Expert conversations to catch up on from The Brookings Brief
Inflation hits a 40-year high. New Consumer Price Index data show that inflation rose to a whopping 8.6% in May. On Twitter Spaces, David Wessel, Justin Wolfers, Jason Furman, and Wendy Edelberg discuss the latest numbers and what might come next. Prefer to read? This summary outlines five key points from the speakers.
Takeaways from the first Jan. 6 hearing. On Thursday, the Select Committee to Investigate the January 6th Attack on the United States Capitol held its first hearing. The Lawfare team hosted a Twitter Spaces conversation to share their thoughts on a historic day in Congress.
The global rise of white supremacist terrorism. The white supremacist movement has become a top counterterrorism concern in the U.S. and around the world. To assess the scale of the white supremacist threat, the movement’s capacities and weaknesses, and policies to counter it, the Initiative on Nonstate Armed Actors brought experts together for an important discussion.
Quick Hits from 1440 (6/11/22)
The US to drop COVID-19 testing for international flyers. Starting Sunday, global travelers will no longer require a predeparture negative COVID-19 test to enter the US. The end of the requirement will apply to all travelers, regardless of vaccination status. The CDC will reevaluate its decision in 90 days.
The US reaches migration deal with Western Hemisphere leaders. Called “The Los Angeles Declaration,” the pact lays out a roadmap for countries to host a large number of migrants and refugees, including legal pathways for entry and humane border management. See an overview of pledges here.
More than 450 marches against gun violence are expected today. Thousands of people are expected to attend March for Our Lives protests against gun violence in at least 45 states. The marches follow a string of mass shootings across the US in recent weeks.
Thailand kicks off marijuana giveaway after legalizing it. The country began distributing the first 100 seedlings to registered growers Friday as part of a campaign to give away 1 million free cannabis plants. Thailand is the first nation in Asia to decriminalize marijuana for medical and commercial purposes, though recreational marijuana is still illegal.
Historians identify wreck of royal warship that sank in 1682. The shipwreck of The Gloucester was first discovered off the coast of Great Yarmouth, England, in 2007, but kept under wraps until recently due to the time taken to confirm its identity and to protect the at-risk site.
From: [email protected]; The Brookings Brief;
Global Stagflation Warning: The World Bank yesterday raised the risk of a global recession, warning economies may face a 1970s-like period of stagflation, characterized by slow economic growth and rising prices. The organization lowered its global growth forecast for this year to 2.9%, down from 5.7% in 2021. Growth is expected to hover around that figure through 2024, the bank said, citing disrupted human activity, trade, and investments due to pandemic lockdowns and Russia’s invasion of Ukraine. Read the report here.
Novavax Nears Approval: An independent expert panel recommended emergency use authorization yesterday for a COVID-19 vaccine manufactured by biotechnology firm Novavax. It would mark the fourth such vaccine available in the US, pending sign-off from the Centers for Disease Control and Prevention in the coming days.
In Latin America, China steps in where US has stepped out: As China moves aggressively into the United States’ backyard – Latin America – the U.S. presence there is diminishing, shifting the geopolitics of the region. (More)
Target shares fall 2% after the company warns its profits will drop as it works to reduce inventory levels (More)
Revolving debt’s challenge to financial health and a way to help consumers pay it off: At the close of 2020, the interest rate charged on revolved credit card balances averaged 16.3%—a much higher rate than for federal student loans or loans for new or used cars. To help revolving cardholders pay down their debt more quickly, the minimum payment formula should be raised, Jennifer Tescher and Corey Stone argue. Read more
The housing crisis is hitting mobile-home parks: Lot rents are doubling or tripling because of a combination of higher demand, low supply, and an increase in corporate owners. Mobile homes are one of the biggest sources of affordable housing, and millions of Americans who live in them don’t have another option if they’re priced out. (More)