News Wrap: Airstrike on shelter in Khan Younis kills at least 25

Amna Nawaz:

In the day's other headlines: Palestinian health officials say that an apparent Israeli airstrike on a school-turned-shelter in the Southern Gaza City of Khan Yunis has killed at least 25 people. Dozens more were wounded and rushed to this local hospital. There was no immediate comment from Israel's military.

The latest strike comes as U.S. officials say they will reinstall a pier along the Gaza coast for a few days before it's dismantled permanently. The pier was first used to deliver much-needed aid in May, but it's been plagued by bad weather and security concerns.

Ukraine is mourning its dead from yesterday's Russian missile attacks across several cities and cleaning up the wreckage left behind. Flags in Kyiv flew at half-mast today for the 42 people killed and nearly 200 injured. The strike on a major children's hospital has sparked international outrage.

The Kremlin has denied responsibility, blaming Ukrainian missiles instead. But at an emergency meeting of the U.N. Security Council today, the U.S. ambassador pointed the finger squarely at Vladimir Putin.

Linda Thomas-Greenfield, U.S. Ambassador to the United Nations: Yesterday's attack makes abundantly clear Putin is not interested in peace. He's committed to wreaking death and destruction in pursuit of his war of aggression.

Amna Nawaz:

Meanwhile, Indian Prime Minister Narendra Modi met with President Putin in Moscow today, as the two countries seek closer ties, a relationship complicated by Russia's increasingly strong connection with China. Modi even alluded to yesterday's Russian attack in Ukraine, telling Putin — quote — "When we see innocent children dying, then the heart pains."

Separately, a court in Moscow issued an arrest warrant today for the widow of Russia's late opposition leader Alexei Navalny. The court accused Yulia Navalnaya, who left Russia in 2021, of — quote — "participating in an extremist community." She would face arrest if she ever returned.

That comes five months after Navalny died while serving a sentence in an Arctic prison charges that were widely seen as politically motivated. Navalnaya has publicly accused Vladimir Putin of murder and has vowed to continue her late husband's work.

Hunter Biden has withdrawn a motion seeking a new trial on federal gun charges. His lawyers requested a new trial last month, citing a technicality with an earlier appeal. Hunter Biden was convicted last month on all three felony counts related to his lying about drug use when he bought a handgun in 2018. He has denied wrongdoing.

Nikki Haley is releasing the 97 delegates she won during this year's Republican primary season and urging them to back Donald Trump at next week's convention. In a statement, the former South Carolina governor said — quote — "The nominating convention is a time for Republican unity. Joe Biden is not competent to serve a second term and Kamala Harris would be a disaster for America."

Haley was a thorn in Trump's side throughout the primary and the last major rival to drop out of the race. A spokesperson says she won't attend next week's convention in Milwaukee.

Federal Reserve Chairman Jerome Powell hinted today that the Central Bank is moving closer to cutting interest rates. In his testimony before a Senate panel, Powell said that the Fed had made — quote — "considerable progress" toward its goal of bringing inflation down from four-decade highs. And he acknowledged that a cooling job market and persistently high prices mean the Fed is walking a thin line when it comes to getting it right on rates.

Jerome Powell, Federal Reserve Chairman:

If we loosen policy too late or too little, we could hurt economic activity. If we loosen policy too much or too soon, then we could undermine the progress on inflation. So we're very much balancing those two risks, and that's really the essence of what we're thinking about these days."

Amna Nawaz:

In separate testimony before the House, Treasury Secretary Janet Yellen said she believes consumer prices will continue to fall, but blamed rent and housing costs for keeping inflation high. All eyes now turn to inflation and consumer sentiment data, which is due out later this week.

On Wall Street today, stocks ended mostly flat following those comments from Powell. The Dow Jones industrial average slipped about 50 points. The Nasdaq notched a new record, adding 25 points. The S&P 500 also ended at an all-time high.

And a passing of note. Former Oklahoma Senator Jim Inhofe has died. His family said he suffered a stroke over the Fourth of July holiday. Inhofe was a conservative fixture in the U.S. Senate for nearly 30 years. An Army veteran with five military installations in his state, he was a strong advocate for defense spending. He was also a staunch denier of climate change.

Fmr. Sen. James Inhofe(R-OK):

I asked the chair, you know what this is? It's a snowball.

Amna Nawaz:

Known for his bullish personality, Inhofe famously went to the Senate floor in 2015 with a clump of snow as evidence to refute global warming.

Flags will fly at half-staff in Oklahoma through tomorrow. Inhofe was 89 years old.