Good morning. It's Friday, Nov. 11. Thank you to all of our veterans, active military, and their families for your service and sacrifice—we hope everyone has a happy and safe Veterans Day. First time reading? Sign up here.
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Inflation (Slightly) Eases |
US inflation rose 7.7% year-over-year in October, down from 8.2% in September and lower than the 7.9% analysts had expected. The figure, released in government data yesterday, represents the smallest 12-month increase since January. See data breakdown here and historical data in charts here.
The decline in the consumer price index, a proxy for inflation that tracks the price of a basket of goods and services, is primarily driven by price decreases for used vehicles (-2.4%), apparel (-0.7%), and medical care (-0.6%). The core consumer price index, which removes volatile food and energy prices, rose 6.3% year-over-year in October, compared to 6.6% year-over-year in September.
The inflation rate, however, remains above the Federal Reserve's 2% target (see 101). Analysts expect the Fed to likely opt for a smaller 0.50% increase in interest rates next month to continue to curb inflation.
US stock markets rose the most since 2020 on the news (S&P 500 +5.5%, Dow +3.7%, Nasdaq +7.4%). |
Sunday will mark the 40th anniversary of the dedication of the Vietnam Veterans Memorial. More than 58,000 names of every US service member who died or went missing in the Vietnam War have been read this week leading up to a Veterans Day Observance at the memorial today.
The wall, consisting of two 200-foot-long sections of black granite listing the names in chronological order, was designed by then-21-year-old Yale student Maya Lin and cost $8.4M to construct. More than 5 million people each year visit the wall, making it one of the most visited memorials on the National Mall. See some of the items that have been left at the wall.
Today, the country honors those who served and are serving in military. Veterans Day became an official federal holiday in 1938, marking the recognized end of World War I on the eleventh hour of the 11th day of the 11th month.
Watch Veterans Day ceremonies at Arlington National Cemetery here. |
Doctors have successfully prevented the symptoms of a rare genetic childhood disease via treatments delivered while the child was still in the womb, a first-of-its-kind achievement that raises the potential for new in-utero therapies for deadly conditions.
Pompe disease arises from a genetic mutation that prevents the body from properly breaking down glycogen, a sugar used for energy (see 101), resulting in weak heart and skeletal muscles. Most infants begin receiving treatments immediately after birth but suffer irreversible and often fatal organ damage during fetal development.
The patient, now a toddler named Ayla—who had two siblings die from the disease—began receiving infusions of the needed enzyme at 24 weeks via injections into her mother's umbilical vein. Doctors say Ayla will require regular infusions throughout her life, but otherwise shows no signs of the disease.
Doctors say the approach may be used to treat other deadly inherited diseases, including alpha thalassemia, which can cause severe anemia and death in infants. |
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Sports, Entertainment, & Culture
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> DC attorney general files lawsuit against NFL and Washington Commanders owner Daniel Snyder for allegedly withholding knowledge of toxic work environment investigation (More) |
> More than 150 pieces of art owned by late Microsoft cofounder Paul Allen sell at auction for $1.6B, breaking the record for most expensive art collection ever sold (More) |
> Oscar-winning filmmaker Paul Haggis found liable on all three counts of 2013 rape and sexual assault in New York civil trial (More) |
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> NASA begins inspections of its Artemis 1 rocket, which will attempt to launch Wednesday afternoon (More) |
> Astronomers spot rare medium-sized black hole after an intense radiation burst as it consumed a star; galaxy is located 850 million light-years away (More) | What are tidal disruption events? (More, via YouTube) |
> Neuroscientists pinpoint brain circuits in mice that regulate prosocial and selfish behaviors; connections lie across regions associated with emotional responses and complex planning (More) |
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> Elon Musk tells Twitter employees to prepare for “arduous” times ahead in company communication, informs workers they must return to the office; additional executives announce departure from the company (More) |
> Average US 30-year mortgage rates drop from 7.2% to 6.6% after inflation data released; rate still up over 100% from start of the year (More) |
> E-cigarette maker Juul Labs secures financing deal to avoid bankruptcy, will cut 30% of workforce (More) |
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> Midterm Senate races in Arizona and Nevada remain too close to call, with officials working through mail-in ballots; incumbent Mark Kelly (D) leads by five points in Arizona with 71% of the vote counted, challenger Adam Laxalt (R) leads by 1.8 points in Nevada with 83% of the vote counter (More) | See up-to-date results (More) |
> Ukrainian forces advance to the perimeter of Kherson following Russian retreat; strategic southern port city had been occupied by Russia since March (More) | See updates on the war (More) |
> Hurricane Nicole makes landfall in Florida, weakens to tropical storm; at least two people killed, more than 300,000 without power (More) | See drone footage of damage near Daytona Beach (More) |
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> The Changing Face of US Veterans
Pew | Katherine Schaeffer. The US honors the roughly 19 million veterans alive today, with just over 200,000 having served in World War II. See a demographic breakdown of US veterans. (Read)
> War Stories
NYT | Staff. (2018) Family members recount stories of relatives who fought in the First World War. (Read) |
> Collapse of a Crypto Billionaire
CoinDesk | David Morris. Not long ago, Sam Bankman-Fried was known by some as the JP Morgan of cryptocurrency. This week, his fortunes evaporated overnight. (Read)
> The Most Interesting Fruit in the World
Freakonomics | Stephen Dubner. (Podcast) Just a century ago, bananas were unheard of in the US—but now they are the country's most popular fruit. (Listen) |
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