The Fed left the benchmark interest rate unchanged while reiterating a plan to gradually lift borrowing costs. U.S. stocks were mixed and Treasuries fell after the announcement. —Josh Petri

Here are today's top stories

The U.S. imposed sanctions on two Turkish government officials over the continued detention of an American pastor who President Donald Trump has said should be released.

Trump renewed his call on Attorney General Jeff Sessions, who has recused himself, to halt Special Counsel Robert Mueller’s probe of potential collusion between Russia and Trump's campaign, ramping up attacks as the president's former campaign chairman goes on trial.

Short-term health planswith a history of consumer complaints will get a larger role under Trump's proposal to expand alternatives to Obamacare. The plans are cheap for a reason.

Tesla will look to China for partial funding of its first factory there. The company reported earnings after the close, saying it burned through less cash last quarter than analysts expected.

Wells Fargo agreed to pay $2.09 billion to settle a U.S. probe into the bank's creation and sale of mortgages that allegedly misstated buyers’ income.

It may be the end of the global housing boom. After a years-long surge, property prices in global capitals are starting to head lower. From Sydney to Toronto, here’s a look at what’s ahead. 

What's Joe Weisenthal thinking about? The Bloomberg news director can't help but look forward to Friday's jobs report. It's a cliche by now, but he still thinks wage growth will probably be the most important thing to look at.

What you'll need to know tomorrow

• Amazon's the biggest player in online shopping, but it's not always the best.
• Apple's Tim Cook called tariffs a "tax on the consumer."
• Julian Assange may leave the Ecuadorian embassy in London for the first time in six years.
• Wall Street is adding a new "Weinstein clause" before making deals.
• Americans think NASA should focus on climate change. Trump doesn't.
• This mortuary company stays ahead of debt by digging a grave before someone dies.
• The strange tale of Tesla and the phantom shooter.

What you'll want to read tonight

Starwood Fans Are Losing Sleep Over Marriott's Loyalty Program

Marriott has spent the past two years trying to calm anxious Starwood Preferred Guests. It’s made progress, but the real test will come Aug. 18, when Starwood's program and Marriott Rewards are finally combined. Its success depends on winning over a group of customers who’ve always viewed Marriott members as dupes.

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