Your Friday Briefing: U.S. Inflation Keeps Soaring - The New York Times

2022-10-25 00:53:31 By : Mr. Warren Huang

Plus Europe’s search for energy and U.S. attempts to hinder China’s technological development.

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Your Friday Briefing: U.S. Inflation Keeps Soaring - The New York Times

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Consumer prices climbed far more quickly than expected in the U.S., grim news for the Federal Reserve as it tries to bring the most rapid price increases in four decades under control.

Overall inflation climbed 8.2 percent in the year through September, more than some economists expected, and prices increased 6.6 percent after stripping out fuel and food, the so-called core index. That is a new high for the core index this year, and the fastest pace of annual increase since 1982.

Fed officials are closely watching the monthly numbers, which give a clearer snapshot of how prices are evolving in real time. They offered more reasons to worry: Overall inflation climbed 0.4 percent in September, much more than last month’s 0.1 percent reading, and the core index climbed 0.6 percent, matching a big increase in the prior month.

Takeaways: The disappointing inflation data is most likely bad news for Democrats ahead of the midterm elections.

What’s next: A sixth round of rate hikes from the Federal Reserve this year looks likely. Central bankers have signaled that they will consider an increase of up to three-quarters of a point at their next meeting in November.

Russia’s invasion of Ukraine has left many Ukrainian cities in ruins. The war could also mean the end for a German farming village.

Lützerath sits next to a coal mine and atop a large coal deposit, which the German government hopes to mine to make up for a looming shortage of cheap Russian gas, which Germany normally relies on for heat in the winter.

Germany has pledged to wean itself off coal by 2030. Germans have traditionally been supportive of clean energy, and energy experts suggest that Lützerath’s coal is not necessary. But there has been little public backlash to destroying the village, and many Germans seem to have accepted that coal will be an important part of their near-term energy future.

In Moscow, Russia’s president Vladimir Putin offered to export more gas to Europe via Turkey, potentially turning the country into a regional supply hub and solidifying Russia’s hold over Europe’s energy markets.

In Paris, Parkour enthusiasts are saving energy by using superhero-like moves to turn off lights burning all night outside stores.

In Ukraine, more than three dozen people have died in the past four days during Russia’s missile barrage. NATO’s secretary general vowed to “stand by Ukraine for as long as it takes,” and the E.U. announced that it planned to train Ukrainian soldiers on the union’s soil.

The Biden administration wants to limit the Chinese military’s rapid technological development by choking off China’s access to advanced chips.

China has been using supercomputing and artificial intelligence to develop stealth and hypersonic weapons systems, and to try to crack the U.S. government’s most encrypted messaging, according to intelligence reports. Last week, the administration unveiled what appear to be the most stringent U.S. government controls on technology exports to China in a decade, technology experts said.

In dozens of interviews with officials and industry executives, my colleagues Ana Swanson and Edward Wong detailed how this policy came together. The administration spent months trying to convince allies like the Dutch, Japanese, South Korean, Israeli and British governments to announce restrictions alongside the U.S. But some of those governments feared retaliation from China, one of the world’s largest technology markets. Eventually, the Biden administration decided to act alone.

Details: U.S. officials described the decision to push ahead with export controls as a show of leadership. They said some allies wanted to impose similar measures but were wary of antagonizing China; the rules from Washington that target foreign companies did the hard work for them.

What’s next: The controls could be the beginning of a broad assault by the U.S. government. “This marks a serious evolution in the administration’s thinking,” said Matthew Pottinger, a deputy national security adviser in the Trump administration.

An Indian Supreme Court panel was divided over a state’s ban on hijabs in schools, leaving it in place for now, Reuters reports.

Keith Bradsher, The Times’s Beijing bureau chief, discusses what China’s struggle with Covid means before its important Communist Party congress.

North Korea said it practiced firing two long-range cruise missiles on Wednesday that could be used as nuclear weapons, Reuters reports.

The Living Planet Index concluded that monitored populations of wild vertebrates had declined on average by nearly 70 percent from 1970 to 2018. It’s a staggering figure, but a complicated one, too.

A large-scale study in Scotland found that four out of 10 people infected with Covid said they had not fully recovered months later.

The Iraqi Parliament elected a new president less than an hour after rockets targeted the Green Zone, where Parliament is based.

Saudi Arabia pushed back against American threats of consequences for the kingdom’s cutting oil output with Russia and other countries, saying that the move was purely economic.

The U.S. Supreme Court rejected a request from Donald Trump to intervene in litigation over classified documents seized from his Florida estate — a stinging rebuke to the former president.

A jury sentenced the man who killed 17 people in 2018 at his former high school in Parkland, Fla., to life in prison instead of the death penalty. Follow our live coverage.

The U.S. House of Representatives committee investigating the Capitol insurrection plans to subpoena Donald Trump, an aggressive move that will likely be futile. Here is our live coverage.

Erect-crested penguins that inhabit the harsh Antipodes Islands in the South Pacific have a strange parenting move — laying an egg that’s doomed to die. Researchers don’t know why.

Andy Detwiler lost his arms as a child and learned how to use his feet to drive a tractor, feed animals and custom-build farm equipment. He ran 300-acres of farmland and became a YouTube star.

Food waste rotting in a landfill produces methane gas, which quickly heats up the planet. Worldwide, food waste accounts for 8 to 10 percent of global greenhouse gas emissions, at least double that of emissions from aviation.

A lot of it doesn’t need to be there: Thirty-one percent of food that is grown, shipped or sold is wasted. To slow global warming and feed people, governments and entrepreneurs are coming up with different ways to waste less food, writes my colleague Somini Sengupta.

In California, grocery stores must donate food that’s edible but would otherwise be trashed; supermarket chains in Britain have done away with expiration dates on produce; and in South Korea, a campaign to end food waste in landfills has been underway for nearly 20 years.

Food waste in South Korea declined from nearly 3,400 tons a day in 2010 to around 2,800 tons a day in 2019. In the latest experiment, the government has rolled out trash bins equipped with radio-frequency identification sensors that weigh exactly how much food waste each household tosses each month.

Dried porcini mushrooms, fresh fennel and leeks provide deep umami flavor to this version of a classic French onion soup.

George Saunders’s new short-story collection “Liberation Day” is littered with characters who are merely waiting for the final crashing down of the system.

The animated documentary “Eternal Spring” revisits an incident when members of Falun Gong hijacked local television programming in China.

Play the Mini Crossword, and a clue: ♫ ♫ ♫ (5 letters).

Here are the Wordle and the Spelling Bee.

You can find all our puzzles here. You could also learn to play the piano, on a budget digital keyboard recommended by Wirecutter.

That’s it for this week’s morning briefings. Have a great weekend. — Dan

P.S. “We Were Three,” a new podcast from The Times and Serial Productions, is an intimate look at a family in the aftermath of the pandemic.

The latest episode of “The Daily” is an update on N, an Afghan teenager who escaped an arranged marriage to a Taliban member.

Your Friday Briefing: U.S. Inflation Keeps Soaring - The New York Times

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