News·4 min read

Daily Skimm: Ethiopia, Interest Rates, and Twitter

Representative of the Ethiopian government, and Getachew Reda (2nd R), Representative of the Tigray People's Liberation Front (TPLF), sign a peace agreement.
November 3, 2022

Tigray

The Story

Ethiopia and Tigray have reached a truce.

Catch me up.

In November 2020, Ethiopian Prime Minister and Nobel Peace Prize winner Abiy Ahmed launched a military operation in the country’s northern Tigray region. Tensions were already at a boiling point when the Tigray People's Liberation Front (TPLF) — a regional ruling party there — defied Abiy by holding parliamentary elections months earlier. Then Abiy said the TPLF attacked a military base and tried to steal weapons and artillery. Abiy responded with airstrikes. Tigray gained the support of other opposition groups. Since the war began, about 500,000 people have died and over 1 million others have been displaced. And the UN has accused both sides of potential war crimes and crimes against humanity, including ethnic cleansing and sexual violence. Now, the Ethiopian gov and Tigrayan forces are waving their white flags. 

What’d they agree on?

After spending over a week hammering out the details in South Africa, the Ethiopian gov and the TPLF have agreed to a “cessation of hostilities.” They also agreed to an “orderly, smooth and coordinated disarmament” and to give Tigray access to “humanitarian supplies.” Crucial, since an estimated 80% of the 6 million people in Tigray are food insecure. The Ethiopian gov has also agreed to restore electricity and banking to the region. But the talks did not include Eritrea — a longtime foe of the TPLF — which fought alongside Ethiopia. And it’s unclear if the neighboring country will respect the agreement, especially since Eritrea considers leaders in Tigray a threat. 

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For nearly two years, the conflict has caused devastation in the region. And the UN and world leaders are commending efforts to bring it to an end. But the truce comes months after a ceasefire agreement fell apart, leaving many wondering if the peace will last.

And Also...This

What’s not afraid to take the elevator to the top...

Interest rate hikes. Yesterday, the Fed raised interest rates by 0.75 percentage point. ICYMI, it’s the sixth time rates have gone up this year in an effort to get inflation — which is still near 40-year highs — under control. And as Fed Chair Jerome Powell put it, “we have a ways to go.” The news that more hikes are coming sent the Dow tumbling about 500 points. But the central bank’s also signaling it may slow the pace of rate hikes. That could mean a smaller increase at next month's meeting (think: .5 percentage point). And a few smaller raises next year.

  • Let’s make this about me: The higher the interest rates are, the more expensive it is to borrow money. And borrowers (sorry, we’re talking about you) can wind up paying more for things like mortgages, credit card debt, and personal loans. It all comes as inflation is one of the biggest reasons voters are heading to the polls next week.

Who people are talking about…

Justice Clarence Thomas. Yesterday, newly released emails revealed that former President Trump’s lawyers saw Thomas as “key” to overturn the 2020 election. For context: the emails were turned over to congressional investigators who are looking into John Eastman (aka Trump’s lawyer). In the emails — from December 2020 — Eastman and other attorneys were making plans to delay the certification of results in Georgia. One lawyer suggested appealing the results to Thomas, who handles emergency appeals from the state, saying the justice could get them a “favorable judicial opinion.” The news comes after Thomas’s wife, Ginni, has also been in the spotlight for working to overturn the results. That reportedly includes communicating with Trump associates and pressuring Arizona state officials to reject Biden’s win in the state.

What may be up for grabs…

The Washington Commanders. Yesterday, the NFL team's controversial owners said they’ve hired a bank to explore “potential transactions.” Read: Potentially selling the team. Dan Snyder and his franchise are facing multiple investigations into allegations of sexual harassment and financial wrongdoings. Last year, the NFL fined the team $10 million after an investigation found the team’s workplace demonstrated "a general lack of respect" toward women. And recently, there’s been talk about kicking Snyder to the curb as a team owner. Now, all eyes are on Snyder — who’s owned the team since 1999 — to see if he sells the entire franchise or parts of it.

What we may need to be careful with...

Alcohol. A new study found that alcohol abuse is responsible for about 1 in 5 deaths of younger Americans. That's from looking at national and state mortality data for Americans ages 20-49. But what’s even more concerning is that this data is from 2015-2019 — before the pandemic. Since then, the pandemic has made it worse, leading to an increase in drinking — especially among women. Now, researchers are proposing a bump in alcohol sales taxes and more regulation to help save lives.

PS: Here’s when to consider being ‘sober curious.’

What people are talking about...

Parkland. Yesterday, the 2018 Parkland school shooter was sentenced to life in prison for killing 17 people, including 14 students. He will not be eligible for parole. Victims' family members called him a “monster” during emotional impact statements, while the judge commended them for being “strong and patient and graceful” throughout the process.

Who’s showing all love is universal…

These newlywed beauty queens

While Tumblr’s getting naked

Twitter reportedly wants people to pay up in order to go behind the (pay)wall.

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