The Evening: U.S. Expands Russia Sanctions, Fed Projects One Cut, Tell Me Something Good, and More

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Good Evening,

It's Wednesday, June 12th.

U.S. Expands Sanctions on Russia

The Biden administration on Wednesday announced a series of new financial sanctions aimed at interrupting the fast-growing technological links between China and Russia that American officials believe are a broad effort to rebuild and modernize Russia’s military during its war with Ukraine, as the NYT reports.

Fed Projects Just One Cut This Year Despite Mild Inflation Report

Federal Reserve officials penciled in just one interest-rate cut for this year, indicating most are in no hurry to lower rates, even after a widely watched report Wednesday showed inflation improved last month, as the WSJ reports.

Hezbollah Lobs Rockets at Irael

Hezbollah bombarded northern Israel with rockets and artillery shells Wednesday, threatening to further embattle Israel on its northern front as the war in Gaza drags on, with U.S. Secretary of State Antony Blinken accusing Hamas of making unworkable demands during cease-fire negotiations, as The Washington Post reports.

Executive Education

The Breakthrough Leadership Program helps rising leaders navigate global issues, fine-tuning key skills for success. Designed for mid-career professionals from marginalized backgrounds, it blends virtual and in-person sessions to provide tools and knowledge for career advancement. Applications close June 28.

Audio Briefs

CSIS experts give short, spoken-word summaries on the biggest takeaways from their latest reports, white papers, and commentaries—in their own words.

Listen here: "Is NATO Ready for War?" with CSIS's Sean Monaghan.

In That Number

$100 million

The United States widened its sanctions against Russia Wednesday, targeting more than $100 million in trade between Russia and suppliers for its war.
Source: AP

Critical Quote

“The economic outlook is uncertain. We remain highly attentive to inflation risks.”

—Jerome Powell, Chair of the Federal Reserve of the United States

iDeas Lab

The United States Environmental Protection Agency (EPA) released a final rule for regulating greenhouse gas emissions from fossil fuel-fired generating units in the power sector. Key changes between the EPA’s originally proposed rule and the final rule were the exclusion of rules for existing gas-fired power plants and the use of hydrogen as a low-carbon fuel. Read the full analysis here.

The Andreas C. Dracopoulos iDeas Lab at CSIS enhances our research with the latest in cutting-edge web technologies, design, and multimedia.

Optics

(Photo credit: Ibraheem Al-Omari/Pool/AFP/Getty Images.) U.S. Secretary of State Antony Blinken meets with Qatar's Emir Sheikh Tamim bin Hamad al-Thani at the Lusail Palace in Lusail, Qatar, on June 12, 2024.

This Town Tomorrow

At 9:30 a.m., the CSIS Korea Chair hosts Gordon Flake for a discussion on Australia's relations with the two Koreas and the role Australia and South Korea could play in the G7.

Later, at 2:45 p.m., CSIS's Global Health Policy Center holds a conversation on domestic and global health security challenges including institutional change, the R&D agenda, and more.

Earlier, at 9:00 a.m., AEI explores strategies to help increase the speed and scale in adopting resilient, reliable, distributed, renewable, and U.S.-controlled power.

Video

Yesterday, the CSIS Energy Security and Climate Change Program welcomed Dan Brouillette, President and CEO of the Edison Electric Institute, for a conversation focused on understanding the scale of electric demand load growth and assessing its implications for key strategic industries and electric utilities. Watch the full video here.

Podcasts

This week on Babel, Jon Alterman speaks with Professor Jonathan Rynhold, the head of the department of political studies at Bar Ilan University and a senior researcher at the Begin-Sadat Center for Strategic Studies, to discuss the evolution of Israeli public opinion since October 7th, divisions within Israeli politics, and Israeli attitudes towards President Biden.

Listen on Spotify & Apple Podcasts.

Smiles

This is a big smile. The folks at NPR’s Tiny Desk Concerts have knocked it out of the park again with a new release—the great Chaka Khan. This sounds fantastic.

I invite you to email me at [email protected] and follow me on Twitter @handrewschwartz

The Evening is my daily guide to key insights CSIS brings to the events of the day. It is composed by Lauren Adler, Ava Rose, and the External Relations team.