Interesting Global News
What is global news?
Something that happened or was uncovered recently anywhere in the world. It doesn't have to have global implications. Just has to be informative in some way.
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Title format
Post title should mirror the news source title.
URL format
Post URL should be the original link to the article (even if paywalled) and archived copies left in the body. It allows avoiding duplicate posts when cross-posting.
[Opinion] prefix
Opinion (op-ed) articles must use [Opinion] prefix before the title.
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Title and associated content has to be in English.
2. No social media posts
Avoid all social media posts. Try searching for a source that has a written article or transcription on the subject.
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If something is not covered by community rules, but are against lemmy.zip instance rules, they will be enforced.
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Clickbait title. Here's the start of the article so everyone can skip it like it deserves to be.
Fed Chair Jerome Powell has spilled the beans on a hidden reason why inflation remains stubbornly high—and it’s sure to resonate with many Americans.
Last month, Powell told the Senate Banking Committee that record insurance premiums have become one of the most significant contributors to lasting inflation.
“Insurance of various different kinds—housing insurance, but also automobile insurance, and things like that—that’s been a significant source of inflation over the last few years,” Powell explained. “And it’s to do with a million different factors.”
In fact, in February, the consumer price index rose 3.2% year-over-year. Over the same period, motor vehicle insurance was up a whopping 20.6%.
“The behavior of the MVI [motor vehicle insurance] component of the CPI has truly been remarkable, and I don’t see any evidence of near-term relief,” Tom Simons, U.S. economist at Jefferies, told Reuters in an email.
Unfortunately, auto insurance rates are only the tip of the iceberg.
According to Policygenius, homeowners are spending $175 billion, or 21% more, on insurance in 2023 than a year ago. Compared to pre-pandemic levels, the cost of insuring a home in the U.S. has increased by a staggering 50%.
Insurance experts blame extreme weather events for the increase in homeowner insurance. "In the longer term, companies are withdrawing from writing insurance in some coastal areas. It’s a significant issue,” he said.