Tonight, the cost of borrowing money is going up at the fastest pace in recent history. The Federal Reserve raise interest rate by half a percentage point. It’s the largest increase of rates since 2000. That was back when the US was in the middle of the dot-com boom. It’s just a second-rate increase since 2018. The goal? Cool inflation but not the job market. Wall Street like the news apparently, stocks roared to their biggest advances in two years with all three indexes posting triple digit gains. President B tried to get ahead of this announcement and persistently negative public assessment to his economic records by touting low unemployment and falling federal deficit. Today’s decision means it’ll soon cost you more to borrow money on everything, from credit cards to homes and cars. An aggressive move by the Fed as consumers battle the highest inflation in forty years and this maybe the beginning. The Fed is trying to tame skyrocketing inflation by discouraging spending, following historically low rates. And the Fed is expected to raise several more times this year which means the price for new loans will also keep going up.

Now to the fallout following unprecedented leak of a draft Supreme Court opinion overturning the 1973 landmark Roe V. Wade decision that legalized the abortion nationwide. Demonstration for and against were held across the country as some Democratic governors hurried to shore up abortion rights. At the Supreme Court and across the country, today, Americans took the streets to protest the potential end of Roe V. Wade. Asked about the leaked draft opinion, President B took a swipe at former President T and his GOP coalition who helped install the Court’s conservative majority. Democrats now see the possible end of abortion right as another way to call out differences with Republicans ahead of the midterm elections. On Capital Hill, there’s a push among Democrats like Massachusetts Senator E.W to write federal abortion rights into law. To bypass those possible state of abortion ban, some companies are now offering to pay travel expenses for worker seeking abortion services. One of those companies is Yelp, an official there telling us they think it’s quote “vitally important for companies to safeguard their employees”.

:::tip coalition

• : a temporary alliance of distinct parties, persons, or states for joint action. 同盟

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