The Show Notes: Yellen Says 'My Bad', Dimon's Hurricane Warning, & Uvalde Police Chaos
Welcome! I’m on vacation this week but still want to keep you updated on the news.
Big story: Texas school police chief hasn't responded for days to state investigators about Uvalde shooting - NBC
Must read: Jamie Dimon says ‘brace yourself’ for an economic hurricane caused by the Fed and Ukraine war - CNBC
Clip of the day:
Yellen: My Bad on Inflation
Janet Yellen admitted that she failed to anticipate the degree to which high inflation would impact Americans. Her quote to CNN's Wolf Blitzer is quite damning.
There have been unanticipated and large shocks to the economy that have boosted energy and food prices and supply bottlenecks that have affected our economy badly that I didn't -- at the time -- didn't fully understand, but we recognize that now.
Baby Formula Shortage
The baby formula shortage is getting worse ahead of Joe Biden’s meeting with formula manufacturers late Wednesday afternoon. The shortage is a byproduct of supply chaine woes and drastic recalls ealier this year. The White house announced an additional 8.3 million bottles will be imported ahead of the meeting. Go deeper with Fox News.
Biden Ukraine
The President of the United States penned an op-ed in the New York Times this morning with three key points on the United State’s role in Russia/Ukraine. 1) The United States will not extend the war in Ukraine to inflict pain on Russia 2) The United States will provide Ukraine a new advanced weapons system 3) The United States will not lobby for the removal of Vladimir Putin. For context, the same Joe Biden said earlier this year “For God’s sake, this man cannot remain in power.” Following the announcement of the weapons system, Russia responded by threatening a nuclear strike on the United States. Go deeper with The Daily Wire.
The rest of the news:
Biden, Democrats out of sync in pushing assault weapons ban - The Hill
The story about how the Uvalde gunman entered the school is shifting - NPR
Dems sweat GOP surge in South Texas special election - Politico
Mortgage rates rise sharply after three weeks of easing - CNBC
Biden’s ex daughter-in-law opens up about marriage to Hunter - AP News
US military hackers conducting offensive operations in support of Ukraine, says head of Cyber Command - Sky News
U.S. Supreme Court blocks Texas law restraining social media companies - Yahoo
Elon Musk trashes remote work - Axios
Sanctioned Russian oligarch’s megayacht hides in a UAE creek - AP News
Bison gores Yellowstone visitor, tosses her 10 feet, park officials say - NBC
NFL commissioner, Commanders owner asked to testify at House hearing on hostile workplace culture - Politico
Fed Starts Experiment of Letting $8.9 Trillion Portfolio Shrink - Yahoo
One-Third of Americans Making $250,000 Live Paycheck-to-Paycheck, Survey Finds - MSN
Russian NHL stars enter spotlight as war rages in Ukraine - Axios
Tweets that caught my eye: