June 16, 2022

*) Biden announces $1 billion in new military aid for Ukraine US President Joe Biden has announced a new package of arms and ammunition for Kiev after speaking with Ukrainian President Volodymyr Zelenskyy over the phone. The package of $1 billion includes howitzers, ammunition, anti-ship missile systems and additional rockets for new artillery systems that Ukraine will soon put in the field. Biden said "the US will stand by Ukraine as it defends its democracy" against a Russian onslaught. Zelenskyy said he was "grateful" for the new American arms package. *) Xi assures Putin of China's support for Russian 'sovereignty, security' Chinese President Xi Jinping has assured his Russian counterpart Vladimir Putin of Beijing's support for Moscow on "sovereignty and security" during a phone call. Xi praised the "good momentum of development" in bilateral ties since the start of the year "in the face of global turmoil and changes", state broadcaster CCTV reported. It was the second reported call between the two leaders since Putin launched his offensive against Ukraine on February 24th. *) Police: Amazon fisherman confesses to killing missing pair A fisherman has confessed to killing a British journalist and an Indigenous expert in Brazil's remote Amazon, taking police to a site where human remains were recovered. The development closes out 10 days of suspense as teams searched for the missing pair. Authorities say that more arrests would be made soon in the case. Dom Phillips and his guide Bruno Pereira went missing June 5th in a remote part of the Amazon that is rife with crimes including illegal mining as well as drug trafficking. *) US Fed announces biggest interest rate hike since 1994 The US Federal Reserve has announced the most aggressive interest rate increase in nearly 30 years in a battle to drive down surging inflation. After the 0.75-percentage-point hike, Fed Chair Jerome Powell said it was "essential" to lower inflation and that the goal was to achieve that without derailing the economy. Th