NPR News: 06-11-2026 12AM EDT
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What are the latest consumer price trends and their causes?
Live from NPR News in Washington, I'm Dan Ronan. Consumer prices in May rose 0.5% at an annual rate that's 4.2%, the highest in three years. Surging energy and gasoline prices because of the war against Iran are the main reason for the spike. At the White House, President Trump insisted inflation will come down later this year.
You know what I really love? I love the inflation. You know why? Because as soon as this war is over... You know, I can say it now, something you didn't know. You know, we've been taking out millions of barrels of oil. Nobody knows it. You know who doesn't know about it? Iran, until right now. We took out the other night 22 ships late at night with no lights because they don't have any radar because we blasted the crap out of it. We took out, that's why oil is $85 a barrel.
Democrats pounced on the president's remarks. Senator Elizabeth Warren says it shows the president does not care about the rising cost of living for Americans. House lawmakers grilled Microsoft co-founder Bill Gates for more than four hours Wednesday about his years-long relationship with convicted sex offender Jeffrey Epstein. The appearance was part of the Republican-led House Oversight Committee investigation. NPR's Ava Berger reports.
Bill Gates told lawmakers he never witnessed or knew about any of Epstein's crimes. Before the closed-door interview, he stopped and told reporters he was appearing voluntarily.
I hope my testimony is helpful to the important work of the committee. find justice for the victims.
In an opening statement, Gates said he met with Epstein on various occasions from 2011 to 2014 because he believed Epstein could help connect him with potential donors for his foundation. Gates also admitted to affairs and said Epstein used that information to pressure Gates to, quote, re-engage with him. Ava Berger, NPR News.
Huge changes are coming for students hoping to get help paying for college, as NPR's Corey Turner reports. July 1st brings a major overhaul of the federal student aid system.
The changes were passed by Republicans last year and include new loan limits for graduate students who used to be able to borrow enough to cover the full cost of their program. After July 1st, they'll be limited to $20,500 a year. Borrowers enrolled in the Biden-era SAVE repayment plan will need to switch plans as SAVE is being shut down. And if they don't, they'll be automatically placed into one of the least flexible standard plans. July also brings the rollout of two new repayment plans that will be the only options for new borrowers moving forward. And in one more big change, the Pell Grant program for low-income students is expanding to help pay for short-term workforce training. Corey Turner, NPR News.
All three stock market indexes sustained losses Wednesday in part because of the renewed military action Iran and the inflation numbers. This is NPR. The New York Knicks Wednesday night stunned the San Antonio Spurs in Game 4 of the NBA Finals. Trailing 27 points at the half, the Knicks chipped away in the third and fourth quarters. New York's O.G. Inouye scored a basket with 1.2 seconds left to win the game. The final score, 107-106. It is the biggest comeback in NBA Finals history. The Knicks lead the series three games to one. The series moves back to San Antonio Saturday night. Visa has struck a partnership with OpenAI, the maker of ChatGPT. It's a step towards AI independently shopping for people.
NPR's Alina Saluki has more.
Visa says it struck a deal with OpenAI to embed its payment network into ChatGPT.
How is President Trump's stance on inflation being received?
This is a major partnership in what is a fast-developing industry of AI commerce. Companies like Google and Amazon have been racing to get shoppers to buy things as part of their conversations with chatbots and eventually entrusting the chatbots themselves to complete purchases for the user. Visa says its deal with OpenAI will have Visa overseeing any payments, securing the transactions and monitoring for fraud. It's a massive expansion of AI shopping for Visa and an evolution for OpenAI.
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