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U.S. President Joe Biden unveils plan to tackle the cost of living crisis

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As the cost of living soars in America, U.S. President Joe Biden sits down with Federal Reserve Chair Jerome Powell to work out a plan

There’s no doubt about it, everyone is feeling the pinch of inflation right now. Whether it be the price of petrol, food, rent or mortgages. So when does it end?

Well, President Joe Biden met with Federal Reserve Chairman Jerome Powell as soaring inflation takes a bite out of Americans’ pockets but also out of the president’s public approval.

Biden and Powell spoke about the need to cool inflation from its highest levels in 40 years and endeavour to help Americans who are doing it tough.

This was the first meeting since Powell was confirmed for his second term by the Senate.

The meeting spoke about the critical transition ahead for the U.S. economy and the need for interest rate hikes in an attempt to slow inflation.

Many contributing issues were highlighted including the impacts of the war in Ukraine, supply chain crunches, and post-pandemic recovery.

President Biden also wrote an op-ed in the Wall Street Journal echoing these cumulative concerns that have led the economy to its present moment.

Joe Biden article, The Wall Street Journal

Just like other leading economies around the world, the United States Government poured trillions into an economic stimulus to keep the country afloat.

However, now it is feeling the brunt of economic downfall. Biden reiterated the independence of the Federal Reserve’s decisions moving forward.

“The president underscored to Chair Powell in the meeting what he has underscored consistently including today — that he respects the independence of the Federal Reserve.

We have run this first leg of the race at a very rapid clip that has put us in the strong position relative to our peers, but this is a marathon and we have to move and shift to stable resilient growth,”

White House economic adviser Brian Deese

For now, there is no immediate reprieve for consumers. The Federal Reserve has raised interest rates and plans to impose two more rate hikes in its next two meetings.

However, these ongoing economic hardships will be front of mind when American voters head to the polls for November’s midterms.

They’re not only hurting Americans’ back pocket but also damaging Biden’s approval rating.

Holly is an anchor and reporter at Ticker. She's experienced in live reporting, and has previously covered the Covid-19 pandemic on-location. She's passionate about telling stories in business, climate and health.

World

North Korea fires short-range ballistic missile

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The launch continues a provocative streak in weapons testing as a US aircraft carrier visits South Korea

The launch was detected by South Korean and US militaries, who are currently conducting their annual joint military exercises in the region.

The US aircraft carrier USS Carl Vinson is also taking part in the exercises, in a show of force against North Korea’s continued nuclear and missile testing.

North Korea's push to improve the lives of citizens

North Korea’s push to improve the lives of citizens

North Korea has conducted a series of missile and nuclear tests in recent months, despite international condemnation and UN sanctions.

The latest launch comes just days after North Korea test-fired a new type of anti-aircraft missile, and as the US prepares to deploy its THAAD anti-missile system in South Korea.

The US has also sent a naval strike group to the region in a show of force, and is reportedly considering additional sanctions against North Korea.

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Super Typhoon Noru smashes into the Philippines

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Super Typhoon Noru is continuing to strengthen as it approaches the northern Philippines.

The storm is expected to make landfall late Sunday afternoon local time and could bring damaging winds and heavy rains to the region.

Noru is currently a Category 3 storm on the Saffir-Simpson Hurricane Wind Scale, with maximum sustained winds of 115 mph (185 km/h).

The typhoon is expected to bring heavy rains and strong winds to the Philippines, which could lead to significant damage.

If you are in the path of Super Typhoon Noru, be sure to take all necessary precautions to protect yourself and your property from the storm.

Stay tuned to local news and weather reports for the latest information on the typhoon’s path and expected impacts.

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Iran cuts internet access over “hijab violation”

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Iranian authorities say they will restrict internet access in the country until calm is restored to the streets

Protests over the death of a young woman in the custody of the morality police continue to rock the Islamic Republic.

Thousands of Iranians have taken to the streets in protest since the death last week of 22-year-old Mahsa Amini, who was apprehended in Tehran and taken to a “re-education center,” apparently for not wearing her hijab properly.

Amini’s death has sparked outrage among Iranian women, who have long been subject to repressive rules mandating their dress and behavior.

In recent years, the government has stepped up its enforcement of these rules, with morality police attacking women for offenses such as wearing loose headscarves or talking to men in public.

The death of Amini, who was reportedly beaten in custody, has galvanized young Iranians who are fed up with the repression they have faced for their entire lives.

In addition to taking to the streets, they are using social media to spread the word about the protests and to call for an end to the government’s oppressive policies.

It remains to be seen whether the current wave of protests will lead to lasting change in Iran. But one thing is clear: the country’s young people are no longer willing to tolerate the status quo.

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