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Senate Democrats Announce $3.5 Trillion Budget Agreement – Democrats on the Senate Budget Committee said on July 13 that they have reached an agreement on a $3.5 trillion package that includes many provisions backed by President Joe Biden, including on climate change, expanding Medicare, and plans to address “human” infrastructure. – READ MORE
After Another Record Inflation Report, The Fed Will Not Taper Monetary Policy – One day after officials revealed that United States inflation saw its greatest monthly hike since 2008, Federal Reserve Chair Jerome Powell announced that the central bank will not taper its aggressive quantitative easing.
In prepared remarks to Congress released on Wednesday, Powell said that inflation “has increased notably and will likely remain elevated in coming months before moderating.” However, Powell asserted that such inflation is temporary and primarily driven by post-COVID production bottlenecks. – READ MORE
With Taxpayers’ Help, Delta Posts $652 Million Profit in Second Quarter – Delta Air Lines reported its first quarterly profit since the pandemic devastated the airline industry more than a year ago, as hordes of vacation travelers and money from U.S. taxpayers offset weak corporate and international travel. – READ MORE
Producer Price Inflation Surges 7.3%, Higher Than Expected – Prices received by U.S. businesses for goods and services rose by much more than expected in June, the Labor Department reported Tuesday.
The Producer Price Index rose 7.3 percent in June from 12 months earlier, the largest demand since 12-month data were first introduced in 2010. Compared with May, the index rose one percent. On average, this index rose by around 0.2 percent per month in the pre-pandemic Trump administration. – READ MORE
Poll: 1.8 million Americans have turned down jobs due to unemployment benefits –About 1.8 million out-of-work Americans have turned down jobs because of the generosity of unemployment insurance benefits, according to Morning Consult poll results released Wednesday.
Why it matters: U.S. businesses have been wrestling with labor supply shortages as folks capable of working have opted not to work for a variety of reasons. – READ MORE
‘New Normal’: Vaccine Passports Could be ‘Redeployed’ as National ID Cards in the UK – The United Kingdom could follow the lead of the European Union and Communist China in implementing a digital ID out of a “redeployed” vaccine passport, a firm developing a health pass for the government has said.
Civil rights campaigners have warned that “mission creep” could result in the UK using a vaccine passport as a pseudo national ID card after an American IT company contracted by the British government to develop a “Covid Certification” pass suggested that the health passes could become part of the “new normal”. – READ MORE
Purdue University President Daniels: Unvaccinated Students ‘Will Need to Make Their Own Arrangements’ to Stay Out of Class – In a Wednesday interview with CNN’s “New Day,” Purdue University President Mitch Daniels, formerly the governor of Indiana, shared that unvaccinated students at the school “will need to make their own arrangements” to stay out of class.
Although Purdue will not require students to get the vaccine, Daniels emphasized that “no special arrangements will be made” for the students who choose not to get it. He added those students would be required to “stay away from infecting others.” – READ MORE
Gretchen Whitmer Coronavirus Vaccination Raffle Gimmick Falls 95% Short of Goal –The Michigan vaccination raffle gimmick that Gov. Gretchen Whitmer (D-MI) touted failed to motivate many residents to get the shot for a chance to win millions in prizes.
“Less than 37,000 people in Michigan have gotten their first dose of a COVID-19 [Chinese coronavirus] vaccine since the start of the program,” titled MI Shot to Win, which was announced July 1, NBC 25 reported. – READ MORE
Tens Of Thousands More People Died From Drug Overdose In 2020 Than Ever Before – The number of overdose deaths across the United States skyrocketed by nearly 30% last year, equating to tens of thousands more lives lost, according to preliminary federal data.
The Centers for Disease Control and Prevention released preliminary counts for drug overdose deaths on Wednesday. The numbers showed that the number of people who died last year from overdoses shot up to 93,331 from 72,151 deaths in 2019, according to The Wall Street Journal. – READ MORE
North Carolina county launches ‘doses to doors’ vaccine campaign – Health department workers and community outreach groups have kicked off a “doses to doors” COVID-19 vaccination campaign in Mecklenburg County, North Carolina, where just 49% of residents have received at least one jab. The program, which officials say offer a convenient way for residents to get the shot without having to worry about travel, was met with mixed reaction on Twitter.
“They don’t move that fast to help people when they know a hurricane is coming,” one Twitter user wrote. – READ MORE
FBI Used at Least a Dozen Informants in Michigan Kidnapping Case: Filing – At least 12 confidential informants have helped the FBI build a case against men accused of planning to kidnap Michigan Gov. Gretchen Whitmer, according to a new court filing. – READ MORE