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Tuesday's Top Stories: Americans Freed From Iran, Fed Rate Hikes, UN General Assembly

Catch up with today's top stories in less than five minutes.

Want to catch up with the news quickly? Here are the top stories from Tuesday, September 19, 2023.

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1. Americans freed from Iran land in U.S.

The Americans who were detained in Iran arrived home Tuesday, tearfully greeting their families. The five were released in a deal reached by President Joe Biden, which unfroze nearly $6 billion in Iranian assets in exchange for their safe return.

Three of those who were part of the deal — Emad Shargi, Morad Tahbaz, and Siamak Namazi — had all been imprisoned for more than five years. Namazi had been detained since 2015.

"Today, five innocent Americans who were imprisoned in Iran are finally coming home," Biden said in a statement. He reminded that "American passport holders should not travel" to the country "due to the risk of kidnapping and the arbitrary arrest."

2. Fed likely to pause rate hikes in September

Stock markets remain muted ahead of the Fed’s September FOMC meeting, scheduled for Sept. 19 and 20.

In spite of a disappointing 2022, Wall Street has seen a bull run in 2023. The inflation rate has steadily declined since June 2022, and currently sits well above the Fed’s 2 percent target level. The consumer price index reaching a three-month high in August, which was primarily due to higher energy prices.

3. United Nations General Assembly kicks off, Biden calls for Ukraine support

The 78th Session of the Unite Nations General Assembly began in New York on Tuesday. President Biden made an impassioned speech in support of Ukraine, asking world leaders to stand firm in their support of the nation.

“If we allow Ukraine to be carved up, is the independence of any nation secure? I respectfully suggest the answer is no. We have to stand up to this naked aggression today and deter other would-be aggressors tomorrow,” he said.

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