NYC Attack, Inflation, and Mysterious Alaskan Clouds Everything you need to know for today in five minutes.

Good morning. It's Wednesday, April 13, and we're covering an attack inside a Brooklyn subway, another month of inflation, and much more. Have feedback? Let us know at [email protected].



Attack in Brooklyn

At least 10 people were shot and dozens injured in New York City during morning rush hour yesterday after a man wearing a gas mask threw a smoke canister and opened fire in a Brooklyn subway. Police are searching for a person of interest, Frank James, after finding a credit card and a key to a U-Haul van at the scene. 


James remained at large as of this morning, however officials stopped short of calling him a suspect. A motive has not been identified, though a number of violent social media posts by James have surfaced.


Officials said they recovered the U-Haul van, a gun, and a bag, which included additional unused smoke canisters and fireworks. They also recovered undetonated devices in the area. See videos and photos taken of the aftermath here (warning—sensitive content). 


The station where the events unfolded is a major transfer hub in Brooklyn’s Sunset Park neighborhood and runs two popular lines that make express stops into Midtown Manhattan. Sunset Park is considered one of the city's most diverse neighborhoods.

Inflation Climbs Again

US inflation rose 8.5% in March compared to the same time last year, the largest such increase since December 1981. It also marked the fifth straight month inflation hit a new 40-year high.


The consumer price index, a proxy for inflation that tracks the price of a basket of goods and services, rose 1.2% over February, the highest monthly increase since September 2005. Higher inflation means consumers can buy fewer goods with each dollar they spend (see 101). Housing, food, and gas prices—with the latter partially driven by the Ukraine crisis—were the largest contributors to the increase in the index. See data broken down by product here.


To curb inflation, the Federal Reserve raised interest rates last month and is expected to do so a number of times through the rest of the year. It typically targets an annual inflation near 2%. Read more on the link between inflation and interest rates here.

Charges in Albany

New York Lt. Gov. Brian Benjamin (D) resigned yesterday after he was arrested on five counts of campaign-related bribery, falsification of records, and wire fraud charges stemming from reported illegal donations during his comptroller campaign last year. Benjamin pleaded not guilty during an appearance in a Manhattan federal court.


Benjamin is charged with conspiring to steer $50K in state funds to a nonprofit led by Harlem real estate investor Gerald Migdol in exchange for thousands of dollars of illegal campaign contributions, many of which were under fraudulent names. The indictment claims Benjamin was aware of the fraudulent contributions and was active in covering them up. Migdol was arrested in November on wire fraud charges.


Benjamin previously served as a state senator before he was appointed lieutenant governor by New York Gov. Kathy Hochul (D) in August 2021 after former Gov. Andrew Cuomo resigned.

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Sports, Entertainment, & Culture

> Gilbert Gottfried, actor and comedian notable for his unique voice, dies at 67 from complications related to muscular dystrophy (More)


> US Congress says NFL's Washington Commanders may have engaged in unlawful financial conduct including concealing ticket revenue (More)


> Brooklyn Nets, Minnesota Timberwolves win play-in tournament games, advance in NBA Playoffs (More) | WNBA commissioner says league continues to work to bring star Brittney Griner home; Griner has been detained in Russia since February (More)

Science & Technology

> Biden administration to temporarily allow gasoline mixtures blended with 15% ethanol to be sold in bid to lower gas prices (More) | See background on ethanol-blended fuel (More)


> Psilocybin, the active ingredient in magic mushrooms, found to rewire different regions of the brain in patients with depression; may underlie the compound's therapeutic properties (More)


> Monkeys can sense their own heartbeats, study suggests; capability has been tied to mental health, consciousness, and memory (More)

Business & Markets

In partnership with UNest

> US stock markets fall (S&P 500 -0.3%, Dow -0.3%, Nasdaq -0.3%) for second consecutive day on highest inflation since 1981 (More)


> Forbes releases annual Midas List of the world’s best venture capitalists (More) | Stripe, Alphabet (Google), Meta (Facebook), Shopify, and McKinsey partner to form Frontier, which aims to purchase nearly $1B of permanent carbon removal by 2030 (More)


> US consumers spent $8.8B on airline flights in March, up 28% over pre-COVID-19 levels in 2019, amid strong travel demand (More)

From our partners: Give your children a financial head-start. The UNest app makes family investing easy through a simple, flexible, and tax-advantaged custodial account for kids. It's helping families nationwide save up for college education and other important milestones, and they just announced UNest Legacy, allowing you—along with friends and family—to give them the gift of crypto. Join the UNest Legacy waitlist for early access, entry into giveaways, and much more today.

Politics & World Affairs

> Russian President Vladimir Putin rejects peace talks, says invasion of eastern Ukraine will proceed (More) | Western officials investigate claims of Russian use of chemical weapons (More) | See updates on the war here (More)


> Oklahoma Gov. Kevin Stitt (R) signs near-complete abortion ban into law; legislation, likely to face legal challenges, provides exemptions only to save the life of the mother (More)


> UK Prime Minister Boris Johnson fined for breaking COVID-19 protocols during summer 2020 (More) | COVID-19, overdoses pushed US deaths last year to 3.465 million, the highest on record (More)



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Clickbait: Bizarre Alaskan clouds spark conspiracy theories.


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"I always wanted to be someone better the next day than I was the day before."

- Sidney Poitier

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