President Joe Biden met on Tuesday with the chairman of the Federal Reserve to plot a strategy to fight rising gas and food prices, reversing assertions from last year that the organization should remain independent. The national average price of gasoline finished May at above $4.60 a gallon, rising 11% over the past month. U.S. Treasury Secretary Janet Yellen said on Tuesday that she failed to anticipate how long high inflation would continue, underscoring the political liability facing the Biden administration as prices soar.

Shanghai is returning to some normalcy after a strict two-month COVID-19 lockdown that snarled global manufacturing and trade operations. Residents of China’s largest city report feeling “immense relief” at some easing of restrictions, although 650,000 people in closed-off zones are still restricted to their homes. Shanghai's lockdown froze businesses across China, dampening global factory growth and posing lingering uncertainties for the country’s economic outlook.

The Supreme Court has blocked a Texas law that sought to prevent social media platforms from censoring users based on their viewpoints. Champions of the law argued that the platforms are ​​generally liberal in outlook and often hostile to ideas that stem from the political right. The decision highlights the public’s increasing scrutiny of digital monitoring, especially after reporting revealed that Uvalde school district, the site of the deadly school shootings last week, had experimented with a social media monitoring service that alerted schools of potential threats.

More food and beverage companies are vowing to curb their advertising to children, responding to parents’ concerns about privacy and ad content as digital devices grow more common. The 20 companies that comprise the Children’s Food and Beverage Advertising Initiative agreed in May to only advertise products that meet certain nutritional criteria to children under 13, and others said they will stop using influencers who primarily appeal to that age group. The World Health Organization released a report on Tuesday that warns of how healthy food behaviors are being undercut by advertising campaigns, noting that nearly 40 million children under five are estimated to be overweight.

Britain on Wednesday will celebrate 70 years on the throne for Queen Elizabeth II’s Platinum Jubilee, a royal celebration to be filled with corgis and a performance from the Sex Pistols. The 96-year-old queen is Britain’s longest-serving monarch and is broadly popular, although few young Britains say they believe the monarchy should be kept for the foreseeable future.

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