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The Federal Reserve Building in Washington, D.C.
The Federal Reserve Building on June 17, 2020 in Washington, D.C.Olivier Douliery / AFP via Getty Images

Wednesday’s Mini-Report, 5.4.22

Today's edition of quick hits.


Today’s edition of quick hits:

* Jay Powell’s latest move: “The Federal Reserve lifted its core interest rate by 0.5 percent on Wednesday — its second hike in two months and the largest increase since 2000 — as the central bank works to fight inflation levels that have reached 40-year highs.”

* 1 million: “The United States on Wednesday surpassed 1 million Covid-19 deaths, according to data compiled by NBC News — a once unthinkable scale of loss even for the country with the world’s highest recorded toll from the virus.”

* William Todd Wilson pleads guilty: “A North Carolina member of the Oath Keepers on Wednesday pleaded guilty to seditious conspiracy and obstruction of an official proceeding in connection with the Jan. 6, 2021, attack on the U.S. Capitol.”

* A brutal report out of Ukraine that’s worth your time: “Amid all the horrors that have unfolded in the war on Ukraine, the Russian bombing of the Donetsk Academic Regional Drama Theater in Mariupol on March 16 stands out as the single deadliest known attack against civilians to date. An Associated Press investigation has found evidence that the attack was in fact far deadlier than estimated, killing closer to 600 people inside and outside the building. That’s almost double the death toll cited so far, and many survivors put the number even higher.”

* On the heels of the leak of the Alito draft: “Oklahoma Gov. Kevin Stitt signed a bill banning abortion after roughly six weeks, saying Tuesday that he wants his state to be the ‘most pro-life’ in the country.”

* The transcript of this is bound to be interesting: “Donald Trump Jr., the son of the former president, interviewed with the Jan. 6 committee on Tuesday, according to two people familiar with the matter.”

* A case we’ve been following: “A New York appellate judge has denied former President Donald Trump’s request to suspend a $10,000-a-day fine while he appeals a lower court ruling that found him in contempt for failing to produce documents for a state attorney general investigation of his company.”

* On a related note: “Washington, D.C., and former President Donald Trump reached a settlement Tuesday in a lawsuit the city brought accusing his business and inaugural committee of improperly spending nonprofit funds. The eight-page filing in D.C. Superior Court says Trump has agreed to pay the city government $750,000.”

* Pyongyang wants attention again: “North Korea launched a ballistic missile toward its eastern waters on Wednesday, South Korean and Japanese officials said, days after North Korean leader Kim Jong Un vowed to bolster his nuclear arsenal ‘at the fastest possible pace’ and threatened to use it against rivals.”

* Good: “On Monday, a judge allowed a lawsuit seeking reparations for three survivors of the 1921 Tulsa Race Massacre to proceed, denying a motion to dismiss the case.”

See you tomorrow.