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Mo News: Inflation #s, Jan 6. in Prime-Time, Formula Restart

Author

Mosheh Oinounou
June 06, 2022

Hi everyone,

Hope you had a nice weekend! Lots on the agenda this week:

  • Inflation data-- New numbers out Friday are expected to show inflation slowed down (SLIGHTLY).

  • But gas prices keep climbing! Which states saw the biggest increases this past week.

  • Some good news when it comes to jobs: Despite inflation and recession concerns, job growth continued in May. We'll break down the numbers.

  • The House committee looking into the January 6 insurrection is going prime-time this week-- what to expect from the hearing.

  • Abbott has officially restarted baby formula production at its Michigan facility, but NOT for Similac and its other popular brands.

  • Major flooding in Miami as Tropical Storm Alex, the first named storm of the Atlantic hurricane season, heads toward Bermuda.

  • Rafael Nadal won the French Open at 36-years-old, his 14th French Open title.

  • And as always, Good Mood Monday to start the week with a special reminder to put your phone down every once in awhile.

Mosh is back in the US and will resume news coverage on Instagram. There is no Mondays with Mosh Instagram Live tonight. We'll be back to our regularly scheduled programming soon.

~ Jill

💰 Inflation Data: Not that we need any more data to let us know that pretty much everything we buy is costing a fortune, but on Friday the government will release the latest Consumer Price Index (CPI). ~ CNN

  • Prices surged 8.3% from April 2021 to April of this year-- which is near record highs but actually a slight drop from the 8.5% jump from March 2021 to March 2022.

  • For perspective, the Fed would ideally like CPI to slow to about a 3% to 3.5%.

  • ⛽ GAS PRICES: One thing helping to drive up inflation-- gas prices. According to AAA, the national average is now $4.85 a gallon (compared to $3.00 last year).These 10 states have seen the largest increases in their averages since last week: Indiana (+33 cents), Ohio (+31 cents), Illinois (+30 cents), Kentucky (+26 cents), Wisconsin (+26 cents), Michigan (+24 cents), Colorado (+21 cents), New Mexico (+19 cents), Nebraska (+18 cents) and Minnesota (+18 cents).And California, you're NOT dreaming...

Hi everyone, Hope you had a nice weekend! Lots on the agenda this week: Inflation data-- New numbers out Friday are expected to show inflation slowed down (SLIGHTLY). But gas prices keep climbing! Which states saw the biggest increases this past week. Some good news when it comes to jobs: Despite inflation and recession concerns, job growth continued in May. We'll break down the numbers. The House committee looking into the January 6 insurrection is going prime-time this week-- what to expect from the hearing. Abbott has officially restarted baby formula production at its Michigan facility, but NOT for Similac and its other popular brands. Major flooding in Miami as Tropical Storm Alex, the first named storm of the Atlantic hurricane season, heads toward Bermuda. Rafael Nadal won the French Open at 36-years-old, his 14th French Open title. And as always, Good Mood Monday to start the week with a special reminder to put your phone down every once in awhile. Mosh is back in the US and will resume news coverage on Instagram. There is no Mondays with Mosh Instagram Live tonight. We'll be back to our regularly scheduled programming soon. ~ Jill 💰 Inflation Data: Not that we need any more data to let us know that pretty much everything we buy is costing a fortune, but on Friday the government will release the latest Consumer Price Index (CPI). ~ CNN Prices surged 8.3% from April 2021 to April of this year-- which is near record highs but actually a slight drop from the 8.5% jump from March 2021 to March 2022. For perspective, the Fed would ideally like CPI to slow to about a 3% to 3.5%. ⛽ GAS PRICES: One thing helping to drive up inflation-- gas prices. According to AAA, the national average is now $4.85 a gallon (compared to $3.00 last year). These 10 states have seen the largest increases in their averages since last week: Indiana (+33 cents), Ohio (+31 cents), Illinois (+30 cents), Kentucky (+26 cents), Wisconsin (+26 cents), Michigan (+24 cents), Colorado (+21 cents), New Mexico (+19 cents), Nebraska (+18 cents) and Minnesota (+18 cents). And California, you're NOT dreaming... 🚨 January 6th Prime-Time Hearing: The House committee investigating the January 6 insurrection at the Capitol will hold its first prime-time public hearing on Thursday at 8pm ET. According to the committee, the panel will "present previously unseen material documenting January 6th, receive witness testimony, preview additional hearings, and provide the American people a summary of its findings about the coordinated, multi-step effort to overturn the results of the 2020 presidential election and prevent the transfer of power." ~ NPR This will be the committee's first public hearing in nearly a year. Star Witness: The committee hasn't said who will testify, but Axios reports J. Michael Luttig, a former federal judge and lawyer who advised former Vice President Mike Pence, is on the list. The panel can't bring criminal charges against the former president or anyone involved. 🗞 THE SPEED READ 🍼 Abbott, baby formula company whose plant shutdown led to shortage, restarting production (CBS News) Baby formula maker Abbott Nutrition said Saturday that it is restarting production at its Michigan plant after meeting requirements from the FDA. Abbott will start production of EleCare and other specialty and metabolic formulas and the initial product release to consumers is expected to begin on June 20. BUT the production of Similac and other formulas is still on pause-- which means store shelves will likely be empty for awhile longer. Current Status: Almost 74% of store shelves are empty, and 10 states are 90% out of baby formula.(Bloomberg) 💔 Over 50 feared dead in Nigeria church attack, officials say (AP) Gunmen opened fire on worshippers and detonated explosives at a Catholic church in southwestern Nigeria on Sunday, leaving dozens feared dead, state lawmakers said. The attackers targeted the church just as the worshippers gathered on Pentecost Sunday. Among the dead were many children. 🇺🇦 Putin warns Russia will strike new targets if long-range missiles are supplied to Ukraine (CNN) Russian President Vladimir Putin warned on Sunday that Moscow would strike new targets if the US supplied long-range missiles to Ukraine, according to Russian state media. Delivering new arms to Kyiv only aims to “drag out the armed conflict for as long as possible,” Putin said in an interview to Rossiya-1 TV channel. 🌧 Cars stalled. Fish swam: Scenes from South Florida neighborhoods after the heavy rain (Miami Herald) A tropical disturbance has dumped nine to 11 inches of rain across South Florida, flooding neighborhoods from the coast to the edge of the Everglades. The soggier side of this hurricane season’s first potential tropical cyclone started to soak the region Friday and continued through a dreary Saturday. That tropical disturbance is now Tropical Storm Alex, the first named storm of the Atlantic hurricane season. It's currently en route to Bermuda. (Weather Channel) 🚨 At least 54 injured, 11 killed in 7 separate mass shootings this weekend (Axios) The U.S. continues to grapple with mass shootings as at least seven have occurred over the weekend, resulting in the deaths of 11 people and injuries to 54 others. Some of the shootings include-- An outdoor high school graduation party in Summerton, South Carolina, ended in bloodshed after two cars pulled up to a house and before shots were fired. A shooting near a bar in Chattanooga, Tennessee, left 14 people struck while three others were hit by cars. A bustling street in Philadelphia saw multiple shooters open fire on Saturday night, killing three people and injuring at least 11 others. Five teenagers were shot and hospitalized after gunfire broke out at a West Texas high school graduation party at 1am Saturday. A shooting at a strip mall in Phoenix left a 14-year-old girl dead and eight others injured. 🚨 GOP lawmaker calls it quits after being ‘annihilated’ for backing gun control (NBC News) Rep. Chris Jacobs of New York publicly bucked his party last week when he said he would back an assault weapons ban bill if it came to the House floor for a vote. Then on Friday he said that new stance had cost him his political career in the Republican Party and that he's ending his re-election bid. “If you stray from a party position, you are annihilated,” Jacobs said. “For the Republicans, it became pretty apparent to me over the last week that that issue is gun control — any gun control.” Jacobs was endorsed by the NRA just two years ago. He said he'd changed his position on gun control in the wake of mass shootings in Buffalo, New York and Uvalde, Texas. 📈 Payrolls rose 390,000 in May, better than expected as companies keep hiring (CNBC) The U.S. economy added 390,000 jobs in May, better than expected despite fears of an economic slowdown and with a roaring pace of inflation. At the same time, the unemployment rate held at 3.6%, just above the lowest level since December 1969. Despite the job gains, the BLS household survey showed that the labor market has yet to recover all the positions lost during the pandemic. Total employment remains 440,000 below the pre-Covid level. 🏆 Rafael Nadal wins historic 14th French Open title in final versus Casper Ruud (ESPN) Experience vs. youth. Why did we ever doubt him? Nadal has now won both Slams this season, having triumphed at the Australian Open back in January, all at the age of 36 years old and with an injured left foot. Nadal extended his incredible tally of victories in Paris to 14 -- and set another record with his 22nd Grand Slam title as well. ☀️ GOOD MOOD MONDAY A great reminder to put down your phone every once in awhile. The only guy in this photo watching Tiger Woods at the US PGA Championship with his own eyes-- and not through his cell phone-- just got a Michelob Ultra beer sponsorship. Cheers to that! ⭐️ Premium Content: Enjoying Mo News? Want access to newsmaker interviews, extra editions every week, additional content in an exclusive Facebook group and an opportunity to ask me questions directly? Sign Up for our premium newsletter subscription. It will help us grow the newsletter and continue to expand to multiple platforms. Special Deal: 15% off to become an annual member. 📰 Miss a day? Check out past newsletters here 📧 Any questions or feedback about this newsletter? Email Us 📱 Follow us on Instagram, Facebook, Twitter, Youtube and TikTok

🚨 January 6th Prime-Time Hearing: The House committee investigating the January 6 insurrection at the Capitol will hold its first prime-time public hearing on Thursday at 8pm ET. According to the committee, the panel will "present previously unseen material documenting January 6th, receive witness testimony, preview additional hearings, and provide the American people a summary of its findings about the coordinated, multi-step effort to overturn the results of the 2020 presidential election and prevent the transfer of power." ~ NPR

  • This will be the committee's first public hearing in nearly a year.

  • Star Witness: The committee hasn't said who will testify, but Axios reports J. Michael Luttig, a former federal judge and lawyer who advised former Vice President Mike Pence, is on the list.

  • The panel can't bring criminal charges against the former president or anyone involved.

🗞 THE SPEED READ

Baby formula maker Abbott Nutrition said Saturday that it is restarting production at its Michigan plant after meeting requirements from the FDA. Abbott will start production of EleCare and other specialty and metabolic formulas and the initial product release to consumers is expected to begin on June 20.

  • BUT the production of Similac and other formulas is still on pause-- which means store shelves will likely be empty for awhile longer.

  • Current Status: Almost 74% of store shelves are empty, and 10 states are 90% out of baby formula.(Bloomberg)

Gunmen opened fire on worshippers and detonated explosives at a Catholic church in southwestern Nigeria on Sunday, leaving dozens feared dead, state lawmakers said. The attackers targeted the church just as the worshippers gathered on Pentecost Sunday. Among the dead were many children.

Russian President Vladimir Putin warned on Sunday that Moscow would strike new targets if the US supplied long-range missiles to Ukraine, according to Russian state media. Delivering new arms to Kyiv only aims to “drag out the armed conflict for as long as possible,” Putin said in an interview to Rossiya-1 TV channel.

  • A tropical disturbance has dumped nine to 11 inches of rain across South Florida, flooding neighborhoods from the coast to the edge of the Everglades. The soggier side of this hurricane season’s first potential tropical cyclone started to soak the region Friday and continued through a dreary Saturday.

Hi everyone, Hope you had a nice weekend! Lots on the agenda this week: Inflation data-- New numbers out Friday are expected to show inflation slowed down (SLIGHTLY). But gas prices keep climbing! Which states saw the biggest increases this past week. Some good news when it comes to jobs: Despite inflation and recession concerns, job growth continued in May. We'll break down the numbers. The House committee looking into the January 6 insurrection is going prime-time this week-- what to expect from the hearing. Abbott has officially restarted baby formula production at its Michigan facility, but NOT for Similac and its other popular brands. Major flooding in Miami as Tropical Storm Alex, the first named storm of the Atlantic hurricane season, heads toward Bermuda. Rafael Nadal won the French Open at 36-years-old, his 14th French Open title. And as always, Good Mood Monday to start the week with a special reminder to put your phone down every once in awhile. Mosh is back in the US and will resume news coverage on Instagram. There is no Mondays with Mosh Instagram Live tonight. We'll be back to our regularly scheduled programming soon. ~ Jill 💰 Inflation Data: Not that we need any more data to let us know that pretty much everything we buy is costing a fortune, but on Friday the government will release the latest Consumer Price Index (CPI). ~ CNN Prices surged 8.3% from April 2021 to April of this year-- which is near record highs but actually a slight drop from the 8.5% jump from March 2021 to March 2022. For perspective, the Fed would ideally like CPI to slow to about a 3% to 3.5%. ⛽ GAS PRICES: One thing helping to drive up inflation-- gas prices. According to AAA, the national average is now $4.85 a gallon (compared to $3.00 last year). These 10 states have seen the largest increases in their averages since last week: Indiana (+33 cents), Ohio (+31 cents), Illinois (+30 cents), Kentucky (+26 cents), Wisconsin (+26 cents), Michigan (+24 cents), Colorado (+21 cents), New Mexico (+19 cents), Nebraska (+18 cents) and Minnesota (+18 cents). And California, you're NOT dreaming... 🚨 January 6th Prime-Time Hearing: The House committee investigating the January 6 insurrection at the Capitol will hold its first prime-time public hearing on Thursday at 8pm ET. According to the committee, the panel will "present previously unseen material documenting January 6th, receive witness testimony, preview additional hearings, and provide the American people a summary of its findings about the coordinated, multi-step effort to overturn the results of the 2020 presidential election and prevent the transfer of power." ~ NPR This will be the committee's first public hearing in nearly a year. Star Witness: The committee hasn't said who will testify, but Axios reports J. Michael Luttig, a former federal judge and lawyer who advised former Vice President Mike Pence, is on the list. The panel can't bring criminal charges against the former president or anyone involved. 🗞 THE SPEED READ 🍼 Abbott, baby formula company whose plant shutdown led to shortage, restarting production (CBS News) Baby formula maker Abbott Nutrition said Saturday that it is restarting production at its Michigan plant after meeting requirements from the FDA. Abbott will start production of EleCare and other specialty and metabolic formulas and the initial product release to consumers is expected to begin on June 20. BUT the production of Similac and other formulas is still on pause-- which means store shelves will likely be empty for awhile longer. Current Status: Almost 74% of store shelves are empty, and 10 states are 90% out of baby formula.(Bloomberg) 💔 Over 50 feared dead in Nigeria church attack, officials say (AP) Gunmen opened fire on worshippers and detonated explosives at a Catholic church in southwestern Nigeria on Sunday, leaving dozens feared dead, state lawmakers said. The attackers targeted the church just as the worshippers gathered on Pentecost Sunday. Among the dead were many children. 🇺🇦 Putin warns Russia will strike new targets if long-range missiles are supplied to Ukraine (CNN) Russian President Vladimir Putin warned on Sunday that Moscow would strike new targets if the US supplied long-range missiles to Ukraine, according to Russian state media. Delivering new arms to Kyiv only aims to “drag out the armed conflict for as long as possible,” Putin said in an interview to Rossiya-1 TV channel. 🌧 Cars stalled. Fish swam: Scenes from South Florida neighborhoods after the heavy rain (Miami Herald) A tropical disturbance has dumped nine to 11 inches of rain across South Florida, flooding neighborhoods from the coast to the edge of the Everglades. The soggier side of this hurricane season’s first potential tropical cyclone started to soak the region Friday and continued through a dreary Saturday. That tropical disturbance is now Tropical Storm Alex, the first named storm of the Atlantic hurricane season. It's currently en route to Bermuda. (Weather Channel) 🚨 At least 54 injured, 11 killed in 7 separate mass shootings this weekend (Axios) The U.S. continues to grapple with mass shootings as at least seven have occurred over the weekend, resulting in the deaths of 11 people and injuries to 54 others. Some of the shootings include-- An outdoor high school graduation party in Summerton, South Carolina, ended in bloodshed after two cars pulled up to a house and before shots were fired. A shooting near a bar in Chattanooga, Tennessee, left 14 people struck while three others were hit by cars. A bustling street in Philadelphia saw multiple shooters open fire on Saturday night, killing three people and injuring at least 11 others. Five teenagers were shot and hospitalized after gunfire broke out at a West Texas high school graduation party at 1am Saturday. A shooting at a strip mall in Phoenix left a 14-year-old girl dead and eight others injured. 🚨 GOP lawmaker calls it quits after being ‘annihilated’ for backing gun control (NBC News) Rep. Chris Jacobs of New York publicly bucked his party last week when he said he would back an assault weapons ban bill if it came to the House floor for a vote. Then on Friday he said that new stance had cost him his political career in the Republican Party and that he's ending his re-election bid. “If you stray from a party position, you are annihilated,” Jacobs said. “For the Republicans, it became pretty apparent to me over the last week that that issue is gun control — any gun control.” Jacobs was endorsed by the NRA just two years ago. He said he'd changed his position on gun control in the wake of mass shootings in Buffalo, New York and Uvalde, Texas. 📈 Payrolls rose 390,000 in May, better than expected as companies keep hiring (CNBC) The U.S. economy added 390,000 jobs in May, better than expected despite fears of an economic slowdown and with a roaring pace of inflation. At the same time, the unemployment rate held at 3.6%, just above the lowest level since December 1969. Despite the job gains, the BLS household survey showed that the labor market has yet to recover all the positions lost during the pandemic. Total employment remains 440,000 below the pre-Covid level. 🏆 Rafael Nadal wins historic 14th French Open title in final versus Casper Ruud (ESPN) Experience vs. youth. Why did we ever doubt him? Nadal has now won both Slams this season, having triumphed at the Australian Open back in January, all at the age of 36 years old and with an injured left foot. Nadal extended his incredible tally of victories in Paris to 14 -- and set another record with his 22nd Grand Slam title as well. ☀️ GOOD MOOD MONDAY A great reminder to put down your phone every once in awhile. The only guy in this photo watching Tiger Woods at the US PGA Championship with his own eyes-- and not through his cell phone-- just got a Michelob Ultra beer sponsorship. Cheers to that! ⭐️ Premium Content: Enjoying Mo News? Want access to newsmaker interviews, extra editions every week, additional content in an exclusive Facebook group and an opportunity to ask me questions directly? Sign Up for our premium newsletter subscription. It will help us grow the newsletter and continue to expand to multiple platforms. Special Deal: 15% off to become an annual member. 📰 Miss a day? Check out past newsletters here 📧 Any questions or feedback about this newsletter? Email Us 📱 Follow us on Instagram, Facebook, Twitter, Youtube and TikTok

  • That tropical disturbance is now Tropical Storm Alex, the first named storm of the Atlantic hurricane season. It's currently en route to Bermuda. (Weather Channel)

The U.S. continues to grapple with mass shootings as at least seven have occurred over the weekend, resulting in the deaths of 11 people and injuries to 54 others. Some of the shootings include--

  • An outdoor high school graduation party in Summerton, South Carolina, ended in bloodshed after two cars pulled up to a house and before shots were fired.

  • A shooting near a bar in Chattanooga, Tennessee, left 14 people struck while three others were hit by cars.

  • A bustling street in Philadelphia saw multiple shooters open fire on Saturday night, killing three people and injuring at least 11 others.

  • Five teenagers were shot and hospitalized after gunfire broke out at a West Texas high school graduation party at 1am Saturday.

  • A shooting at a strip mall in Phoenix left a 14-year-old girl dead and eight others injured.

Rep. Chris Jacobs of New York publicly bucked his party last week when he said he would back an assault weapons ban bill if it came to the House floor for a vote. Then on Friday he said that new stance had cost him his political career in the Republican Party and that he's ending his re-election bid.

  • “If you stray from a party position, you are annihilated,” Jacobs said. “For the Republicans, it became pretty apparent to me over the last week that that issue is gun control — any gun control.”

  • Jacobs was endorsed by the NRA just two years ago. He said he'd changed his position on gun control in the wake of mass shootings in Buffalo, New York and Uvalde, Texas.

The U.S. economy added 390,000 jobs in May, better than expected despite fears of an economic slowdown and with a roaring pace of inflation. At the same time, the unemployment rate held at 3.6%, just above the lowest level since December 1969.

  • Despite the job gains, the BLS household survey showed that the labor market has yet to recover all the positions lost during the pandemic. Total employment remains 440,000 below the pre-Covid level.

Experience vs. youth. Why did we ever doubt him? Nadal has now won both Slams this season, having triumphed at the Australian Open back in January, all at the age of 36 years old and with an injured left foot. Nadal extended his incredible tally of victories in Paris to 14 -- and set another record with his 22nd Grand Slam title as well.

☀️ GOOD MOOD MONDAY

A great reminder to put down your phone every once in awhile. The only guy in this photo watching Tiger Woods at the US PGA Championship with his own eyes-- and not through his cell phone-- just got a Michelob Ultra beer sponsorship. Cheers to that!

⭐️ Premium Content: Enjoying Mo News? Want access to newsmaker interviews, extra editions every week, additional content in an exclusive Facebook group and an opportunity to ask me questions directly? Sign Up for our premium newsletter subscription. It will help us grow the newsletter and continue to expand to multiple platforms. Special Deal: 15% off to become an annual member.

📧 Any questions or feedback about this newsletter? Email Us