 U.S. inflation reached 9.1% year-over-year in June, the highest such rate since December 1981, according to the Labor Department. The rate was higher than economists expected, surging past May's 8.6% consumer price increase. The high inflation, driven by the cost of food and fuel, is likely to precede another 0.75 percentage point increase in federal interest rates when the Federal Reserve meets later this month. More: - Fed Chairman Jerome Powell aims to use rate increases to slow demand and bring down prices, though this also brings with it the risk of a recession.
- Stocks fell following the release of the Labor Department's report.
- Still, there are signs that inflation may be starting to cool off. The price of oil, industrial metals, lumber, and other commodities fell at the end of Q2.
- Inflation over the last 18 months has been blamed on a faster-than-expected rebound from pandemic restrictions, increased demand, and low Federal Reserve interest rates.
- The war in Ukraine has contributed to higher energy and food prices worldwide.
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 The Austin American-Statesman on Tuesday released previously-unseen video from inside Robb Elementary School in Uvalde, Texas, during the mass shooting there on May 24. The footage shows officers entering the school minutes after bursts of gunfire can be heard from a classroom down the hallway. Some officers immediately moved down the hallway toward a classroom; after gunfire is heard, one officer grabs the back of his head and they all retreat. The Statesman published a four-minute edit of the 77-minute recording. More: - The video contains no images of students in the classroom, and it remains unclear how many surviving children were in the classroom with the shooter following the initial rounds of gunfire.
- The Statesman said it removed the sound of children screaming from the video.
- The initial officers are joined by more heavily armed and shielded agents 15 minutes after the original officers retreated.
- Four additional shots are heard 45 minutes after officers first arrived on the scene, though they continue to wait in the hallway.
- The exact roles of the different agencies involved in the response, including which orders were given and when, remain unclear.
- Following the release of the video, Uvalde residents confronted city officials at a public meeting on Tuesday night. The officials criticized the Statesman for releasing the video before it could be viewed by family members of the victims. One resident replied: "Rather than attacking the media, y'all should attack those cops."
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 Twitter is suing Elon Musk in an attempt to force him to comply with the contract he signed to purchase the social media platform for $44B. In a lawsuit filed in Delaware's Court of Chancery, Twitter accuses Musk of operating in bad faith and disparaging the company that he presumed to purchase. The lawsuit also claims that Musk is attempting to get out of the deal because of the market downturn, and suggests that his focus on spam and bots on Twitter were pretexts. More: - Musk has not commented on the lawsuit other than tweeting "Oh the irony lol" shortly after it was filed. He also tweeted two rolling-on-the-floor-laughing emoji in response to a joke about the lawsuit made by the creator of Dogecoin.
- The lawsuit says Musk's behavior and tweets about Twitter have potentially caused "irreparable harm" to the company.
- Musk's legal team has 20 days to issue its response under Delaware law. However, the two sides could still come to an agreement on a different price, or Musk could still be allowed to walk away by paying a $1B breakup fee.
- However, the lawsuit as filed does not seek the breakup fee – it aims to force him to follow through on the deal's original terms and purchase Twitter for $44B.
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 GOOD NEWS: Scientists in China have discovered a way to use light to remotely control white blood cells, which could be utilized to help treat inflammatory diseases. The researchers used light-controlled neutrophils to control the white blood cells of living fish and guide connections between cells. The process could be used to target drug delivery and remove cell debris with greater precision than is currently available. More: - The scientists found that this process enables the neutrophils to act as "medical microbots" and avoids setting off an immune reaction in the patient.
- The authors of the study say that the microbots can be actively controlled "just like driving a vehicle" and could prove helpful in targeting tumors and blood clots.
- The research was published in the journal ACS Central Science.
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| A message from ARGYLE Nearly half (49%) of 1099 workers reported being rejected for financial products they could afford. Why? More people are self-employed today than they have been in 20 years, with the trend expected to continue. What’s more, independent workers are pulling income from multiple, often diverse, gigs, largely due to rapid technological advancements and lightning bolt global events. Yet, our legacy financial infrastructures cater to traditional W2 workers with single, full-time jobs. The industry inadvertently marginalizes self-employed, 1099 workers, who struggle to access financial products like credit cards and loans. Our whitepaper breaks down what the lending space needs to know: - The loss at hand, and the loss to come, from overlooking the 1099 worker
- The needs and wants of the modern gig worker
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 Major social media and content platforms fail to protect LGBTQ users from harassment and discrimination, according to a report from the advocacy group GLAAD. Facebook, Twitter, Instagram, TikTok, and YouTube all scored below 50 out of a possible 100 on GLAAD's Social Media Safety Index, primarily for what the group perceived as a failure to uphold their own policies against harassment. While all the platforms received some points for having policies in place aimed at protecting LGBTQ people from hate speech, the report found misinformation about the community on the platforms and argued that users still did not have enough control over their own data. More: - The report gives recommendations to each platform. For example, GLAAD encouraged Facebook to implement a policy banning misgendering and deadnaming (something some platforms already do), and it wants YouTube to make more of an effort to prevent the demonetization and removal of content from LGBTQ creators.
- This is the second year GLAAD has released its report, but the first time it gave companies individual scores.
- Facebook earned the highest mark, with 46.3. YouTube had 45.11, followed by Twitter with 44.7, Instagram with 43.38, and TikTok at 42.51.
- Two-thirds of LGBTQ people said that they've experienced some form of hate-based online harassment, according to an Anti-Defamation League survey.
- Only 38% of non-LGBTQ individuals say they have faced similar harassment.
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 Wildfires are raging in parts of western Europe amid a heat wave that is sending temperatures above 100°F. Hundreds of people have been evacuated in Portugal, which has seen more than 20 wildfires break out over the last week. Several wildfires in Spain and southwest France are also threatening villages and forest land. More: - Several fires are raging in Portugal near Leiria, about 90 miles north of Lisbon, where temperatures hit 113°F this week.
- Nobody has died from a forest fire in Portugal since 2017, when more than 60 people were killed in four blazes.
- The two fires in France have thus far burned more than 4,400 acres and forced 6,500 people to evacuate.
- Thousands of miles away, in southwest Turkey, a fire broke out near the Aegean Sea, and the local province dispatched water-dropping helicopters and planes to fight the flames.
- The European Union says that climate change is responsible for increased natural disasters and warned several nations last week to prepare for consistent drought, heat, and fires.
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- A Secret Service agent accompanying President Biden to Israel was sent back to the U.S. earlier this week after being briefly detained by Israeli police following a "physical encounter."
- A statue of civil rights activist and educator Mary McLeod Bethune was added to the U.S. Capitol statue collection on Wednesday. Bethune becomes the first Black American to have a statue in the National Statuary Hall.
- Water demand in Los Angeles fell by 9% year-over-year in June following increased restrictions amid a drought. The city's Department of Water and Power said it was the lowest water usage of any June on record.
- Washington Commanders owner Dan Snyder has thus far avoided giving testimony to the House Oversight and Reform Committee regarding a workplace harassment investigation, as he has parked his yacht overseas to prevent being served with a subpoena.
- A supermoon, the third one so far in 2022, will be visible in the night sky this week. It's referred to in the Old Farmer's Almanac as a Buck Moon, since it appears in July, the month when the antlers of male deer "are in full-growth mode."
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 |  | Jonathan Harris is a writer and editor who lives in Los Angeles. |  | | Editor | Eduardo Garcia is a writer and editor based in New York. He is the author of "Things You Can Do," an illustrated book about climate action. Bylines in The New York Times, The Guardian, Slate, Scientific American, and others. In one of his previous lives, Eduardo worked as a Reuters correspondent in Latin America for nearly a decade. | |
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