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Today’s edition of quick hits.
* Good news on inflation: “One of the most-watched inflation metrics showed a slight slowdown Wednesday, a sign that the price growth that has bedeviled the U.S. economy may be easing. Consumer prices rose 3.3% on a 12-month basis in May compared to 3.4% in April, according to data released by the Bureau of Labor Statistics. That was also below expectations for an unchanged 3.4% reading.”
* But Powell still isn’t cutting rates: “The Federal Reserve said Wednesday it was keeping its key interest rate unchanged as it fights elevated inflation rates that have been pinching U.S. businesses and consumers.”
* At the G7: “President Joe Biden and President Volodymyr Zelenskyy will sign a bilateral security agreement between the U.S. and Ukraine on Thursday when they meet on the sidelines of the Group of Seven summit in Italy, aiming to send a signal to Russia of American resolve in supporting Kyiv, the White House said as Biden was headed to Europe.”
* In related news: “President Biden has approved the deployment of another Patriot missile system to Ukraine, senior administration and military officials said, as the country struggles to fend off Russian attacks on its cities, infrastructure and electrical grid.”
* Progress in Baltimore: “Commercial shipping traffic through the Port of Baltimore is expected to return to normal levels next month, officials said Wednesday, after the channel fully reopened this week for the first time since the collapse of the Francis Scott Key Bridge in March.”
* I hope you saw our coverage last night on the Sinclair Broadcast Group: “Local television news broadcasters are airing suspiciously similar attacks on Joe Biden’s mental acuity and how it will affect the coming election — and it appears to be part of a coordinated effort.”
* Disappointment in Oklahoma: “A historic quest for justice by the last two known survivors of the Tulsa Race Massacre ended with a state court ruling on Wednesday. The Oklahoma Supreme Court affirmed a lower court’s dismissal of their lawsuit, the final legal stop for Lessie Benningfield Randle, 109, and Viola Ford Fletcher, 110.”
* The pope does it again: “Pope Francis has again been accused of using a highly offensive term to describe gay men in a closed-door meeting, two weeks after the Vatican apologized over his use of the same slur.”
* My best wishes to Howard’s family, friends, and many admirers: “Veteran political correspondent Howard Fineman, who spent three decades covering the corridors of power in Washington for Newsweek before becoming an analyst for MSNBC and other outlets, died after a two-year battle with pancreatic cancer, his wife announced Tuesday. Fineman, who was 75, died Monday at his home in Washington.”
See you tomorrow.