Brief News
Supporting Ukraine – Reopening of US Embassy
In a show of support for the Ukrainian government, the US has reopened its embassy in Kyiv after it closed three months ago ahead of Russia’s invasion.
“We underscored our commitment to Ukraine’s sovereignty and territorial integrity, pledged to continue our assistance, and started working toward the day we could return to Kyiv. Now, that day has come,” US Secretary of State Antony Blinken said yesterday. Blinken also said the US will give Ukraine an additional $215 million in emergency food assistance to help the country fight its ongoing humanitarian crisis.
On the battlefield, NATO doesn’t expect significant gains for either Russia or Ukraine in the coming weeks. “I think we’ll be in a standstill for a while,” a NATO military official with knowledge of the intelligence told CNN.
Separately, President Joe Biden is scheduled to meet with the leaders of Finland and Sweden today after the two nations submitted their formal applications to become NATO members.
Domestic Terrorism – Buffalo shooting
The House of Representatives voted 222-203 to pass a bill aimed at preventing domestic terrorism and combating the threat of violent extremism by White supremacists.
The vote comes in the wake of a racially motivated mass shooting over the weekend at a supermarket in a predominately Black neighborhood in Buffalo, New York, that killed 10 people and wounded three others. The bill now heads to the Senate, where its fate is uncertain because most Republicans in Congress remain steadfastly opposed to any kind of gun control bills.
The suspected shooter, Payton Gendron, has pleaded not guilty to a charge of first-degree murder, officials said, adding that other charges are forthcoming. He is scheduled to appear in court today for a felony hearing.
Stock Market – Three-quarter-point rate hike
The stock market had a rough week, with the Dow tumbling 1,164 points, or 3.6%, its worst trading day since June 2020. Markets have plummeted over the past month as the Federal Reserve telegraphed that it would regularly hike interest rates by half a percentage point for the foreseeable future to combat persistent inflation.
Now, investors are calling for a three-quarter-point rate hike at the conclusion of the Fed’s June meeting, despite Fed Chair Jerome Powell’s assurances that an increase that high isn’t on the table. Meanwhile, Asian markets opened sharply lower today, continuing Wall Street’s downward spiral hours earlier.
Baby formula shortage – Taking new actions
The Biden administration announced it is taking new actions to attempt to alleviate the nationwide baby formula shortage, including invoking the Defense Production Act.
The act allows the government more control over industrial production during emergencies and will direct suppliers of formula ingredients to prioritize delivery to various manufacturers. In addition, President Biden announced that the Defense Department’s commercial planes will be used to import formula from abroad.
The House also passed a pair of bills aimed at addressing the nationwide formula shortage. One of the bills would provide $28 million in emergency funding to increase the number of FDA inspection staff and bolster additional resources for personnel working on formula issues.
The other bill is aimed at ensuring that families in need can continue to buy baby formula with WIC benefits during a public health emergency or supply chain issues such as a product recall.
US Women Soccer – Landmark equal pay deal
After a long fight, US Soccer has agreed to a landmark equal pay deal for women. Under the new agreement, US Soccer will become “the first Federation in the world to equalize FIFA World Cup prize money” awarded to the teams for participating in World Cups. “This is a truly historic moment,” US Soccer President Cindy Parlow Cone said.
US Soccer will share a portion of its broadcast, partner and sponsorship revenue with a 50/50 split of that share divided equally between the US women’s and men’s national teams, according to the agreement.
The deal also encompasses other areas such child care, parental leave, short-term disability, mental health impairment, travel and equal quality of venues and field playing surfaces. Earlier this year, US Soccer and the US Women’s National Team reached a $24 million agreement to end a dispute over equal pay dating back to 2019.
