the-minute news and analysis, check out [DallasNews.com](. Share the love! If you like this newsletter, please forward this email to a friend and [check out our other newsletters here](. Do you have feedback? Send your thoughts, questions, praise and corrections to [newsletter-feedback@dallasnews.com](mailto:newsletter-feedback@dallasnews.com?subject=). STAY CONNECTED WITH US [Facebook]( [Instagram]( [Twitter]( [LinkedIn]( [Tumblr]( [Reddit]( [OTHER FREE NEWSLETTERS]( [Unsubscribe]( | [Dallasnews.com]() | [Subscriber login]() | [Privacy Policy]( | [Contact]( You received this message because you signed up for this Dallas Morning News newsletter or it was forwarded to you. 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