U.S. inflation rose to 4.2% in May, the highest level in three years, as energy costs tied to the Iran war continued to climb. Core inflation increased 2.9%, while wage growth lagged behind the broader rise in prices.
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A fragile U.S.-Iran ceasefire collapsed after an American Apache helicopter was downed near the Strait of Hormuz, prompting U.S. strikes on Iranian targets. Iran responded with attacks targeting U.S.-linked military sites in Bahrain, Kuwait and Jordan, with air defenses reporting interceptions.
Trump said Bill Pulte will become acting director of national intelligence on June 19 while remaining head of the Federal Housing Finance Agency. The decision has sparked bipartisan concern and threatened renewal of Section 702, a surveillance authority set to expire Friday.
Iran’s Revolutionary Guards said they struck US military targets in Bahrain, Kuwait and Jordan after American attacks on Iranian sites near the Strait of Hormuz. Jordan said it intercepted five missiles, while US officials told Reuters nearly all Iranian missiles and drones were stopped.
The House voted 214-212 to approve roughly $70 billion for ICE and Border Patrol through the rest of President Trump’s term. The bill ends a months-long funding fight but leaves out enforcement reforms Democrats had demanded.
The FDA has approved bemotrizinol, the first new sunscreen ingredient for the U.S. market in more than two decades. The broad-spectrum UV filter has been used for years in Europe and other countries and is expected in U.S. products by year’s end.
Trump accused Iran of shooting down a U.S. Army Apache helicopter near the Strait of Hormuz and said the United States “must” respond. Two crew members were rescued unharmed by an American sea drone, while U.S. Central Command said the crash remains under investigation.
Social Security trustees project the retirement trust fund will be depleted by the end of 2032, triggering 22% automatic benefit cuts unless Congress acts. The program would still pay benefits, but only 78% of scheduled amounts.