"Li," from NPR News in Washington, "I'm Lakshmi," saying.
The Trump administration is working to calm financial market pressures by buying back its own debt.
“Today, Treasury Secretary Scott Bessant said the administration could be spending double”
at least $4 billion to do it.
He spoke to White House reporters about the $40 trillion in U.S. government debt and instability in the bond market. Bloomberg reporter Stacy Vedic Smith explains, "What it means for bond yields to go up or down?" Bonds are like a little loan that we give the government.
So if you buy a government bond, you are loaning the government money. And just like a loan, the government has to pay you interest on that bond to pay you back plus little interest, and that interest is called the yield. So when yields go up, that is like an interest rate on a loan going up. So it gets more expensive for the government to borrow money.
That means that the government is going deeper and deeper into debt every time it borrows money. It's harder to pay it back. That's Stacy Vedic Smith.
“Today, the 10-year Treasury Bonyl increased to 4.7%, the 30-year yield hit 5.27%.”
As the midterm elections draw near, another top White House official is leaving. This time, it's legislative director James Brade, his NPR's Tamar Keith. President Trump announced the departure in a post-on-truth social praising Brade for the
critical role he played in the passage of the One Big Beautiful Bill Act, and helping
to defeat several war powers resolutions. Vice President JD Vance chimed in as well, saying Brade had one of the toughest jobs in the administration and delivered for the president at every turn. Brade will leave in September as the White House begins to prepare for a post-midterm reality. If Republicans lose control of either chamber of Congress, moving any of the president's
remaining agenda items will get exponentially harder. Tamar Keith and PR News The White House, a new UN-affiliated report title exposed at all sides of crisis beyond shelter, finds nine out of ten families are now living in catastrophic conditions. More from NPR's on the spot, Boba.
“The UN report finds that nearly 94% of Gaza's population is living in critical or catastrophic”
shelter conditions. More than half of the population have been living in war now tensed for over three years now.
Structures never designed to become a long-term homes.
Families struggle to sleep, cook, maintain hygiene, or safely store food and water. Inside these tents, 91% have no way to cool down in the summer heat. And House holds average just three hours of artificial light a day. Local stocks of tents, blankets and mattresses have nearly run out. In the past months, only one in 10 families received shelter aid, leaving million exposed
as another winter approaches, and a small boat and pure news Gaza. From Washington, this is NPR News. A woman has been charged with plotting to attack the New York State Capitol building in Albany. Federal and state officials are expected to make formal announcement this hour that they've charged Jessica Boy with attempting to provide material support to a designated foreign terrorist
organization. The legal complaint filed today states that Boeys supported the Islamic State, wanted help carrying out an attack, and talked about it with a confidential FBI source who posed as an ISIS facilitator. U.S. military says the Asia-based USS George Washington aircraft carrier is in the Middle
East to relieve the USS Abraham Lincoln. The Lincoln has been deployed in the region for more than 250 days and has been the subject of inquiry following reports of mental health problems among members of the crew. Researchers in Oregon are offering a largely favorable assessment of the state's legalized psychedelic mushroom program, and PRs will stone reports most people who took the active
ingredient, and what are commonly known as magic mushrooms believe it help them. The study is significant because it looks at the real-world implications of regulated psilocybin nearly three years since Oregon launched its program. The researchers followed about 350 people who took the drug for reasons like mental health and self-improvement, more than half-ranked it among the most meaningful experiences of their
life. Only a very small number had what were known as serious adverse reactions, and none of those were related to physical health, will stone, and PR news. The midterms are coming and that means the news cycle which is already intense is about to get more intense this fall.
So the summer is a perfect time to make sure your news diet is calibrated. I'm Layla Faldon on Up First, we unpack the three biggest stories every morning so you can stay informed and get on with your day in less than 15 minutes.
