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Click here to read what happened on May 2, 2022.
U.S. News
Federal Reserve issues rate hike of half a percentage point — the largest in 22 years
The Federal Reserve has announced on Wednesday that it will raise the interest rates by a half-percentage point in order to combat inflation plaguing the United States in numbers not seen in nearly 40 years.
The hike is the highest in 22 years and was a unanimous decision by the 12 members of the Federal Open Market Committee.
New Mexico governor asks for aid as seven wildfires burn through the state
The Governor of New Mexico has asked for a presidential disaster declaration in order to receive aid and money as seven wildfires burn through the state.
Over 223,979 acres have been burned, with the combined Hermits Peak and Calf Canyon fires burning more than 160,000 acres themselves.
A disaster declaration would allow for “watershed recovery, restoration of all of those wildlands and personal direct financial reparation and assistance before the fire is out,” stated Governor Lujan Grisham.
SCOTUS Justice Alito cancels conference appearance after abortion ruling leak
U.S. Supreme Court justice Samuel Alito has canceled an appearance at a judicial conference after a draft he wrote overturning Roe v. Wade was leaked.
The conference was set to begin on Thursday and would be a gathering of judges from the New Orleans-based federal appeals court and the district courts of Louisiana, Mississippi, and Texas.
Federal judge accepts Derek Chauvin’s plea deal; Chauvin will receive 20-25 years in prison
Derek Chauvin will receive 20 to 25 years in prison after a federal judge accepted a plea deal made with prosecutors in December.
Chauvin pleaded guilty to violating George Floyd’s civil rights after kneeling on Floyd’s neck, killing him. In exchange for the guilty plea, Chauvin will receive 20-25 years in prison.
Satanic Temple is requesting Boston to fly its flag after SCOTUS ruled in favor of Christian flag
The Satanic Temple is requesting that Boston fly its flag at Boston City Hall from July 23-29 as a part of “Satanic Appreciation Week” after the Supreme Court ruled that the city violated the free speech rights of a conservative activist who wanted to fly a Christian flag.
Mayor Michelle Wu’s office has not commented yet on the request, but has stated that it’s reviewing the court’s decision and its flag-raising program.
World News
Contact lost with Ukrainian troops in Azovstal steel plant as Russian forces attack
The mayor of Mariupol has said on Wednesday that “there [was] heavy fighting in Azovstal”, adding that city officials have “lost contact” with the Ukrainian forces fighting inside the steel plant and that officials had no way of knowing “what’s going on, whether they are safe or not.”
Ukrainian forces say that Russia began an offensive against Azovstal shortly after the UN and Red Cross confirmed that more than 100 civilians were evacuated.
The city of Mariupol has been nearly destroyed amidst the fighting.
EU will increase military support to Moldova
EU Council President Charles Michel has pledged support for Moldova by raising military aid to the country.
Moldova has seen rising tensions following a series of explosions in a pro-Russian region of the country near the border with Ukraine.
Michel said, “this year we plan to significantly increase our support to Moldova by providing its armed forces with additional military equipment…The EU stands in full solidarity with you [President Maia Sandu], with Moldova. It is our European duty to help and to support your country.”
French Socialist Party agrees to form coalition with far left for French parliamentary election
The French Socialist Party and the far left LA France Insoumise (LFI) party have reached an agreement to form a coalition alliance in anticipation of the June parliamentary elections.
The coalition pact is an attempt to block Emmanuel Macron from having a majority in parliament.
If the agreement is confirmed, it will be the first time the French left will be united in 20 years.
Business News
Elon Musk suggests charging governments and corporations “slight cost” to use Twitter
Elon Musk has recently Tweeted an idea to charge governments and corporations a “slight cost” to use Twitter.
Musk recently made a deal to purchase Twitter, but the sale has not yet been finalized. Musk has current plans to take Twitter private, but Wall Street Journal recently published an article stating that Musk may take it public again after a few years.
Musk’s exact Tweet stated “Ultimately, the downfall of the Freemasons was giving away their stonecutting services for nothing…Twitter will always be free for casual users, but maybe a slight cost for commercial/government users.”
Intuit agrees to pay $141 million settlement over ‘free’ TurboTax ads
Intuit, the company that owns the widely popular TurboTax filing platform must pay $141 million to customers across the U.S. who were deceived by potentially misleading advertisements regarding free tax-filing services.
TurboTax’s “free, free, free” ad campaign will be suspended and nearly 4.4 million taxpayers will receive some sort of restitution, according to New York Attorney General Letitia James.
James said she began her investigation into Inuit’s practices after a 2019 ProPublica report stated that the company was deceptively luring low-income filers away from federally supported free services and towards its own commercial products.
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