The Federal Reserve has raised its key interest rate by 0.25%, continuing its campaign against inflation. This rate hike is intended to help keep inflation at a rate of 2%, but could also make it more difficult for households and businesses to access credit, which could weigh on economic activity. The Fed's rate-setting committee noted that the U.S. banking system is sound and resilient, but cautioned that recent developments could have a negative effect on the economy.
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Lori Vallow Daybell, known as the "Doomsday Mom," will not face the death penalty if convicted of murder in the deaths of her two children, 7-year-old Joshua “JJ” Vallow and 16-year-old Tylee Ryan. Attorneys for Vallow filed a motion earlier this month citing media saturation, multiple discovery violations by the government, Vallow’s mental status and other factors. The judge's ruling today means that if Vallow is convicted of murder, she will not face the death penalty and the trial is expected to begin in August 2021.
A new report released by the Senate Homeland Security and Governmental Affairs Committee has revealed a concerning trend of worsening drug shortages in the United States, with new drug shortages increasing by nearly 30% from 2021 to 2022. The report identified three main causes of the shortages: economic drivers, reliance on foreign sources, and poor visibility of the pharmaceutical supply chain. The committee has called for more transparency in the pharmaceutical supply chain and for the government to take steps to address the underlying causes of the shortages.
Delaware Judge Eric Davis is set to decide whether to allow a defamation case against Fox News and Fox Corp. to proceed to a jury trial next month. Dominion Voting Systems allege that Fox News promoted false claims that the company rigged the 2020 election, and both sides argued their cases in a two-day hearing. Judge Davis is expected to make a ruling soon, which could have significant implications for the future of defamation law.
On Wednesday morning, a male student under 18 years of age shot two school administrators at East High School in Denver, Colorado. The student had been under a school safety plan and fled the scene after the shooting. The Denver Police Department is working with other law enforcement agencies to locate the student and is asking for the public’s help in the investigation. The school district has released a statement expressing their sadness and commitment to ensuring the safety of their students and staff.
Florida Governor Ron DeSantis (R) has recently made some rare criticism of former President Donald Trump, noting the importance of truth and character in a leader, and contrasting his potential rival with the character of the Founding Fathers. He also took swipes at Trump's leadership style and his legal woes surrounding a hush money payment to Stormy Daniels in 2016. As DeSantis continues to make his presidential ambitions known, it will be interesting to see how he further differentiates himself from the former president.
On Thursday, TikTok CEO Shou Zi Chew will testify before the House Committee on Energy and Commerce to address concerns about the app's national security implications, consumer privacy, data security practices, and its relationship with the Chinese Communist Party. Chew has sought to reassure the public that the company is taking steps to protect user data, but a recent incident involving a reporter's data has raised questions about the company's commitment. The hearing will be closely watched to see if Chew's testimony is enough to allay the concerns of U.S. policymakers.
Uganda's parliament has passed a controversial bill that criminalizes same-sex relations and identifies as LGBTQ, with severe penalties including death for so-called aggravated homosexuality and life in prison for gay sex. The bill has been met with strong opposition from the LGBTQ community and human rights groups, and is expected to be signed into law by President Yoweri Museveni in the coming weeks. Human rights groups have called on the president to veto the bill, citing its potential to further endanger the LGBTQ community.