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“The European Central Bank lowered interest rates by a quarter point, beginning to reverse a historic series of rate increases and widening a policy gap with the Federal Reserve, which isn’t expected to follow suit for months,” the Wall Street Journal reports.

“House Republicans are accusing Rep. Troy Nehls (R-TX) of ‘stolen valor’ for continuing to wear a lapel pin for infantrymen or Special Forces who fought in active combat,” NOTUS reports. Said Rep. Ryan Zinke (R-MT), a retired Navy SEAL: “It matters. As a former commander, it matters what you wear on your uniform.

Associated Press: “On Wednesday, a Biden campaign senior adviser, granted anonymity to discuss internal strategy, said Trump’s felony conviction would become a regular part of the campaign’s message, with plans to incorporate the term ‘convicted felon’ freely in statements and in press releases — and potentially its paid advertising. But it will be part of a broader context in which the campaign will argue Trump doesn’t respect the U.

Kristen Soltis Anderson: “Voters who lean toward Mr. Trump may well conclude that having to check in with a probation officer periodically won’t impede his performance as commander in chief.” “Prison is different. The reality is that most voters are not anticipating that Mr. Trump will actually face incarceration. In my data, only one in five thinks he is likely to get prison time, and most of those are already Biden voters.

Playbook: “While no one knows for sure who the lucky Republican will be, the speculation from some on the outside seems to be that Burgum leads the pack. The former presidential candidate and wealthy businessman has helped with fundraising and donor outreach — something that hasn’t gone unnoticed by Trump.” Said one observer: “Trump likes people who are rich and have hot wives.”

Sen. Mitch McConnell (R-KY) writes in the New York Times: “It should not take another catastrophic attack like Pearl Harbor to wake today’s isolationists from the delusion that regional conflicts have no consequences for the world’s most powerful and prosperous nation. With global power comes global interests and global responsibilities.”