The Fed raised interest rates (again). President Joe Biden tested negative for COVID-19. And fat shaming isn’t going to help improve health in the United States.
👋 It’s Laura Davis and Julius Lasin. It’s Wednesday. And this is the news you need to know.
But first, let’s bust some monkeypox myths.🕵️♀️ Is it a rash? Can I catch it from shaking hands? As cases rise in the United States, here are some common misconceptions about monkeypox – plus, prevention strategies and what the government is doing about the outbreak. (No, you don’t catch it from monkeys.)
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🌤 What’s the weather up to in your neck of the woods? Check your local forecast here.
What should you know about winning $1 billion?
What would you do with $1 billion? A better question might be: What should you do with $1 billion? The already-giant Mega Millions lottery jackpot ballooned to $1.02 billion after no one matched all six numbers Tuesday to win the top prize. And now we’re all dreaming about being billionaires. But claiming that much money is likely to draw attention from grifters, the taxman, and friends and family members, experts say.
Here’s what you should know:
- If you win, zip your lips:Don’t shout it from the rooftop, said financial adviser Rob Burnette. “Keep it quiet. Get organized and make a plan. Consider staying anonymous, if it’s a possibility.”
- Why shouldn’t you tell everyone? In a word: Scammers.
- How much money will you actually get? That hinges on how you decide to receive your money and what state you live in, among other factors.
- Should you take the lump sum or installment payments? It depends. Mark Steber, chief tax officer at Jackson Hewitt, recommends considering the size of the lottery winning and your projected earnings.
💰 When is the next drawing? And what are your chances of winning? Answers here.
What does the Fed rate hike mean for the economy?
The Federal Reserve raised its key short-term rate by three-quarters of a percentage point for a second straight month in a bid to corral soaring inflation, matching the largest increase since 1994 again. It puts the federal funds rate – which is what banks charge each other for overnight loans – at a range of 2.25% to 2.5%, close to the Fed’s 2.5% long-run, or neutral rate. In recent months, Fed Chair Jerome Powell has said the central bank must “move expeditiously” to that neutral level and then likely beyond it to cool the economy and bring inflation under control. Keep reading to learn how the hike impacts the economy.
What everyone’s talking about
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Biden out of isolation
He’s bustin’ out of isolation, folks. The president has tested negative twice for COVID-19, ending his isolation six days after his July 21 positive test. “My symptoms were mild, my recovery was quick, and I’m feeling great,” Biden said Wednesday. The president remains “fever free,” Biden’s physician, Kevin O’Connor wrote, and his symptoms are “steadily improving, and are almost completely resolved.” He said Biden could discontinue his strict isolation measures. Keep reading.
A ‘substantial’ proposal to bring Brittney Griner home
Secretary of State Antony Blinken said Wednesday that the U.S. made a “substantial” proposal to Russia to bring home WNBA star Brittney Griner. CNN reported that the U.S. offered Viktor Bout, a Russian arms dealer, in a prisoner swap for Griner and Paul Whelan, an American serving a prison sentence there for espionage. Blinken added he would engage with Russia’s Foreign Minister Sergey Lavrov. It was the first public acknowledgment of a deal that could involve a prisoner swap or addressing the sanctions placed on the country after it invaded Ukraine. Keep reading.
Real quick
Extra weight increases health risks in the long run; fat shaming hurts now
Every facet of society has failed fat people. Stigma against excess weight remains in every corner of life even as 42% of Americans fit the medical definition of obesity. With so many Americans carrying extra pounds, it seems logical that society would become more accepting of heavier people. But the public perception is that shaming people for their size will provoke them to lose weight. Advocates say there needs to be a shift. Read more about the negative impacts of fat-shaming on physical and mental health in the second part of USA TODAY’s “Rethinking Obesity” series here.
A break from the news
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Laura L. Davis is an Audience Editor at USA TODAY. Send her an email at laura@usatoday.com or follow along with her adventures – and misadventures – on Twitter. Support quality journalism like this? Subscribe to USA TODAY here.
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