Inflation Is Up and Trump Wants Powell Out

What's Happening

Economy

Inflation Is Up and Trump Wants Powell Out

What's going on: It might be time to check on that rainy day fund. Inflation picked up speed in June, hitting its highest level in four months. Prices rose 0.3% last month, bringing the annual inflation rate to 2.7%, according to new Consumer Price Index data from the Bureau of Labor Statistics. One reason? Tariffs are starting to bite. While President Donald Trump called the numbers “very good,” the data will likely fuel his ongoing pressure campaign on Fed Chair Jerome Powell to cut interest rates. Trump is pushing for a dramatic 1% interest rate, saying it would boost spending and stimulate the economy. Some experts warn that rate could actually do more harm than good, and Powell won’t act until inflation holds steady.

What it means: Amid Powell’s resistance to cutting rates right now, Treasury Secretary Scott Bessent says the admin’s already looking for the next Fed Chair (and there’s a contender). That only matters if Powell steps down before his term ends next May, or if Trump finds a legal way to oust him. Even if Powell exits stage left, it doesn’t mean immediate interest rate cuts. Any move has to get a thumbs-up from the Fed’s board. And some policymakers aren’t exactly rushing in — they’re concerned that tariffs and sweeping deportation policies could keep pushing inflation up. Plus, Powell (yes, Trump’s own 2018 pick) has become a reassuring presence for Wall Street. His fate could come down to what the Fed does at its next meeting at the end of this month…and how Trump feels about it.

Related: Trump’s Economic Policies Are on a Collision Course (Axios)

Health

The Truth About Doctors and Vaccine Dollars

What’s going on: Doctors are speaking out after Health and Human Services Secretary Robert F. Kennedy Jr. claimed in a recent Tucker Carlson interview that pediatricians are financially incentivized to push vaccines. In reality, it’s the opposite. Vaccines are actually a financial burden for most clinics, according to The New York Times. A 2017 study found nearly a quarter of family medicine providers and 12% of pediatricians stopped buying vaccines because they were too expensive. One doctor started sending patients to the local health department or pharmacy because the practice couldn’t afford the cost, a concession she said “hurts my heart.”  

What it means: Experts say Kennedy’s comment wasn’t just inaccurate — it struck a nerve in the medical community. Doctors say pushing the idea that pediatricians are in it for profit undermines public trust in a system built on prevention. One doctor noted that if profit were the goal, they’d probably make more by treating preventable diseases than stopping them. And the data shows most providers lose money or break even buying vaccines. The rhetoric comes as US vaccination rates drop in over 30 states and measles cases hit a 30-year record high.

Related: Nicotine Pouches Are Behind a Surge in Child Poisonings (CNN)

Technology

The Browser Boom Is Here

What's going on: We’ve come a long way since the days of the little blue Internet Explorer icon (the dial-up sound is ringing in our brains just thinking about it). You’ve likely already noticed Google Chrome’s Gemini summarizing your search results, but the so-called browser boom is just getting started. Perplexity’s Comet is up and running, newcomer Dia from The Browser Company is making a splash, and OpenAI is getting ready to release its version. These new tools aim to make proactive decisions and take actions on a user’s behalf, based on information they learn, NBC News reports. That might mean booking dinner reservations at times it knows you like to eat, applying for jobs that fit your skillset, or online shopping for you. It can’t complete transactions without you, but can track down deals — yes, now the “girl math” does itself.

What it means: For years, most of us have been in a state of what The New York Times calls “browser inertia,” faithfully relying on good ‘ol Safari, Chrome, or Firefox. It’s been this way for decades, but now these companies want to rewrite the playlist. With that said, some experts question how well the AI browsers will work — and if they should exist at all. Privacy is a major concern: You’re giving AI even more power to make decisions for you based on very specific data and personal preferences. Browsers are also subject to the same mistakes as chatbots — they can hallucinate. So maybe don’t rely on it too much, or you could end up with a dinner reservation at a fictional restaurant.

Related: Is the FBI’s Jeffrey Epstein Prison Video Missing Key Footage? (Futurism)

Highlight Reel

BY SKIMM SPORTS

The week's sports news and culture stories, ranked.

Hang it in the Louvre: Wimbledon may be over, but the courtside reaction shots? Still undefeated.

Chaotic: President Trump said he’s considering an executive order to officially change “soccer” to “football” in the US. He does love a name change…

Teamwork: Indiana Fever’s Aliyah Boston is the latest WNBA star to invest in a NWSL team. Talent recognizes talent.

Foul on the play?: A baby crawl-off got interesting when a toddler took her first steps. A born competitor. 

Settle This

Which actress just earned their first-ever Emmy nomination?

Extra Credit

Tune In

Attention, sports fans: The 2025 ESPY Awards (aka the Oscars of sports) are taking place tonight — and, naturally, the lineup’s stacked. Some of the athletes expected to attend include WNBA legend Diana Taurasi, former USWNT player Alex Morgan, the UConn Women’s Basketball Team, Philadelphia Eagles Head Coach Nick Sirianni, and the most decorated gymnast in history (yes, Simone Biles). Will Biles add to her trophy collection with a win in the best athlete in the women’s sports category? Or will WNBA player A'ja Wilson take home the award once again? And will the Eagles add to their list of 2025 victories by being named best team? Who knows, but we’ll be watching at 8 pm ET to find out.

Game Time

Looking for a crossword that’s not impossible to solve? You’re in luck. This one even offers hints when you get stuck. The faster you finish, the better your score — and the more impressed the group chat will be. Go on.