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| Here are our top stories today: - The U.S. Dollar Index hit a 10-month high after other currencies like the Euro, Yen, and Pound fell
- A New York judge ruled that former President Donald Trump committed fraud by overvaluing his properties
- Over 50,000 ethnic Armenians have fled Azerbaijan after the country's armed forces invaded an Armenian-majority breakaway region last week
If you find this newsletter useful, please share it with your friends and colleagues. Thank you! Your faithful IDB writer, Daniel
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| 1 | | The U.S. Dollar Index rose to a 10-month high this week as other currencies like the Euro and the Japanese Yen fell. 
What the numbers say: Marc Chandler of Bannockburn Global Forex said the U.S. is "most able to cope with the [economic] challenges" posed by high interest rates and an increase in energy prices. Last week, Nomura predicted that the U.S. dollar index will continue to rise. While the U.S. Dollar Index hit its highest point since November, the Euro fell to its lowest point vs. the dollar since January, and the British pound dropped to its lowest level since March. Macro outlook: Persistently strong economic data continues to come out of the U.S., even though policymakers recently said they need to keep rates higher for longer. Minneapolis Fed President Neel Kashkari on Monday said that a "soft landing" is the most likely outcome of the Federal Reserve's fight against inflation. However, he said the Fed may still need to raise interest rates "meaningfully" to get inflation down to the 2% target. Q: Do you think the U.S. Dollar Index will continue to rise through the rest of 2023? Join the debate here. |     | |
| 2 | | A new report found that the economic output of U.S. Latinos grew from $2.8T to $3.2T from 2020 to 2021. According to the report, which was published by the Latino Donor Collaborative and Wells Fargo, the U.S. Latino economy has grown 2.5x faster than the non-Latino economy over the last decade. More: - In California, Texas, and Florida, Latinos accounted for $682B, $465B, and $240B in economic output, respectively.
- They have the largest Latino populations in the U.S. and are also the three most populous states.
- Latinos' wages and salaries grew by an annualized rate of 4.7% over the last decade, compared to 1.9% for non-Latinos, the report says.
- Still, the average Latino worker in the U.S. earns just $.80 for every $1 earned by white non-Hispanic workers.
Zoom Out: - The study claims that U.S. Latino economic output surpassed that of the U.K., India, France, and Italy.
- If they were a country, U.S. Latinos would have the fifth-highest gross domestic product (GDP) of any country in the world.
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| 3 | | Six young Portuguese people filed a lawsuit against 32 governments at the European Court of Human Rights (ECHR) over the countries' failure to act on climate change. This is the first climate lawsuit filed at the ECHR. More: - The litigants sued all EU countries, as well as the U.K., Norway, Russia, Switzerland, and Turkey.
- They claim these countries have failed to take action to reduce greenhouse gas emissions sufficiently to keep global temperatures from rising by less than 1.5 degrees Celsius.
- They say governments have failed to protect their rights to life, privacy, and family life.
- The plaintiffs, whose ages range from 11 to 24, argue that forest fires that have occurred in Portugal since 2017 are a direct consequence of the climate crisis.
Zoom Out: - A ruling in favor of the claimants would legally require the 32 governments to step up efforts to reduce greenhouse gas emissions.
- The lawsuit does not seek financial compensation.
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| 4 | | GOOD NEWS: NASA astronaut Frank Rubio and two Russian cosmonauts safely returned to Earth on Wednesday when their capsule landed in Kazakhstan. Rubio spent 371 days on the International Space Station (ISS), setting a new record for the longest spaceflight by a U.S. astronaut. More: - Rubio's trip was meant to last 180 days but the capsule that was going to bring the ISS crew back to Earth was damaged by a micrometeorite in December.
- The Russian-made Soyuz capsule that brought them back to Earth was launched into space in February as a replacement for the damaged capsule.
- Rubio said he wouldn't have agreed to a year-long mission because he missed family milestones and struggled to cope with psychological isolation.
- The crew circled the Earth nearly 6,000 times and traveled 157 million miles over the course of their year-plus journey.
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| 5 | | A New York State judge ruled that former President Donald Trump committed fraud by overvaluing his real estate holdings. Under the ruling, Trump could be liable for $250M in damages and lose properties like Trump Tower. More: - A trial to decide the extent of the damages that Trump would have to pay is expected to start next week.
- The ruling, which also applied to Trump's adult sons, canceled the Trump organization's business certificate.
- It also calls for the dissolution of some companies that control certain Trump properties and the appointment of a receiver who would manage those properties.
- New York Attorney General Letitia James, who filed the suit, wants to have Trump and his adult sons banned from being officers of a business in New York for up to five years.
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| 6 | | More than 50,000 Armenians have fled the Karabakh region of Azerbaijan, which was invaded by the country's military last week. Azerbaijani forces arrested former Armenian separatist leader Ruben Vardanyan as he attempted to enter Armenia on Wednesday. More: - Vardanyan led the separatist government in Karabakh between November 2022 and February 2023.
- Azerbaijan's border service said he was brought to the capital of Baku, where he was turned over to security officials.
- The EU sent aid to assist fleeing Armenians, and Germany called for international observers to visit the country.
- Azerbaijan said that 192 of its soldiers have been killed since the invasion began, while the Karabakh government said that at least 200 people were killed.
Zoom Out: - Karabakh, which has a majority population of ethnic Armenians, is internationally recognized as part of Azerbaijan.
- There have been two wars over the breakaway region, which is home to around 120,000 people, since the 1990s.
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 | Writer | | Dr. Daniel Smith is an Inside writer with a Ph.D. in Political Science from the University of Cambridge. Follow him on Twitter @DJS12321 or email him at Daniel@inside.com. | | This newsletter was edited by Eduardo Garcia | |
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