Today’s Big Story

Inflation Comes in Hot

The Fed's economic fears start to be realized with June CPI increase

Inflation heated back up in June, rising to its highest level in four months, as price increases—including those from tariffs—packed a bigger punch. Experts say this will keep the Federal Reserve on track to hold interest rates steady when policymakers next meet this month.

The Consumer Price Index rose 2.7% from a year earlier, the swiftest pace since February, data released by the Bureau of Labor Statistics showed on Tuesday. That is slightly higher than expected and up from an annual pace of 2.4% in May. “Core” inflation, which strips out volatile food and energy prices and is seen as a reliable gauge for underlying price pressures, also shifted higher. Those prices were up 2.9% from the same time last year.

According to CNN, Tuesday’s data came right in line with economists’ forecasts for the headline CPI to rise from the 0.1% monthly and 2.4% annual increases reported in May. They expected higher gas prices would help lift the overall index (which was the case) and anticipated that a broader suite of goods would show the effect of businesses passing along higher import costs to consumers (which was also the case).

The Wall Street Journal says that this is the “Trump effect”, showing up in Americans’ daily lives, with tariffs and immigration policies starting to affect the economy, with price increases on key imports and a slowing in jobs growth. On the bright side, the “effect isn’t yet enough to derail the economy, which by many measures has weathered Trump’s trade wars much better than many on Wall Street and in Washington feared.”

The tariff price shock could ultimately prove a temporary, one-time adjustment. But with the final tariff levels still being considered by President Donald Trump, and steeper levies threatened as of August 1, the inflation outlook remains unsettled. Economists such Navy Federal Credit Union’s Heather Long cautioned that the tariff-related impacts remain in the early days. “This feels like inning No. 1, the early stages of what will likely be more and more items showing that price increase.”

Trump Backpedals on the Epstein Mess

The president, who once fueled conspiracy theories about Jeffrey Epstein, now bears their brunt

Donald Trump very rarely loses control of his own story. But the Jeffrey Epstein saga is now beyond his powers to quell. The president has implored people to stop talking about Epstein (and Trump’s connection to him). But the internet isn’t listening and now he’s at odds with the loudest and most conspiratorial faction of his MAGA movement.

He warned on Truth Social over the weekend, “Let’s not waste Time and Energy on Epstein, somebody that nobody cares about.” But that only further invigorated discussion. Data from Google showed that searches for Epstein spiked after Trump’s post. And even Republican allies of the president are not letting go of the matter, calling for more transparency. Tensions boiling between Attorney General Pam Bondi, FBI Director Kash Patel and Patel’s deputy, Dan Bongino, are rekindling memories of the chaos and dysfunction that scarred Trump’s first term but have been less obvious in his more prolific second presidency.

Succumbing to the pressure, Trump on Tuesday said Attorney General Pam Bondi should release “whatever she thinks is credible” on the Epstein case. Bondi was lambasted after she said last week there was no evidence that Epstein kept a “client list” or was blackmailing powerful figures. Later on Tuesday, the president questioned the enduring fascination with the Epstein case, calling it “sordid but boring,” adding that “only really bad people, including the fake news, want to keep something like this going.” When ABC News asked if his name appeared in the files, Trump said no, before making baseless claims the files were created by some of his political foes.

Medals for Next Year’s Olympics Unveiled

The upcoming 2026 Olympic Winter Games and Paralympic Winter Games will be held in Milan and Cortina

The official medals for the upcoming 2026 Games were revealed in Venice on Tuesday—206 days before the competition begins.

Created by the Italian State Mint and Polygraphic Institute (IPZS), the medals embody a metaphor that celebrates both the athletes’ journeys and the collective spirit that supports them. The design concept of the medals reflects the unity of the two host cities, Milano and Cortina, fused through the Olympic and Paralympic ideals. Each medal is divided into two distinct halves with differing textures, symbolizing the connection between the athlete and the support system that contributes to their success.

They’re streamlined to say the least. But I have to agree with some critics, who find the design to be a little “no frills” and downright “plain”. Historically, the winter games have had more distinct medals, often with designs that call to mind the host country. However, the medals will be sustainably created. They’ll use recycled metal recovered from production waste, and will be created in induction furnaces powered by renewable energy, organizers explained.

Wrap Battle

The latest fast food fad is a retro snack. But which is best?

Who needs Love Island and the Real Housewives when you’ve got fast food giants throwing shade at one another? I’m convinced these chains love the drama. The latest messy move? An all-out wrap battle. Yes, it seems like everyone’s experimenting with the old school tortilla wraps.

Maybe you heard, Popeye’s dropped its Chicken Wraps about a month before McDonald’s brought back its long beloved Snack Wraps. Then, in case you thought it was a coincidence, Popeyes doubled down last week by giving its wraps away for free on the same day Mickey D’s wraps hit menus. And they’re not alone: Wendy’s, Sonic and Burger King now offer some kind of crispy chicken wrap, many with a spicy and regular versions (with shredded lettuce, cheese and some sauce).

But who’s doing it best? No surprise, most reviewers praised Popeye’s crispy chicken (which is ultimately the star of any wrap). Buzzfeed was pleasantly surprised with Burger King and Wendy’s versions, but like others thought McDonald’s iteration was a little underwhelming. The “Ranch Snack Wrap” got nostalgia points, but as a whole subreddit pointed out, they’re “not as good as they used to be.” Others are upset over the price, citing that it's anywhere between $6 and $8 for two wraps, depending on the state. "$6 for two wraps is criminal," a Reddit user posted.

Worth a Listen

‘No Sign of Weakness’ by Burna Boy

Do your own thing.