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Thursday, March 17, 2022

Rock-bottom interest rates are over

The Fed raises its key short-term interest rate, Zelenskyy will address German lawmakers and more news to start your Thursday. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
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Daily Briefing
 
Thursday, March 17
Condominium units are offered for sale in the Dorchester neighborhood, Wednesday, Aug. 18, 2021, in Boston.  Americans who for years have enjoyed the benefits of historically low interest rates will have to adapt to a very different environment as the Federal Reserve embarks on what's expected to be a prolonged period of rate hikes to fight inflation.
Rock-bottom interest rates are over
The Fed raises its key short-term interest rate, Zelenskyy will address German lawmakers and more news to start your Thursday.

Good morning, Daily Briefing readers. The Fed raised its key short-term interest rate for the first time in more than three years, a move that's expected to push up rates for credit cards, mortgages and other loans. A day after pleading to Congress for help against Russia, Ukrainian President Volodymyr Zelenskyy will address Germany's parliament. The final full moon of winter will rise in the night sky – the full worm moon. And, Happy St. Patrick's Day to all those celebrating!

It's Jane, with Thursday's news.

💰 Moving to curtail a historic surge in consumer prices, the Fed raised its key short-term interest rate – by a quarter-percentage point – and forecast six more hikes this year.

🌏 A strong 7.4 magnitude earthquake struck off the coast near Fukushima, Japan – the site of a nuclear disaster in 2011 – late Wednesday, killing four people, Japanese officials said.

⚖️ A man accused of carrying out a string of shootings of men experiencing homelessness in Washington and New York will remain in custody after making his first court appearance.

🚨 Nine people, including six students and their golf coach, were killed when a van carrying members of a New Mexico university's golf teams collided with a pickup truck Tuesday night, officials confirmed.

💨 Large plumes of thick smoke soared into the air in Plainfield, Indiana, on Wednesday after a 1.2 million-square-foot Walmart distribution center caught fire. One firefighter suffered minor injuries.

A massive fire burns inside a Walmart distribution center in Plainfield, Ind., near the Indianapolis International Airport Wednesday, March 16, 2022.
A massive fire burns inside a Walmart distribution center in Plainfield, Ind., near the Indianapolis International Airport Wednesday, March 16, 2022.
Mykal McEldowney, AP

🚌 Pandemic classroom lessons learned. Many thought we'd be done with pandemic-related remote learning by fall 2021. We're not. When will schools return to "normal" operations? Many educators, parents and students think the answer should be never

⚖️ Jussie Smollett was released from jail after an appeals court agreed that he should be freed pending the appeal of his conviction for lying to police about a racist and homophobic attack.

🛳 A body has been recovered after a man jumped overboard from the Carnival Horizon cruise ship, the company told USA TODAY.

⚾️ In a stunning move that came two days after his old team cut him loose, Freddie Freeman agreed to a six-year, $162 million deal with the Los Angeles Dodgers.

Freddie Freeman during the Braves' World Series celebration in 2021.
Freddie Freeman during the Braves' World Series celebration in 2021.
Brett Davis, USA TODAY Sports

☘️ Don't get pinched this St. Patrick's Day. You can celebrate the holiday by saving some green and taking advantage of these specials.

🎧 On today's 5 Things podcast, hear Russian President Vladimir Putin's latest threats to his opponents in Russia. You can listen to the podcast every day on Apple PodcastsSpotify, or on your smart speaker.

Here's what's happening today:

Zelenskyy to address German parliament following impassioned plea to Congress

Ukrainian President Volodymyr Zelenskyy is scheduled to address Germany's parliament on Thursday, a day after he gave an impassioned address to Congress, pleading for more help to defend his country amid Russia's invasion . Zelenskyy spoke over a video link, invoking the most horrific moments in American history to argue the case for imposition of a "no-fly" zone, or at least more military hardware, stiffer sanctions against Russia and additional steps to prevail against what he described as an assault on the world's democratic values. Hours later, Biden announced an additional $800 million in military aid for Ukraine, which now totals $1 billion just this week, to help "fend off Russia's assault." Meanwhile, Russian airstrikes ripped apart a theater in Mariupol that served as a makeshift shelter for hundreds of people, Ukrainian officials said, as Russian President Vladimir Putin said the "special operation" in Ukraine was going according to plan.

📩 Ukraine-Russia crisis: The latest news straight to your inbox. Sign up for the newsletter here.

For the first time in public, President Joe Biden on Wednesday called Russian President Vladimir Putin "a war criminal."
For the first time in public, President Joe Biden on Wednesday called Russian President Vladimir Putin "a war criminal."
USA TODAY

Trio of men's NCAA Tournament favorites take the floor

Three of the four No. 1 seeds in the men's NCAA Tournament will be in action Thursday, with Gonzaga, Baylor and Kansas set to play. Baylor, the No. 1 seed in the East Region, will begin its tournament run against Norfolk State in Fort Worth, Texas – less than two hours away from where Baylor plays its home games. That game will tip off at 2 p.m. ET on TBS. And in the West Region, No. 1 overall seed Gonzaga will face off against Georgia State (TNT, 4:15 p.m. ET), who won the Sun Belt Conference tournament last week. Kansas will close out Thursday's slate of games, when it faces Texas Southern (truTV, 9:57 p.m. ET), who triumphed in its play-in game on Tuesday. 

Just for subscribers:

🔵 Full of stoicism and unspoken fear, Ukrainian men steel for battle as they say goodbye to their families.

🔴 "Is this too much to ask?" An impassioned Zelenskyy demands more from Biden.

💹 What happens to the stock market when the Fed raises interest rates? In theory, stocks should perform worse

 Daylight saving time: A century of clock changing could soon run out. How did we get here?

🌊 "Dissolving on the inside": Florida's starving manatees reflect troubles in coastal ecosystems around the globe.

NASA's mega moon rocket ready to roll in dress rehearsal

NASA's Artemis program is set to take a first step toward returning humans to the moon. On Thursday night, the agency's Space Launch System (SLS) mega moon rocket and Orion crew capsule, mounted on top of a Crawler-transporter 2 (CT-2), will roll out to their launchpad at Kennedy Space Center for the very first time. Transporting the 322-foot, 18 million pound SLS rocket the four miles to the launchpad is expected to take about 11 hours. Once SLS is secured at the launchpad, the rocket will spend about two weeks undergoing various tests. The rollout is part of a "dress rehearsal" of NASA's uncrewed Artemis I mission, which will launch the Orion capsule around the moon later this summer.

U.S. Census Bureau releases delayed population and housing report

The U.S. Census Bureau released the 2016-2020 American Community Survey on Thursday after COVID-19 caused the first-ever delay in the release of the report. The survey provides key population and housing data for communities across the country – informing critical local funding initiatives. The bureau randomly selects over 3.5 million households annually to participate in the survey – but the pandemic limited the agency's ability to gather information from certain groups. People who were high-income, educated and were typically homeowners were more likely to respond, causing potential bias in the data, ACS Branch Chief Gretchen Gooding explained on a March 10 pre-release webinar. For this reason, the bureau adjusted its methods and delayed the December 2021 deadline to review the survey's quality.

ICYMI: Some of our top stories yesterday

Permanent daylight saving time? America tried it before ... and it didn't go well.

🔵 Biden calls Putin a "war criminal" after signing off on $800 million in new military aid: March 16 recap.

☕️ Starbucks is going away from paper cups. Here's how your coffee order could change.

🏀 Oregon's Sedona Prince, who shot infamous video at last year's women's NCAA tournament, speaks out.

There's a full worm moon rising tonight – the final full moon of winter

Winter is finally coming to an end — the season's final full moon will rise Thursday evening. The worm moon will reach peak illumination at 3:20 a.m. EDT on Friday, but you can catch it in nearly-full form Thursday and Friday evening thanks to "moon illusion," when the moon looks larger at the horizon than it does high in the sky.  Native Americans in eastern and central U.S. and other groups have historically named the months and their moons based on nature's cues at that season. This one's called the worm moon because in cold climates, the ground thaws and earthworms appear. In Christianity, when this moon appears before the spring equinox, as it does this year, it's also called the Lenten moon. This year's spring equinox occurs at 11:33 a.m. EDT on Sunday.

📸 NHL photo of the day: The best of the 2021-22 season 📸 

March 11: Washington Capitals forward Lars Eller scores the game-winning goal in overtime against the Vancouver Canucks at Rogers Arena.
March 11: Washington Capitals forward Lars Eller scores the game-winning goal in overtime against the Vancouver Canucks at Rogers Arena.
Bob Frid, USA TODAY Sports

New Jersey Devils goaltender Jon Gillies makes a gripping save against the Calgary Flames. Various scuffles break out on the ice. Washington Capitals forward Lars Eller clinches the game against the Vancouver Canucks. The National Hockey League is in full swing with plenty of action.

Check out the gallery of the best photos taken this season. 

 
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