We’re going to get a little wonkier than usual today, because there’s a complex but important change happening in the way the Federal Reserve seems to think about the labor market and this economy more broadly. Plus: An update on that couple who waved guns at Black Lives Matter protesters and the nuances of America’s newest federal holiday. Here’s everything we talked about today: “St. Louis gun-waving couple plead guilty to misdemeanor charges” from the St. Louis Post-Dispatch “Beyond The Phillips Curve: A Dynamic Approach To Communicating Assessments of ‘Maximum Employment’” on Medium Marketplace’s “Race and Economy” series “This Is the Story of a Man Who Jumped Into Lake Michigan Every Day for Nearly a Year” from The New York Times “Biden signs bill into law making Juneteenth a national holiday” from CNN “How Juneteenth becomes commercial” from Politico And here’s a link to join our fan-run Discord server