🥁 Axios PM: Inflation headaches

Plus: Wordle copycats | Wednesday, January 12, 2022

Open in app View in browser   Presented By Facebook   Axios PM By Mike Allen ·Jan 12, 2022 Good Wednesday afternoon. This edition of PM — edited by Justin Green — is 547 words, a 2-minute read.     1 big thing: Inflation headaches Data: U.S. Bureau of Labor Statistics; Chart: Thomas Oide/Axios The highest annual inflation since 1982 is causing headaches for the Biden administration and the Fed, reports Axios chief economic correspondent Neil Irwin. The good news: Prices rose more slowly in December than earlier in 2021, with the 0.5% surge down from 0.8% in November and 0.9% in October. The bad news: A 0.5% monthly inflation rate, if sustained for a year, would work out to 6.2% annual inflation. President Biden said: "[W]e are making progress in slowing the rate of price increases. At the same time, this report underscores that we still have more work to do. Between the lines: Economists believe the index peaked in December, or will by March. (Reuters) The bottom line: "Much of the tumultuous nature of the supply chain ... continues, and unfortunately there is not a lot of relief in sight," supply chain executive Douglas Kent told The New York Times.     2. Reid lies in state Photo: Chip Somodevilla/Getty Images Former Senate Majority Leader Harry Reid is the 15th senator to lie in state in the Capitol Rotunda. His casket rested on the catafalque used for Abraham Lincoln.     A message from Facebook Why Facebook supports updated internet regulations     Rochelle is one of many experts working on privacy at Facebook—to give you more control over your information. Hear more from Rochelle on why Facebook supports updating regulations on the internet's most pressing challenges, including federal privacy legislation.     3. Goldman partners with King Center President Biden and Vice President Harris walk past Freedom Hall at The King Center in Atlanta yesterday. Photo: Jonathan Ernst/Reuters Goldman Sachs and its One Million Black Women program partnered with The King Center to help 13- to 18-year-olds become global leaders, Hope King scooped in Axios Markets. "By lifting up Black women and girls everywhere, we can not only honor the legacy of Martin Luther King Jr., but also create a more dynamic and inclusive economy," said David Solomon, chairman and CEO of Goldman Sachs.  Context: Goldman Sachs launched One Million Black Women last March in response to a national outcry for companies to do more to reverse racial injustices.  Civil rights leader Coretta Scott King founded the Atlanta-based King Center to promote nonviolent social change following the assassination of her husband, the Rev. Dr. Martin Luther King Jr. Dr. Bernice A. King, CEO of The King Center, said today: "We know that when you uplift a Black woman, she will, in turn, use her power to uplift everyone around her." "I have witnessed over and over and over again that when Black women are given access, opportunity and power, they ... ensure that everyone is represented." Go deeper: The economic impact of Black women.     4. 🧐 Wordle copycats Screenshot: Axios   Wordle, the online word game that went viral after New Year's, has started to attract copycats — including some that charge hefty subscription prices or sell items online, Axios' Ina Fried writes. Why it matters: The game has a simple premise, making it easy to duplicate. Apple has started removing some of the Wordle-like apps, per The Verge. The real Wordle is a simple web app, found here. It spread rapidly as people shared their results on Facebook and Twitter. In the competing Absurdle, your software "opponent" can keep changing the hidden word on you. 🔧 How Wordle works: Each day, you guess a five-letter word — by guessing a five-letter English word. The game lets you know if a letter is in the right place ... in the word but not in the right place ... or not in the word at all. From there, you keep guessing — using real, five-letter English words — and hopefully get it within six guesses. Share this story.     A message from Facebook Facebook puts your safety and security front-and-center     Since July, Facebook's safety and security teams have taken action on: 1.8 billion fake accounts. 9.8 million terrorism-related posts. But our work to stop bad actors is never done. Learn more about how we're working to help you connect safely.   Like this email style and format? Bring the strength of Smart Brevity® to your team — more effective communications, powered by Axios HQ.   Axios thanks our partners for supporting our newsletters. If you're interested in advertising, learn more here. Sponsorship has no influence on editorial content. Axios, 3100 Clarendon B‌lvd, Suite 1300, Arlington VA 22201   You received this email because you signed up for newsletters from Axios. Change your preferences or unsubscribe here.   Was this email forwarded to you? Sign up now to get Axios in your inbox.   Follow Axios on social media: