AI Summary
5 min readInflation in the United States cooled to a 3.5% year-over-year increase in June, down from the annual rate recorded in May, and the slowdown occurred during a lull in fighting between the U.S. and Iran—even though attacks have escalated in recent days. Fed Chair Kevin Warsh went to Capitol Hill with a pledge to steer monetary policy toward bringing down inflation. "Now at the Fed, our number one objective is getting monetary policy right. That's our clear and constant aim. The star we steer by. And if we get policy right, and I can assure you we will, the inflation surge of the last five years will be a thing of the past," Warsh said.
White House Hosts Iraqi PM as Hormuz Blockade Debate Continues
President Trump hosted Iraqi Prime Minister Ali Al Zaidi at the White House today. During a joint news conference, Trump defended his decision to reinstate the U.S. blockade on the Strait of Hormuz as a war with Iran escalated. He also stated there would not be a 20% hole on ships going through that critical passageway, but expressed interest in striking investment deals with other countries in the region.
Israel Approves Major New Settlement Funding in West Bank
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What you'll learn
- 1 (00:04) **U.S. Inflation Cools to 3.5%** - The June year-over-year inflation rate slowed, recorded during a lull in U.S.-Iran fighting.
- 2 (00:50) **Trump Hosts Iraqi PM, Defends Strait of Hormuz Blockade** - President Trump defended reinstating the U.S. blockade on the Strait of Hormuz amid escalating war with Iran.
- 3 (01:12) **Israel Approves $2.8 Billion for West Bank Settlements** - The funding will build 12,000 new housing units, adding to a previous $1.6 billion announcement.
- 4 (02:32) **States Sue Trump Administration Over Frozen Social Services Funds** - A coalition of states sued to restore $10 billion in frozen funds for child care and cash aid to California, New York, Colorado, Illinois, and Minnesota.
- 5 (03:09) **E. Jean Carroll Receives $6 Million Payment** - The writer received the payment from her civil case against Trump, held in escrow for three years while the president appealed the jury's verdict.
- 6 (03:22) **New Crew Arrives at International Space Station** - An American and two Russians from Kazakhstan docked at the ISS, beginning an eight-month mission.
- 7 (03:36) **FIFA World Cup: France vs. Spain Semi-Final Underway** - The match is being played in Arlington, Texas, with the winner advancing to Sunday's final.
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