Inflation Report: Inflation was essentially flat in May, according to the U.S. Bureau of Labor Statistics. Figures released this morning show that the Consumer Price Index was flat in May after rising 0.3% in April. Over the past 12 months, the index has risen 3.3%. The Federal Reserve has set its inflation target at 2%. Housing costs rose in May, marking the fourth consecutive month of increases of 0.4%. Food prices rose 0.1% in May, while energy was down 2% month-over-month, driven by a 3.6% decrease in gasoline.
RUSSIAN WARSHIPS: A fleet of Russian warships spotted about 100 miles off the east coast of Florida was expected to arrive in Cuba today. One ship had arrived in Havana harbor as of this morning. The Cuban Foreign Ministry announced that the fleet would fire a 21-gun salute. The visit of the Russian warships to Cuba is seen as an attempt to strengthen Russian-Cuban ties while also sending a message to the U.S. that Russia has strong influence just 90 miles from the country.
Bridge collapse: The Port of Baltimore has reopened to ship traffic after a container ship struck it and caused the Francis Scott Key Bridge to collapse. Major shipping channels have been reopened, and Coast Guard Rear Adm. Shannon Gilreath said at a press conference that the largest container ships can once again use the port. Cleanup costs so far are estimated to exceed $100 million. Plans are being made to build a new bridge across the Patapsco River.
Hunter Biden Sentencing: President Biden flew to Wilmington, Delaware yesterday to meet with his son Biden following the jury verdict that found Hunter Biden guilty of three charges related to his gun purchases. Biden was convicted of lying on government forms that he was not using drugs or addicted at the time of the gun purchases. The judge did not immediately set a sentencing date. Hunter Biden is scheduled to go on trial in California on September 5th for failing to pay $1.4 million in taxes to the Internal Revenue Service.
Project 2025: Seven House Democrats have announced they have formed a task force to block the Heritage Foundation's Project 2025 plan to end American democracy under a second Trump administration. The plan, which is hundreds of pages long, would dismantle the current federal government and establish a dictatorship that would use the government to oppress and retaliate against Trump's opponents. Democrats say they must first make the existence of Project 2025 widely known.
Missile Launch: Hezbollah fired missiles across the border from Lebanon into Israel today in retaliation for an Israeli attack that killed three Hezbollah operatives, including a Hezbollah commander. Hezbollah reportedly fired more than 100 missiles. Israel did not immediately release reports of damage or casualties. In retaliation for the missile launches, Israeli jets struck military targets in southern Lebanon today.
