White House Faces Backlash!

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💼 Pause on June Rate Hike, but Fed Expects Future Increases

Federal Reserve officials agreed to pause a 0.25% rate hike in June, with nearly all expecting more increases this year. Echoing Fed Chair Jerome Powell's concern over inflation, NY Fed President John Williams emphasized the necessity of slowing the pace of rate hikes. However, officials did acknowledge uncertainties about credit conditions & the eventual effects of tighter bank credit. "Almost all participants noted that in their economic projections, they judged that additional increases in the target federal funds rate during 2023 would be appropriate.''

💰 White House Faces Backlash for Restarting Interest on Student Loans

White House faces backlash over its decision to reinstate interest on student loans, under its 'on-ramp' repayment program. The scheme aims to aid struggling borrowers by removing the threat of credit score damage and default for 12 months. However, critics, including some Democrats, argue that it's insufficient and interest shouldn't accrue during this period. A White House official defended the program, claiming it was the "most generous income-driven repayment plan ever."

🛡️ US Forces Thwart Iranian Seizure of Two Tankers

US forces thwarted Iran's attempts to seize two commercial tankers near Oman, according to the Pentagon. The US Central Command revealed that Iran had attempted to capture Marshall Islands-flagged TRF Moss and Bahamian-flagged Richmond Voyager but retreated after the arrival of the US destroyer USS McFaul. Iran has reportedly "harassed, attacked or seized" nearly 20 internationally flagged ships since 2021, posing a threat to global maritime security and the economy.

🌏 UN Allows Japan to Release Radioactive Fukushima Water

UN has approved Japan's plan to discharge treated, radioactive water from the Fukushima nuclear plant into the ocean, despite objections from local fisheries and neighboring countries. The plan, which is expected to have negligible effects on the environment and health, was necessitated by storage tanks reaching capacity. The International Atomic Energy Agency emphasized that the report is not an endorsement, but Japan's decision. Local fishermen express concern over the impact on their livelihoods.

🤖 Meta Rolls Out Threads, Previews Upcoming Features

Meta's new app, Threads, replicate Twitter's basic functionalities with posts up to 500 characters long and features including links, photos, and videos. Instagram Chief, Adam Mosseri, says voice notes, photo and video tagging, and post reactions will be coming soon. Threads users will also have a threads.net username, discoverable across ActivityPub platforms like Mastodon. Despite being in its early stages, Threads could pose a significant challenge to Twitter given Instagram's larger user base.

🔬 OpenAI Forms Team to Reign in 'Superintelligent' AI

OpenAI, led by its Chief Scientist Ilya Sutskever, is creating a Superalignment team to manage and control "superintelligent" AI systems, which they predict could emerge within a decade. Recognizing the potential risk of AI surpassing human intelligence, the team will focus on developing a "human-level automated alignment researcher" over the next four years. The aim is to ensure AI systems achieve desired outcomes and prevent them from "going rogue" by utilizing human feedback and AI assistance.

🎾 Djokovic Joins Elite Wimbledon Club with Serena, Federer

Novak Djokovic, after his second-round Wimbledon victory against Australia's Jordan Thompson, joins Serena Williams and Roger Federer as the only players with 350 Grand Slam singles wins. Djokovic is on a 41-match winning streak on Wimbledon's Centre Court since 2014. Seeking his eighth Wimbledon championship, he aims to tie Federer's record for the most wins in men's competition.

🎬 Robert Downey Jr. Spotted on Set of Captain America: Brave New World

Actor Robert Downey Jr. was reportedly seen on the set of "Captain America: Brave New World," sparking speculation about a potential reappearance as Tony Stark/Iron Man. Despite Stark's death in "Avengers: Endgame," the expansion of the MCU into the multiverse realm may make this possible. Downey's presence, however, could also simply be a visit, aligning with his known love for cars and the reported "supercars" on set.

🎥 Russian Jets Seen 'Harassing' US Drones over Syria: Disturbing Footage Released

A video released by the U.S. military shows Russian fighter jets "harassing" American military drones over Syria, in what was labeled as "unsafe and unprofessional behavior" by a top U.S. Air Force general. The Russian Su-35 jets interfered with the drones' mission against the Islamic State group, endangering the safety of U.S. and Russian forces. The incident adds to numerous provocative Russian flights over eastern Syria, leading the U.S. to deploy F-22 Raptors to deter such actions.

⚠️ White House Cocaine Find Prompts Secret Service Investigation

Cocaine was found in a West Wing entry area of the White House, leading to Secret Service investigations involving visitor logs and surveillance footage. The substance was discovered in a cubby hole where visitors leave belongings during tours. Spokesperson Karine Jean-Pierre said actions would be taken as deemed appropriate pending the outcome of the investigation. The discovery briefly closed the White House complex on Sunday.

💧 US Tap Water Contains Potentially Harmful Chemicals: Study

A U.S. Geological Survey reveals nearly half of U.S. tap water likely contains synthetic compounds known as PFAS, which could pose cancer risks & other health problems. A first nationwide effort to test tap water extends to private sources, adding to evidence that PFAS are pervasive in water supplies. The report makes no policy recommendations, lead author Kelly Smalling suggests it can be used to evaluate exposure risks. Environmental Protection Agency is currently reviewing limits on 6 forms of PFAS in drinking water, with a decision expected by 2024.

On July 6, way back in 1946, a Future businessman, politician, and the 43rd U.S. President, George W. Bush was born! Who knew then this birthday boy would someday lead the nation? Happy 'then-day' Mr. President

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