In a nutshell:
- This hurricane season could rival 2005, the year of Katrina.
- Gas inventories are low, and prices might hit $6 per gallon by summer's end.
- Biden invoked the Defense Production Act to tackle the baby formula shortage.
- The FDA has okayed Pfizer’s booster shots for kids aged 5-11. More free tests are coming from the CDC.
- Switzerland is edging closer to NATO. Finland and Sweden have formally applied.
**Climate**
The conditions in the Gulf of Mexico remind me of 2005, the year Katrina struck. Gulf waters are hotter than usual this time of year, and the Loop Current is swirling unusually far north. When this happens early in the season, it spells trouble for folks along the Gulf Coast, from Texas to Florida. The linked article dives deep into why this matters, how hurricanes form, and how climate change and La Niña are influencing this season.
[Image: The Loop Current was near Tampa, Florida, in mid-May 2022.]
[Image: Similar Loop Current patterns were seen in May 2005.]
Check out our guide on preparing for and surviving hurricanes. For a step-by-step approach, refer to our Hurricane Preparedness Week tips.
Governor Gavin Newsom just rolled out California’s Extreme Heat Action Plan, investing $37.6 billion to combat climate change and rising temperatures.
**Economy**
The Fed’s strategy to tame inflation seems to be working—Walmart and Target reported weaker earnings, with consumers spending less on goods and more on experiences and travel. Despite this, Target’s earnings caused a major sell-off on Wall Street, leading to the Dow’s largest one-day drop since 2020.
Travel trends suggest revenge tourism this summer could push U.S. gas prices to $6 per gallon. However, East Coast gasoline inventories are at their lowest since 2011, and by August, stocks might dip below 160 million barrels, the lowest level since the 1950s. A major hurricane hitting Gulf Coast refineries could exacerbate the situation. The government is set to release its hurricane forecast next week.
Rents in the U.S. hit another record high and are expected to climb further. A recent study found remote work fueled high house prices, though there are hints the housing market is cooling.
In the UK, inflation stands at 9%, the highest in decades, raising fears of a recession. Energy costs are the main culprit. One in four Britons have skipped meals, and two-thirds avoided heating when needed. Prices are expected to rise further, and the Bank of England is likely to hike interest rates to 1%.
**Supply Chain**
Biden invoked the Defense Production Act to boost formula production and authorized military planes to transport Nestlé formula from Switzerland. The Access to Baby Formula Act lets WIC recipients buy formula from any brand instead of being restricted to one potentially unavailable brand during emergencies.
Be wary of baby formula scams. Consumers are warned against paying high prices for non-delivered products.
To avoid scams, try these tips:
- Search online for reviews or complaints.
- Avoid payment via gift cards or cryptocurrency; credit cards offer better protection.
- Know your rights: sellers must ship within stated times or provide refunds.
- Reach out to local resources like pediatricians or WIC offices.
Biden urged farmers to plant a second crop this year to boost food supplies and stabilize global prices. However, double-cropping carries risks like depleting soil nutrients, especially with a fertilizer shortage. Biden announced $500 million to boost fertilizer production.
**Covid**
The FDA granted emergency authorization for Pfizer’s booster shot for kids aged 5-11, recommended five to nine months after the last dose. During the Omicron wave, unvaccinated kids were hospitalized twice as often as vaccinated ones. Hospitalizations among kids rose 8.4% in early May.
Households can now order a third round of free tests from the CDC.
The FDA restricted the emergency use of the Johnson & Johnson vaccine following reports of rare clotting incidents. It’s now only available to those unable to receive other vaccines.
The U.S. has passed 1 million COVID-19 deaths, and cases continue to rise. Deciding whether to maintain a public health emergency is crucial for funding and pandemic response capabilities.
Opinion: A new wave? Stay calm but prepared.
**Ukraine**
Even Switzerland is considering NATO membership, signaling how badly Putin misjudged. Finland and Sweden have applied, despite Turkey’s objections. The process could be fast-tracked to protect them from Russian threats.
The U.S. embassy reopened in Kyiv, and the Senate confirmed the first U.S. ambassador to Ukraine in three years.
For updates on the conflict, check the latest map and live coverage.
**Miscellaneous**
Ever wondered about emergency management jargon? Here’s a handy glossary.
The ATF reported a tripling of firearm production since 2000, with handguns outselling rifles. Police recovered 19,344 ghost guns in 2021, up tenfold since 2016. There are over 400 million guns in the U.S.
China is building a 180-meter-tall 3D-printed dam in Tibet, using AI designs and fully automated construction. While dams pose challenges, this showcases large-scale 3D printing.
A MÄori community in New Zealand uses a board game to manage flood risks.
There’s a new Paramount+ doc about industry attempts to conceal evidence of global warming. Stay tuned for my thoughts once I watch it.
Fun fact: Mangalitza pigs can fend off bears!
5.Umbrella
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