by Frank James
A quick guided tour of some of the morning’s most important, most interesting, or both, Washington-related stories.
President Bush insisted that Iran was still a threat to develop nuclear weapons even though U.S. intelligence analysts determined that Iran likely stopped its efforts to make such weapons in 2003.
The new intelligence estimate on Iran scrambles many political equations, with China and European nations less likely to agree to added sanctions on Teheran while, in domestic politics, it could prove troublesome for Sen. Hillary Clinton, the Democratic presidential candidate who has taken the hardest line against Iran.
Diplomacy between the U.S. and Iran is more likely now that the U.S. intelligence community has concluded that Iran probably stopped aggressively working towards creating deployable nuclear weapons. The Supreme Court will again hear arguments on the legal status of Guantanamo detainees to attempt to clarify, once and for all, whether they have habeas corpus rights under the Constitution.
Defense Secretary Robert Gates visited Iraq to determine whether the decline in violence is sustainable and the Iranian government is continuing to wind down support for insurgent groups, including by providing sophisticated improvised explosive devices that have proved deadly to U.S. troops.
Experts said the decrease in Iraqi violence is fragile and tied to three highly reversible factors—the U.S. surge, the Sunni decision to fight jihadis and the stand-down by the largest Shiite militia.
The Federal Reserve Board is likely to deliver another interest-rate cut as it tries to support the economy through a tumultuous time and make it less likely that credit is further reduced to businesses and consumers but the size of the rate reduction remains the question.
OPEC ministers refused to produce more oil as had been expected, causing oil prices to immediately rise. More Top Picks How To Choose A Tutor For A Child With Dyslexia
Senators questioned credit-card issuers about their practice of raising interest rates even on consumers who pay their bills on time and without warnings that are clearly seen and understood by customers. Senators suggested legislation to limit such actions.