The 7 things you need to know for Wednesday, May 11 – Jahanagahi
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Economy

The 7 things you need to know for Wednesday, May 11

one

Russia is prepared for a “prolonged” war, a US official warned.

  • Who said this? Avril Haines, the nation’s top intelligence official. She predicted that what happens in the next month or two in Ukraine will be significant.
  • What else to know: The US House approved $40 billion in more aid for Ukraine yesterday. The Senate is expected to pass it this week.

two

Prices kept rising at historically high levels last month.

  • What’s going on? The government released figures today that showed costs — for things like energy, housing and food — rose by 8.3% in April compared to last year.
  • Any good news? That’s a smaller rise than in March, which could be a sign that inflation is slowing.
  • What’s driving this? Russia’s invasion of Ukraine caused gas prices to soar, while supply chain problems and increased demand made other items more expensive.

3

A candidate backed by Donald Trump lost a primary in Nebraska.

  • What happened? Jim Pillen defeated Charles Herbster, who was accused of sexually assaulting multiple women, as Republican voters picked their candidate for governor.
  • What this shows: There are limits to the former president’s influence. However, the House candidate Trump endorsed in West Virginia won his GOP primary.
  • What’s next? There are some big votes next Tuesday. Primaries in Pennsylvania and North Carolina are the ones to watch.

4

Record-breaking heat is scorching the central US this week.

  • What to expect: 90-degree heat will reach all the way to Wisconsin tomorrow, and temperatures in Texas and Oklahoma have hit triple digits.
  • This isn’t normal: Climate change caused by humans is playing a role in making early-season heat waves more frequent and more intense.

5

There’s a huge baby formula shortage in the US

  • How big is it? Formula was 43% out of stock nationwide last week, according to one tracker.
  • Why is this happening? Supply issues started getting worse after formulas linked to bacterial infections were recalled in February.
  • What’s being done? The FDA is talking with manufacturers, who are already trying to ramp up production.

6

Files from the largest US opioid maker went public yesterday.

Apple is finally pulling the plug on the iPod.

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