Anti-Semitism: With approval of official state censors, Egyptian television broadcast the first episode of a miniseries, "Horseman Without a Horse", based upon the debunked "Protocols of the Elders of Zion". It airs at the hour that Egyptian families gather together to break their fast during the fasting month of Ramadan.
The Federal Reserve Board of Governors lowers its overnight bank-lending rate to 1.25 percent, and this bigger-than-expected rate cut signals there may be more weakness in the economy than the market expected. The Fed indicated in its statements accompanying the rate cut that concern about a war with Iraq and the thread of terrorism may be slowing consumer and business spending.
