Hello! From CNN, I'm Jo Beck with the 5 things you need to know for Wednesday, August 14th.

Kamala Harris and Donald Trump are expected to unveil their economic policies this week. Both announcements are set to happen in North Carolina, with former President Trump scheduled to make his case today. In a preview of what we could hear, his running mate, Senator JD Vance, echoed Trump's earlier remarks about the president having a say about decisions made by the Federal Reserve.

Which is that the political leadership of this country should have more say over the monetary policy of this country. That should fundamentally be a political decision. Agree or disagree. We should have America's elected leaders having input about the most important decisions confronting our country.

Meanwhile, aides to Vice President Harris say she'll make her first major policy speech of her campaign on Friday, including a plan to lower prices. Harris hasn't said much about her economic policies, but some of her campaign seems to highlight her middle class roots.

She grew up in a middle class home. She was the daughter of a working mom, and she worked at McDonald's while she got her degree.

The policies come as wholesale inflation slowed in July, and we'll be getting a snapshot around consumer prices later this morning.

Tropical Storm Ernesto is edging closer to becoming a dangerous hurricane as it approaches the outskirts of Puerto Rico. More than 100,000 homes and businesses there have already lost power, and the National Hurricane Center said early this morning the storm had sustained winds of 70mph. Even though Wednesday's center won't actually pass over Puerto Rico, it could still dump 8 to 10in of rain over the islands. CNN's Derek Van Dam has more.

It will likely become a hurricane later this morning. Moving across Puerto Rico, the U.S. and British Virgin Islands getting absolutely pounded with large waves, strong winds and extremely heavy rainfall. That's led to flash flooding. Where is the storm going? Well, fortunately, over the next couple of days it will be over the open waters, but there's lots of warm water here that will allow for strengthening of the storm. And now the National Hurricane Center officially has this becoming a major hurricane before reaching or approaching Bermuda by this weekend.

Hunter Biden asked the US State Department for help. When he tried to make a deal for a Ukrainian gas company while his dad was vice president. That's according to reporting from The New York Times, citing documents and interviews. The times says Hunter Biden was a board member for the company and sent at least one letter to the US ambassador to Italy in 2016, when it was having issues getting approval for a project in Tuscany. It's not clear whether the US embassy in Rome tried to help, but the times reports that it appeared uneasy about getting involved and the project never broke ground. Hunter Biden's lawyer told The times that his client asked, quote, various people for only an introduction to a relevant decision maker, which never happened. The white House told the paper that President Joe Biden was not aware of his son's request.

'A state of emergency has been declared in Russia's Belgorod region after new attacks by Ukrainian forces. It's part of Kiev's surprise incursion that started last week in the neighboring Kursk region, which was the first time foreign troops have invaded Russian territory since World War two. And Ukraine now claims to control hundreds of square miles of it. Tens of thousands of Russians have been forced to evacuate their homes, while the Kremlin scrambles to contain the attack and imposes what it calls counter-terror operations in the regions.

A charity in New Zealand, has accidentally handed out candy filled with meth to hundreds of families. We'll tell you more next.

A charity working with unhoused people in New Zealand, has unknowingly given out candies filled with potentially lethal doses of methamphetamine. The Auckland City Mission says the sweets were donated by a member of the public, and then included in food parcels that were distributed to hundreds of families. But instead of containing candy, the wrappers actually hold solid blocks of meth 300 times the level someone would usually take. The charity has started contacting families who could be impacted, and police have launched a criminal investigation.

That's all for now. I'll be back with more news at 9 a.m. eastern.