AURN News

(AURN News) - The Federal Reserve remains locked in an intense battle against stubbornly high inflation, with policymakers signaling the road ahead will be longer and bumpier than previously anticipated, according to minutes from their latest Federal Open Market Committee (FOMC) meeting released Wednesday. 

"Domestic data releases over the intermeeting period pointed to inflation being more persistent than previously expected and to a generally resilient economy," the minutes indicated. While overall inflation has eased over the past year, the minutes also reveal concerns that progress has stalled recently. Consumer prices, as measured by the personal consumption expenditures (PCE) index, "slowed significantly over the past year but had moved up slightly in recent months,” according to the minutes. 

The FOMC also indicated in their meeting that inflation remained stubborn when it comes to both goods and services. "Participants observed that while inflation had eased over the past year, in recent months there had been a lack of further progress toward the Committee's 2 percent objective. The recent monthly data had showed significant increases in components of both goods and services price inflation," the minutes said. 

Policymakers also voiced worries about inflation's continued financial impacts, noting, "Participants generally commented that they remained highly attentive to inflation risks. They also remained concerned that elevated inflation continued to harm the purchasing power of households, especially those least able to meet the higher cost," the notes said. 

"Participants noted that they continued to expect that inflation would return to two percent over the medium term. However, recent data had not increased their confidence in progress toward two percent and, accordingly, had suggested that the disinflation process would likely take longer than previously thought." 

While the Fed has indicated some progress, we are now learning that inflation is a tougher foe than expected. 

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With the 2024 general election approaching, a wave of new voting laws is shaping the electoral landscape, continuing the trend from recent years. From January to May, six states, including Alabama and Idaho, passed restrictive laws that could significantly impact this year's elections. 

According to the Brennan Center for Justice, these new laws criminalize certain forms of assistance with absentee voting, making it harder for many, particularly Black voters, elderly voters, and those with disabilities, to cast their ballots. In Alabama, for example, it's now a crime for anyone other than the voter to submit a mail ballot application, and providing assistance can result in severe penalties.

Emerging technology issues, such as the use of deep fakes and AI, have also prompted new laws to combat disinformation. As states pile on new restrictions, it's crucial, however, for voters to stay informed and prepared.

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On May 22, 1967, in New York City, Langston Hughes, renowned poet, playwright, and columnist, passed away due to complications from prostate cancer at the age of 65.

A leading figure of the Harlem Renaissance movement in the 1920s and 1930s, Hughes was born on February 1, 1902, in Joplin, Missouri. His literary creations were profoundly shaped by the vibrant jazz and blues culture of Harlem.

Hughes delved into the collective African American experience in his writings, drawing from both his own encounters and his travels to Mexico, Europe, and Africa.

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President Joe Biden is hosting Kenyan President William Ruto at the White House for a historic three-day state visit, marking the first such honor for an African nation since 2008. The visit comes as Kenya prepares to send 1,000 police officers to Haiti as part of a UN-led mission to combat gang violence.

The White House emphasized the deep and broad partnership between the U.S. and Kenya, noting their collaboration on counterterrorism and regional security efforts. Today's events include a meeting with American CEOs. A formal state dinner will take place tomorrow, along with a joint news conference.

The visit underscores the Biden administration's commitment to enhancing diplomatic and economic ties with Africa, building on the U.S.-Africa Summit held in December 2022.

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(AURN News) - The Biden administration took action Tuesday aimed at providing relief from the high gasoline prices drivers are expected to face during the summer driving season. The Department of Energy announced it will sell 1 million barrels of gasoline—equivalent to 42 million gallons—from the Northeast Gasoline Supply Reserve. The move is intended to increase supplies and hopefully lower prices at the pump between Memorial Day and the July 4th holiday, when demand peaks.

"By strategically releasing this reserve in between Memorial Day and July 4th, we are ensuring sufficient supply flows to the tri-state and Northeast at a time hardworking Americans need it the most," said Energy Secretary Jennifer Granholm in a statement.

The department says gasoline from the supply reserve will be delivered or transferred to markets no later than June 30. The announcement comes as motorists nationwide are grappling with gasoline prices that remain elevated despite modest recent declines.

According to AAA, the current national average for a gallon of regular gasoline is $3.59, down from $3.67 a month ago but still painfully high for many families as the summer driving season begins.

There are considerable regional differences in prices, with drivers in Texas currently paying an average of $3.14 per gallon, while those in California are being hit with a statewide average of $5.18.

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The U.S. Department of Housing and Urban Development (HUD) has allocated $5 million in funding for historically Black colleges and universities (HBCUs) to conduct housing and community research development. 

The aim is to support Research Centers of Excellence at HBCUs, which will focus on strategic areas of interest to HUD. These centers will produce evidence-based solutions to address challenges in underserved communities, including housing, community development, economic development, and the environment. 

The funding will enable HBCUs to expand their capacity for innovative research and to contribute to policy-making and positive change in these critical areas.

The initiative reflects HUD's commitment to affordable housing and its emphasis on collaborating with institutions that prioritize Black and brown communities.

More information on how to apply for funding can be found on HUD.gov.

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Christopher Wallace, who would go on to be known as the rapper Notorious B.I.G., was born on May 21, 1972, in Brooklyn, New York. 

Wallace started rapping as a teenager and made his debut in 1994 with the iconic album "Ready to Die," which included the hits "Juicy," "Big Poppa," and "One More Chance."

Tragically, his life was cut short on March 9, 1997, when he was killed at the age of 24 in a drive-by shooting in Los Angeles. 

On March 25, 1997, his final album, "Life After Death," was released posthumously and hit No. 1 on the Billboard album charts.

Happy birthday to the late, great Christopher Wallace.

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According to the Brennan Center for Justice, nearly half of U.S. states have enacted new voting laws ahead of the 2024 general election, many of which impose significant restrictions. Alabama, Arizona, Idaho, Indiana, and Tennessee have passed laws making voting harder, especially for Black and minority communities.

Alabama has criminalized assisting with mail ballot applications, impacting elderly and disabled voters, while Indiana's law risks wrongly purging naturalized citizens from voter rolls.

Another major concern is the rise of deepfakes and AI-generated disinformation, leading to new legislation aimed at protecting the integrity of elections. With voting access under threat and misinformation on the rise, Black voters must stay informed and vigilant as the election approaches.

Eleven states have passed laws expanding voting access, such as easier absentee voting.

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(AURN News) - The White House is pushing for the Senate to pass a sweeping bipartisan bill aimed at what it claims will strengthen border security and overhaul the nation's immigration system. House Republicans have already signaled the effort will go nowhere.

The Senate is expected to vote this week and in a statement, White House Press Secretary Karine Jean-Pierre said the bill "would deliver the significant policy changes, resources, and personnel needed to secure our border and make our country safer."

According to the White House, key provisions include hiring thousands of additional Border Patrol agents and immigration judges, investing in new technology to detect fentanyl, establishing quicker asylum case processing, granting emergency powers to temporarily shut down the border in crisis scenarios, and expanding legal immigration pathways.

"We strongly support this legislation and call on every Senator to put partisan politics aside and vote to secure the border," Jean-Pierre stated. 

However, the bill faces long odds of ultimately becoming law. House Republicans wasted no time dismissing the Senate's work. 

"Chuck Schumer is only bringing a vote on a failed immigration bill so his vulnerable Democrats can try & save face after standing by while Biden blew our border wide open," Rep. Richard Hudson (R-NC) posted Monday on X, formerly Twitter.

While the crisis at the border continues, it’s clear that the partisan divide on Capitol Hill appears too wide to bridge.

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"And most of all, what does it mean, as we’ve heard before, to be a Black man who loves his country even if it doesn’t love him back in equal measure?"

That was President Joe Biden addressing Morehouse College grads at the commencement on Sunday. He went on to talk about his administration's commitment to Black Americans.

The president highlighted substantial investments in historically Black colleges and universities (HBCUs), totaling over $16 billion, efforts to increase Black educator diversity, and initiatives supporting Black-owned businesses. 

Transitioning to the crisis in Gaza, Biden called for an immediate ceasefire and long-term political solution, acknowledging the deep frustration and pain felt by many. Despite peaceful protests during the speech, including students turning their backs and displaying a Palestinian flag, Biden emphasized that dissent is essential but must not lead to disorder.

At the ceremony, Biden was also awarded an honorary degree.

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