These are the headlines you Need2Know:
* **Extreme Weather Continues Nationwide:**
As torrential rains drench the East, excessive heat engulfs the West. Dangerous wildfires have forced officials to close Yosemite Park, which will remain shuttered until at least Sunday. More on SoCal weather from the [LA Times](http://www.latimes.com/local/lanow/la-me-ln-socal-heat-wave-20180724-story.html).
* **Another Bailout?**
As trade tensions escalate, farmers may get some relief. The Trump administration announced a new aid package Tuesday to ease damages caused by the latest trade policies. Through the plan, affected farmers of crops like soybeans, cotton, and dairy would be issued a collective $12 billion in aid. Reuters with [the full story](https://www.reuters.com/article/us-usa-trade-farmers/trump-to-give-farmers-billions-in-aid-politico-idUSKBN1KE1YE).
* **Trump-Cohen Recordings Released:**
CNN obtained and released on Tuesday the much-discussed secret recordings of Donald Trump and former attorney Michael Cohen. In the tapes, recorded in 2016, the pair addresses Trump’s payoff of an ex-Playboy model who claimed she had an affair with the president. More at [CNN](https://www.cnn.com/videos/politics/2018/07/24/cohen-trump-audio-recording-cuomo-vpx.cnn).
* **Demi Lovato Reportedly in Stable Condition:**
Treated with the opioid suppresant-Narcan after an overdose Tuesday, the singer, flanked by friends and family, is stable. Many celebrities took to Twitter to wish Lovato the best in her battle with sobriety. In the past, Lovato has been open about her struggle with drugs and alcohol. People [with more](https://people.com/music/demi-lovato-overdose-hospitalized-stable/).
Cheddar's Jill Wagner gets into the latest.
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President Donald Trump’s efforts to reshape the American media landscape have led to the suspension of late-night comedian Jimmy Kimmel.
Ben & Jerry’s co-founder Jerry Greenfield is leaving the ice cream brand after 47 years. He says the freedom the company used to have to speak up on social issues has been stifled
The Federal Reserve cut its key interest rate by a quarter-point Wednesday and projected it would do so twice more this year as concern grows at the central bank about the health of the nation’s labor market. The move is the Fed’s first cut since December and lowered its short-term rate to about 4.1%, down from 4.3%. Fed officials, led by Chair Jerome Powell, had kept their rate unchanged this year as they evaluated the impact of tariffs, tighter immigration enforcement, and other Trump administration policies on inflation and the economy. The only dissenter was Stephen Miran, the recent Trump-appointee.
After a late-night vote and last-minute ruling, the Federal Reserve began a key meeting on interest rate policy Tuesday with both a new Trump administration appointee and an official the White House has targeted for removal.
The Trump administration has issued its first warnings to online services that offer unofficial versions of popular drugs like the blockbuster obesity treatment Wegovy.
Albania's Prime Minister Edi Rama says his new Cabinet will include an artificial intelligence “minister” in charge of fighting corruption. The AI, named Diella, will oversee public funding projects and combat corruption in public tenders. Diella was launched earlier this year as a virtual assistant on the government's public service platform. Corruption has been a persistent issue in Albania since 1990. Rama's Socialist Party won a fourth consecutive term in May. It aims to deliver EU membership for Albania in five years, but the opposition Democratic Party remains skeptical.
