CNN 5 Things

12 PM ET: Fed Chair hints at rate cut, Secret Service staff reassigned, sea lions take over beach & more

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Democrats are still buzzing from their convention after Vice President Kamala Harris' closing speech last night. Federal Reserve Chair Jerome Powell signaled that a rate cut is coming in September. Multiple Secret Service personnel have been reassigned in the aftermath of the assassination attempt on former President Donald Trump, as new details are emerging about communication failures that day. Prisoners at a Russian penal colony have killed at least one staff member and taken others hostage. Plus, local officials have closed a California beach to make way for hundreds of sea lions.

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