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Thursday, June 11, 2026

Lagarde: Inflation to stay well above target into 2027

 European Central Bank (ECB) President Christine Lagarde said on Thursday that she expects inflation to stay "well above target" into the first half of next year, driven by rising energy prices amid the war in the Middle East.

Lagarde stated that the Iran crisis is also set to have an impact on food, goods, and services prices, but stressed the ECB expects inflation to return to target in the second half of 2027, supported by falling energy prices and a slower increase in other prices.

The ECB head warned that the Middle East war remains a "major source of uncertainty" and pointed out that the longer energy prices stay high, the more likely it is to drive inflation higher.

https://breakingthenews.net/Article/Lagarde:-Inflation-to-stay-well-above-target-into-2027/66488433

'Lagarde: Rate hike justified in all scenarios'

 European Central Bank (ECB) President Christine Lagarde defended the decision to hike interest rates by 25 basis points on Thursday.

Lagarde outlined that the bank discussed three scenarios in total: adverse, severe, and milder; the third one being one that should not be neglected but is still not likely. "The [monetary policy] decision remains robust across three scenarios," she underscored, going on to warn that the energy shock is enduring "longer than what was expected" and that its effect is "broadening" throughout the economy.

Crucially, Lagarde stressed that while there is uncertainty on direct vs. indirect effect in service price increases, the ECB has not yet seen impact on wages.

https://breakingthenews.net/Article/Lagarde:-Rate-hike-justified-in-all-scenarios/66488706

'Erdogan: Israel following in Hitler's footsteps'

 Turkish President Recep Tayyip Erdogan argued on Thursday that the Israeli government is following in the footsteps of the Nazi leader Adolf Hitler.

While speaking at the Turkish Red Crescent Awards Ceremony in Ankara, Erdogan noted that "in Gaza, where the Zionist genocide network led by [Israeli Prime Minister Benjamin] Netanyahu continues its attacks, the Red Crescent has delivered more than 26 thousand tons of humanitarian aid to the region." He warned that "those who follow in Hitler's footsteps should not forget that if they continue like this, their fate will be like that of other tyrants in history."

Erdogan claimed that "while Turkey extends a helping hand to the oppressed, on the other hand, it will continue to do everything in its power to ensure that the massacre network is held accountable before the law and history."

https://breakingthenews.net/Article/Erdogan:-Israel-following-in-Hitler's-footsteps/66488907

Wall Street opens higher ahead of SpaceX IPO

 Major stock markets on Wall Street traded higher at the opening bell on Thursday as investors also anticipated SpaceX's IPO on Friday.

In other news, the latest unemployment numbers and producer prices data were released earlier today. Meanwhile, the crisis in the Middle East worsened following the new round of hostilities between the United States and Iran, and US President Donald Trump indicated a possible invasion of Kharg Island in the Persian Gulf of seizure of Iranian oil and gas.

The Dow Jones rose 0.5%, and the Nasdaq 100 climbed 0.82%. The S&P 500 added 0.44%. At 9:29 am ET, the euro was flat against the dollar, exchanging for 1.15313.

https://breakingthenews.net/Article/Wall-Street-opens-higher-ahead-of-SpaceX-IPO/66488749

Trump: US to take Kharg Island in not too distant future

 United States President Donald Trump said on Thursday that his country will take Iran's Kharg Island in "the not too distant future," along with other oil infrastructure sites.

"At some point in the not too distant future, we will be taking Kharg Island, and other oil infrastructure points, and assume total control of their Oil and Gas Markets, much like we have with Venezuela, which is working out brilliantly for both Venezuela and the United States of America," Trump said in a post on Truth Social.

The US president also warned that Washington will be striking Iran "VERY HARD TONIGHT." His remarks follow yesterday's attacks on the Middle Eastern country, which came as retaliation for Iran downing the US Apache helicopter and which led to Tehran launching its own attacks against the US bases in Kuwait, Bahrain, and Jordan.

https://breakingthenews.net/Article/Trump:-US-to-take-Kharg-Island-in-not-too-distant-future/66487881

Wednesday, June 10, 2026

Prior authorization bill now eligible for House fast track

 Legislation aimed at reducing delays when Medicare Advantage plans require preapproval for care could hit the House floor under fast-track rules for bills that have broad support.

The bill, sponsored by Rep. Mike Kelly, R-Pa., targets use of prior authorization in Medicare Advantage — in which insurers approve or deny services before they can be delivered.

The legislation would require insurers’ plans to adopt electronic systems that use standardized transactions, which proponents say will reduce delays caused when health care providers are forced to navigate through various payer portals or send information by fax. It would also require plans to submit a range of data to the federal government, including which services are subject to prior authorization requirements and the percentage and number of requests approved and denied.

The use of prior authorization has become widely loathed by the public and health care providers, who say it delays access to needed care. Insurers defend the practice as necessary to prevent patients from receiving unnecessary care. Its use has been scrutinized in Medicare Advantage, the private option that now covers more than half of Medicare beneficiaries.

Known as the “Improving Seniors’ Timely Access to Care Act,” the bill has 290 co-sponsors, making it eligible for the consensus calendar, which allows legislation to move outside of the traditional committee process.

A sponsor of the legislation would have to make a motion to the House clerk to place the measure on the calendar.

Bill sponsors are waiting for details on next steps before filing the motion, according to a source familiar with the situation. That could include a markup by the House Ways and Means Committee, a step that’s not strictly necessary but can be done out of deference to the committee with jurisdiction.

A Ways and Means Committee spokesperson said the panel does not comment on specific hearings or markups until they are officially noticed.

The bill reached the 290 co-sponsors threshold Monday with support from Reps. Nancy Mace, R-S.C., and George Whitesides, D-Calif. A companion measure in the Senate, sponsored by Roger Marshall, R-Kan., has 70 co-sponsors.

‘Defining moment’

Despite the bipartisan support, lawmakers, advocates and lobbyists have been frustrated with the slow pace of getting the legislation across the finish line. It was first introduced in 2019 by Rep. Suzan DelBene, D-Wash., who co-sponsors the current bill.

Kelly and DelBene, along with cosponsors Reps. Ami Bera, D-Calif., and John Joyce, R-Pa., said in a joint statement Wednesday that the bill has now reached a “defining moment,” and that passage would “make it much easier for seniors to receive the care they’re entitled to while also alleviating unnecessary burdens on physicians and hospitals.”

For several sessions of Congress, the measure has been one of the most popular in the House and Senate. It has no public opposition and, according to scores from the Congressional Budget Office, would come at no cost to the government.

The reason behind the holdup is unclear even to the bill’s sponsors and supporters, other than a Congress perennially distracted by other priorities like government funding, reconciliation bills and other fights.

The legislation is publicly supported by a coalition of Medicare Advantage insurers called the Better Medicare Alliance, as well as by insurer Humana, patient groups and provider groups.  

“There’s no good reason, there’s no weird political opposition or anybody trying to hold this back, it’s just finding the path to do it,” said Peggy Tighe, lead legislative counsel for the Regulatory Relief Coalition, a group of national physician specialty organizations formed to advocate on this issue.

After the measure reached the threshold for the consensus calendar in 2022, the Ways and Means Committee moved quickly to advance it. The House ultimately passed the legislation by voice vote. But it died in the Senate over concerns about a $16 billion cost estimate. 

Efforts to include the bill in previous year-end packages did not pan out amid competing priorities.

The Biden administration then implemented similar policies, and although some provisions haven’t yet taken effect, the CBO has acknowledged them and lowered the cost score to zero dollars in 2024.

“The seniors’ timely act should be a slam dunk,” said Scott Styles, executive director of the newly launched Alliance for Medicare, which is aimed at improving Medicare Advantage. “It’s hard to really understand why that hasn’t moved.”

Pervasive requirements

According to health policy research organization KFF, 99 percent of Medicare Advantage enrollees are subject to prior authorization for some services, mostly higher-cost ones like inpatient hospital stays.

In 2024, 53 million prior authorization requests were submitted to Medicare Advantage insurers, according to the KFF analysis. That year, 7.7 percent of requests were denied. Of the 11 percent of denials that were appealed, 81 percent were partially or fully overturned.

Advocates say the high overturn rate points to flaws in the process and note that the data required under the bill could help shed light on the problem.

The Trump administration is also proposing action on prior authorization.

The Centers for Medicare and Medicaid Services recently proposed rules that would require Medicare Advantage use electronic prior authorization for prescription drugs. It sets deadlines of seven calendar days for “standard” prior authorization requests and 72 hours for expedited ones.

The rules apply to Medicare Advantage, Medicaid, the Children’s Health Insurance Program, and individual and small group insurers on federally facilitated exchanges.

The rule is similar to the Biden administration rule finalized in 2024 that applied to nondrug services.

The Trump administration has also touted “voluntary” agreements it has reached with insurance companies to streamline the process. America’s Health Insurance Plans, a trade group for health insurers, says health plans have eliminated 11 percent of prior authorizations across a range of medical services.

But physicians say they haven’t seen those changes in practice yet.

“Physician trust in voluntary insurer pledges is deeply eroded after years of unfulfilled promises,” American Medical Association President Bobby Mukkamala said in a statement last month. 

https://rollcall.com/2026/06/10/prior-authorization-bill-now-eligible-for-house-fast-track/

As Spy Law Nears Expiration, Lawmakers Mull Short-Term Renewal

 by Nathan Worcester via The Epoch Times,

President Donald Trump’s pick for a key intelligence post has left Democrats and Republicans at odds over a spy law set to lapse on June 12.

As the clock ticks down, lawmakers are contemplating Trump’s latest proposal: another short-term extension of the authority while the president searches for a permanent nominee other than his chosen acting director of national intelligence, Bill Pulte.

Section 702 of the Foreign Intelligence Surveillance Act (FISA) allows the government to spy on foreign targets outside the United States.

It has long been controversial, in part because Americans can also be caught up in its warrantless surveillance dragnet. Section 702’s defenders stress its importance to national security, the risks of allowing it to expire, and the strength of the 2024 reforms to the program.

The provision was renewed in late April for a period of 45 days as some lawmakers pushed for reforms to the law.

Also in late April, the House passed a three-year renewal of the spy law with some reforms, though without new warrant requirements.

Democrats raised concerns with re-upping it after Trump selected Pulte as acting director of national intelligence (DNI).

Pulte, director of the Federal Housing Finance Agency and a close Trump ally, is set to replace outgoing DNI Tulsi Gabbard on June 19 while retaining his other duties.

Acting appointments do not require Senate confirmation—but Democrats and some Republicans in the Senate appeared less than enthusiastic about the selection after Trump announced it on June 2.

When asked about Pulte on June 2, Sen. John Cornyn (R-Texas), who lost the GOP Senate primary to Trump-backed Ken Paxton, told reporters, “I see no evidence of any qualifications for that job.”

Sen. John Cornyn (R-Texas) speaks at a rally for his Senate primary campaign in Austin, Texas, on Feb. 17, 2026. Nathan Worcester/The Epoch Times

That same day, Sen. Tom Cotton (R-Ark.), who chairs the Senate Intelligence Committee, declined to comment on Pulte’s fitness for the position when asked about him.

Sen. Mark Warner (D-Va.), ranking member of the intelligence committee, voiced shock and disapproval of Trump’s selection at a June 2 hearing, noting that Pulte lacked experience in law enforcement, the military, and other relevant domains.

He also warned that the pick could undermine public confidence in Section 702.

On June 5, almost all Senate Democrats, joined by some Republicans, blocked a measure to renew the provision.

With the Pulte controversy brewing, House Speaker Mike Johnson (R-La.) met with Trump at the White House on June 9. Johnson’s staff confirmed the meeting to The Epoch Times but did not elaborate on what was discussed.

On June 10, Trump laid out a new path forward on Truth Social.

“I am asking Congress to send me a short-term extension of FISA to provide time for the selection and confirmation of a permanent head of the agency,” the president wrote.

Some Senate Democrats continued to express concern about Pulte and Trump’s plan.

Warner told reporters he was not sure if there were enough votes to advance a short-term extension of the authority.

Sen. Mark Warner (D-Va.) speaks at a campaign event for Virginia Democratic gubernatorial candidate former Rep. Abigail Spanberger at H Mart in Centreville, Va. on Nov. 2, 2025. Madalina Kilroy/The Epoch Times

Sen. Peter Welch (D-Vt.) told reporters he would “listen to Senator Warner, adding that the choice of Pulte was “the best way to sabotage [Section] 702.”

Sen. Chris Murphy (D-Conn.), a frequent critic of Section 702, told The Epoch Times he had not seen Trump’s proposal, adding, “There’s no votes for this bill while Bill Pulte is still on the job.”

Yet, some key Democrats and aligned lawmakers signaled more optimism.

Sen. Brian Schatz (D-Hawaii), who is expected to succeed outgoing Sen. Dick Durbin (D-Ill.) in leadership, told reporters he was open to a short-term extension. He said he doesn’t anticipate the provision will lapse on June 12.

Sen. Angus King (I-Maine), an independent who caucuses with Democrats, told reporters a short-term extension could pass muster with him if it came with a clear timeline.

However, he said he would have issues with Pulte staying in the role “for an indefinite period.”

Sen. Josh Hawley (R-Mo.) told The Epoch Times he had no problems with Pulte.

“If he wants him to be acting as short-term [DNI], that’s fine,“ he said. ”If he wants to nominate him permanently, that’s fine by me.”

Hawley told reporters he would not raise opposition to a short-term extension of the authority.

https://www.zerohedge.com/political/spy-law-nears-expiration-lawmakers-mull-short-term-renewal