Proposals to reform the CNC should have included its current members, and imputations about the unfairness of the process were off the mark, some observers of Wednesday’s House of Bishops meeting said (News, 18 September).

On Thursday, the longest-serving central member of the Crown Nominations Commission (CNC), Christina Baron, criticised the bishops for not consulting CNC members before drawing up proposals.

“The way in which these proposals came forward without any consultation, without even any notice, has made all the elected members of the CNC very angry,” Ms Baron said.

The message to CNC members seemed to be, she said, that their work “is not respected, is not valued, that we are not taken seriously”.

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Proposals to reform the CNC should have included its current members, and imputations about the unfairness of the process were off the mark, some observers of Wednesday’s House of Bishops meeting saidhttps://t.co/iUbX4Efinp

— Church Times (@ChurchTimes) September 20, 2024

The start of a Fed rate-cutting cycle is a huge moment for the international financial system. Central banks in emerging markets can loosen a little without fearing a run on their currencies. Indonesia’s central bank has stopped defending the rupiah and dared to cut rates. India’s Sensex stock index hit an all-time high on Thursday as markets anticipate a new world of abundant liquidity and surging inflows of foreign funds.

The Fed’s jumbo half-point cut is transmitted instantly to the 40-odd countries and currency boards linked to the US dollar in one way or another. These regions were forced to import the most aggressive tightening cycle in 40 years through their exchange rates, whether or not their local economies were synchronised with the US cycle….

But there is a large caveat to this rosy global picture. It all depends on whether the Fed is ahead of the curve and delivers a soft landing; or whether it is behind the curve, has misjudged the delayed effects of past tightening, and has already let recessionary dynamics take hold.

These binary outcomes can have drastically different consequences for the world.

Mislav Matejka, equity strategist at JP Morgan, says there have been four soft landings and eight recessions in the last 12 Fed cycles. The “softs” delivered stock market gains of 20pc or so over the following year. The “hards” led to months of sell-offs, snowballing into wipeout crashes in 2001 and 2008. This time the starting point is stretched after a 26pc rise in Wall Street’s S&P 500 index over the last year.

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Enjoy the torrid Fed rally, but the world is not out of the woods yet https://t.co/of6TpXposG

— Felix Randal (@felixrandal) September 20, 2024

On July 21st Matt Roan, chair of the Cumberland County Democratic Committee, hosted a meeting with volunteers. The event took a turn when Mr Roan stopped to read a statement from Joe Biden announcing his departure from the presidential race. “There was this sort of sense of sadness—and then immediate hope,” Mr Roan recalls in his office, which overlooks the Pennsylvania state capitol. The activist speaks highly of Mr Biden but acknowledged that “things were not looking good” at the time. The rise of Kamala Harris attracted a surge of volunteers to a county that favoured Donald Trump by around 18 points in 2016 but only 11 points in 2020. If such improvements hold there and in other areas like it, Ms Harris would probably win the state and the presidency.

Both campaigns see Pennsylvania as a fulcrum of the 2024 election, and for good reason. The Economist’s forecast model suggests that the state—with its 19 electoral-college votes, the most of any swing state—is the tipping-point in 27% of the model’s updated simulations, meaning it decides the election more often than any other state. Mr Trump wins only 7% of the time when he loses the Keystone State. Indeed, he narrowly won Pennsylvania in 2016, and then he lost by 80,000 votes out of nearly 7m cast in his unsuccessful re-election bid four years later.

No state has drawn more money. Of the $839.5m that the Harris campaign and allied organisations already have spent or committed to advertising, $164.1m has gone to this state of 13m people. The less well-heeled Trump operation has directed $135.7m of $458.8m to Pennsylvania. Turn on the television, watch a YouTube video or listen to the radio inside Pennsylvania and it won’t be long before spots for Ms Harris or Mr Trump begin to play.

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The battle for Pennsylvania is on.

For all the money both presidential candidates are pouring into the swing state, the race remains extremely close https://t.co/Su2xduW2Pr 👇

— The Economist (@TheEconomist) September 20, 2024

Almighty God, who didst call thy faithful servants John Coleridge Patteson and his companions to be witnesses and martyrs in the islands of Melanesia, and by their labors and sufferings didst raise up a people for thine own possession: Pour forth thy Holy Spirit upon thy Church in every land, that by the service and sacrifice of many, thy holy Name may be glorified and thy kingdom enlarged; through Jesus Christ our Lord, who liveth and reigneth with thee and the Holy Spirit, one God, for ever and ever.

20 September 1871: death of the Rt Revd John Coleridge 'Coley' Patteson, aged 44. The first Bishop of Melanesia (consecrated 1861), he was killed on the island of Nukapu in what is now the Solomon Islands. #anglican #153years Biography: https://t.co/chTCB7hAHx pic.twitter.com/nuvCGtGzcL

— AustralianAnglican (@AustAnglican) September 19, 2024

Almighty God, Who hast enabled Thy faithful soldiers and servants to play the man, to endure hardness, to love mercy, to fight the good fight of faith, and to refuse no service in the Name of Christ: grant unto us whom Thou hast called to serve under our Saviour’s banner a single heart to spend and to be spent for Thee and for those whom He has loved even unto death; through the same Jesus Christ our Lord.

–Frederick B. Macnutt, The prayer manual for private devotions or public use on divers occasions: Compiled from all sources ancient, medieval, and modern (A.R. Mowbray, 1951)

Happy Friday 🌿🌺🌿 #FlowereOnFriday pic.twitter.com/AL9fRptqoe

— Margaret O'Connell🌻 (@MargaretOC6) September 20, 2024

Now when they had passed through Amphip’olis and Apollo’nia, they came to Thessaloni’ca, where there was a synagogue of the Jews. And Paul went in, as was his custom, and for three weeks he argued with them from the scriptures, explaining and proving that it was necessary for the Christ to suffer and to rise from the dead, and saying, “This Jesus, whom I proclaim to you, is the Christ.” And some of them were persuaded, and joined Paul and Silas; as did a great many of the devout Greeks and not a few of the leading women.

–Acts 17:1-4

Another lovely morning. This was 06:30. pic.twitter.com/FmcXhFZbdr

— Steve Carter (@HighlandRampage) September 20, 2024