James Webb, 'Succession,' and the Next Gerber Baby

Inflation Growth Slows

Annual inflation in the US rose 3% in June, marking the smallest year-over-year rate increase since March 2021, according to government data released yesterday. On a monthly basis, inflation grew 0.2% in June. Both figures are lower than analyst expectations of 3.1% growth year-over-year and 0.3% growth month-over-month. 

The consumer price index, which measures price changes for a basket of goods and services, rose 4.8% year-over-year when excluding volatile food and energy prices. The rise in inflation is partly due to high housing costs, which were offset by declines in the prices of used cars and trucks, airline fares, and food items such as bacon, milk, and eggs. See a detailed breakout of prices for various commodities here.

The consumer price index has cooled since peaking at a 9.1% year-over-year growth rate in June 2022 (see historical chart) but remains above the Federal Reserve's 2% annual target. Fed officials are expected to resume raising interest rates at their upcoming two-day meeting July 25-26. 

A Year of Discoveries

Yesterday marked the one-year anniversary of the release of the first images produced by NASA's groundbreaking James Webb Space Telescope, an observatory that has drastically expanded humanity's knowledge of the early universe while inspiring the world with a continual stream of stunning deep-space images (see full gallery).

Launched in December 2021 in collaboration with the European and Canadian space agencies, the Webb orbits the sun at a point roughly 1 million miles beyond Earth (see visual), unlike its Earth-orbiting predecessor, Hubble. Its infrared cameras capture deep-space starlight invisible to the human eye or obscured by dust clouds, enabling it to effectively look backward in time into the early stages of the universe. 

To honor the anniversary, NASA released new images of 50 young sun-sized stars within the Rho Ophiuchi cloud complex, the closest star-forming region to Earth—roughly 390 light-years away. Learn about the aesthetic choices behind the production of the Webb images here. 

HBO Leads Emmys

Nominations for the 75th Primetime Emmy Awards were announced yesterday, with HBO dominating other outlets with 127 total nods. Three shows—"Succession" (27), "The Last of Us" (24), and "The White Lotus" (23)—combined for 74 nominations. "Ted Lasso," on Apple TV+, came in fourth with 21 nominations. 

"Succession," which follows the dynamics of the billionaire Roy family and their media mogul patriarch, wrapped its final season in May. All four main actors—Brian Cox (Logan Roy), Kieran Culkin (Roman), Jeremy Strong (Kendall), and Sarah Snook (Siobhan)—are up for best lead in a drama. The nominations haul comes despite notching only a third of average viewership compared to "The Last of Us" and another HBO hit, "House of the Dragon" (9 million versus 30 million per episode, respectively).

The announcement came against the backdrop of the ongoing writers strike, while the actors union held a vote late last night whether to also boycott over a pay dispute. 

The ceremony will be held live Sept. 18 (8 pm ET, FOX). See a list of all nominations here.

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In-Depth

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> A Conversation with Megan Rapinoe 

Time | Sean Gregory. US soccer legend Megan Rapinoe, who plans to retire at the end of the 2023 National Women's Soccer League season, chats about advocating for equality, winning a third World Cup title, and more. (Read)

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Meet Maddie, the 2023 Gerber Baby.

Marking 100 years of the iconic Hollywood(land) sign.

Prehistoric aerial predator and aquatic reptile fossils to be auctioned.

Preview Timothée Chalamet as chocolate enthusiast Willy Wonka.

What it takes to be a good Superman.

Ranking Big Ten college football traditions.

Why everyone should read children’s books.

A third of US couples have opted for a “sleep divorce.”

Clickbait: Burger King redefines a cheeseburger.

Historybook: Julius Caesar born (100 BCE); First World Cup takes place in Uruguay (1930); Sir Patrick Stewart born (1940); Artist Frida Kahlo dies (1954); Live Aid concert raises more than $125M for Africa famine relief (1985).