1/ The World Bank warned that the global economy may be headed for several years of above-average inflation and below-average growth. The bank cut its annual global growth forecast to 2.9% from January’s 4.1%, saying “subdued growth will likely persist throughout the decade because of weak investment in most of the world.” The world economy expanded 5.7% in 2021 following the Covid-19 pandemic, which triggered the deepest global recession since World War II. “The world economy is again in danger,” President David Malpass said in the Global Economic Prospects report. “It is facing high inflation and slow growth at the same time. Even if a global recession is averted, the pain of stagflation could persist for several years – unless major supply increases are set in motion.” Treasury Secretary Janet Yellen, meanwhile, conceded that inflation is at “unacceptable levels” and that she expects “inflation to remain high.” She pointed to “disruptions caused by the pandemic’s effect on supply chains, and the effects of supply side disturbances to oil and food markets resulting from Russia’s war in Ukraine” as the primary reasons for high prices. (Washington Post / Bloomberg / Associated Press / CNBC / Wall Street Journal / New York Times)
2/ Atmospheric CO2 topped 420 parts per million in May – 50% higher than the levels at the start of the Industrial Revolution and the highest concentration ever recorded in human history. Carbon dioxide levels are now comparable to the Pliocene Climatic Optimum – which was more than 4 million years ago. Two U.N. food agencies, meanwhile, warned that “climate shocks,” like drought and flooding, have exacerbated already steadily rising food and energy prices worldwide. (New Atlas / NOAA / Associated Press)
3/ The Department of Homeland Security issued a terrorism bulletin warning of heightened domestic extremists threats as the U.S. enters the midterm elections. In the latest National Terrorism Advisory System bulletin, DHS said that the U.S. was already in a “heightened threat environment” but a Supreme Court decision on abortion, an increase of migrants at the U.S.-Mexico border, and the midterm elections could worsen the situation and trigger extremist violence over the next six months. The bulletin, which is scheduled to expire Nov. 30, warned of “violence by domestic violent extremists directed at democratic institutions, political candidates, party offices, election events, and election workers” will likely increase through the fall. (Associated Press / CNN)
4/ The Trump campaign directed a group of 16 Georgia Republicans named as “alternate” electors to operate with “complete secrecy and discretion” as Trump attempted to overturn his defeat by Biden. Robert Sinners, the Trump campaign’s election operations director for Georgia, sent a Dec. 13, 2020 email instructing the electors to tell security guards at the building that they had an appointment with state senators. “Please, at no point should you mention anything to do with Presidential Electors or speak to the media,” Sinners wrote, adding: “Your duties are imperative to ensure the end result — a win in Georgia for President Trump — but will be hampered unless we have complete secrecy and discretion.” (Washington Post / CNN)
5/ The Secret Service said Trump’s call for supporters “to walk down to the Capitol” on Jan. 6, 2021, prompted agents to consider options to secure a motorcade. Ultimately, however, agents found that transporting Trump to the Capitol “would not be feasible.” The Jan. 6 committee has interviewed Robert Engel, the top Secret Service agent on Trump’s protective detail during the Capitol attack. (Washington Post / CNN / Politico)
Become a member.
Help keep WTF Just Happened Today going with a small contribution.