Timeframe: June 18 to June 24, 2022
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1. Politics
US Supreme Court expands gun rights, with nation divided
In a major expansion of gun rights after a series of mass shootings, the Supreme Court said Thursday that Americans have a right to carry firearms in public for self-defense, a ruling likely to lead to more people legally armed. The decision came out as Congress and states debate gun-control legislation.
About one-quarter of the U.S. population lives in states expected to be affected by the ruling, which struck down a New York gun law. The high court’s first major gun decision in more than a decade split the court 6-3, with the court’s conservatives in the majority and liberals in dissent.
Source: AP News
Hong Kong Lawyers Are The Next Target of Xi’s National Security Law
Lawyers in Hong Kong are the next target of Xi Jinping’s national security crackdown, with concerns mounting that the rule of law in the international financial center is becoming more influenced by the mainland. Authorities have ramped up pressure on lawyers who have defended some of the 10,000 protesters arrested during the 2019 demonstrations, while former Hong Kong Bar Association chief and human rights lawyer Paul Harris fled the city in March after being questioned by national security police. Lawyers in Hong Kong are operating in an environment where many are debating whether even recognizing the accomplishments of the accused could run afoul of the security law.
Source: Bloomberg
2. Economics & Business
Russia’s ruble is the strongest currency in the world this year
Although Russia was amidst sanctions and a major military conflict, imports decreased, but the high commodity prices, especially fuel, increased their net exports. As a result, demand for Rubel increased. The increasing cost of commodities and Russia’s aggressive measures to ensure that money didn’t leave its country resulted in the Rubel appreciating in value.
Source: CBS News
Powell Says Soft Landing ‘Very Challenging;’ Recession Possible
Federal Reserve Chair Jerome Powell gave his most explicit acknowledgment to date that steep interest-rate hikes could tip the US economy into recession. Testifying before the Senate Banking Committee, Powell said the other risk was not being able to get inflation under control. Economists are increasingly flagging the likelihood of a downturn within the next two years. Powell told the hearing that officials “anticipate that ongoing rate increases will be appropriate” to cool the hottest price pressures in 40 years. Meanwhile, inflation in the UK hit a new 40-year high, with further gains expected.
Source: Bloomberg
Europe may shift back to coal as Russia turns down gas flows
Many countries in Europe buy gas from Russia, but the reduced gas flows are causing them to find an alternative to fuel supplies. As a result, many are shifting to coal as a last resort to curb any threats of energy crisis in winter.
Source: Reuters
3. Miscellaneous
Afghanistan earthquake: Survivors struggle for food and shelter amidst cholera fears
Survivors of Afghanistan’s deadliest earthquake in two decades say they have nothing to eat, no shelter, and fear a possible cholera outbreak.
Afghan and international aid agencies are assessing the damage and delivering supplies, but this is a major and developing crisis, one which comes on top of the country’s already dire humanitarian situation.
The United Nations, which is also helping support victims, is warning of the risk of a possible cholera outbreak.
Source: BBC
Disclaimer: The information provided here is obtained solely from the aforementioned third parties. Youth Policy Forum (YPF) is not responsible for any misinformation or misrepresentation.