News Our Way

The 7 things you need to know for Thursday, June 16 – The Washington Post

1

The Federal Reserve announced its biggest interest rate hike in decades.

  • The increase of three-quarters of a percentage point is the U.S. central bank’s latest attempt to control rising prices.
  • What this does: It makes borrowing money more expensive. In theory, that will make people pull back from big purchases, which would lower demand and allow prices to fall.
  • Will this cause a recession? It’s possible. Raising rates can sometimes slow economic growth too much and too fast. Here are seven tips to prepare for whatever comes next.

2

The Jan. 6 committee revealed two new investigation targets.

  • The latest: The panel got emails between Supreme Court Justice Clarence Thomas’s wife, Ginni, and a pro-Trump attorney involved in the effort to deny Joe Biden the presidency.
  • Another path: The committee released details, including video, about a group Rep. Barry Loudermilk (R-Ga.) led around the Capitol the day before the Jan. 6, 2021, attack.
  • Today’s public hearing (1 p.m. Eastern time) will center on President Donald Trump’s pressure campaign on Vice President Mike Pence to overturn the election results.

3

Long-awaited coronavirus vaccines for young kids moved closer to reality.

  • What happened? FDA advisers recommended use of Moderna and Pfizer-BioNTech shots for children under 5 — the last group in the U.S. without access to a coronavirus vaccine.
  • What’s next? The FDA is expected to follow the recommendations. If the CDC agrees at a meeting set for tomorrow and Saturday, the shots will be available by next week.

4

The U.S. will send another $1 billion in military aid to Ukraine.

  • What it includes: Rocket systems, artillery, coastal defense weapons and ammunition, President Biden said yesterday. It’s the U.S.’s biggest Ukraine aid package.
  • Why it’s needed: A Russian offensive is pummeling Ukrainian forces in the east. The scale of the package suggests that the U.S. believes the war will continue for a long time.

5

Elon Musk is facing Twitter’s staff for the first time today.

  • The setting: The Tesla CEO, who struck a $44 billion deal to buy the social network in April, will speak at a companywide meeting. Many employees are worried about his plans.
  • What else to know: Tesla vehicles running its Autopilot software have been involved in 273 reported crashes over the past year, regulators revealed yesterday.

6

Chemicals found in drinking water might be more dangerous than once thought.

  • What we’re talking about: Human-made “forever chemicals” called PFAS. They’re also found in food packaging and cosmetics, and are linked to infertility, thyroid problems and cancer.
  • What’s new? The latest science, announced yesterday, suggests that even staggeringly low levels of these chemicals can damage our health.

7

A giant tortoise believed to be extinct has been confirmed alive.

  • Where? The Galápagos Islands, off the coast of Ecuador. Fernanda was discovered in 2019 and confirmed by genetic testing as the real thing this week.
  • What it means: She’s the last of her kind, barring another discovery. So scientists are studying her while holding out hope.

And now … Juneteenth is coming this weekend: Here are four meaningful ways you can observe the holiday.

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