5 things to know for June 12: Hunter Biden guilty, Gaza protests, Economy, Bus hijacking, Medical debt

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A new star will appear in the night sky any day now as space enthusiasts await an explosive celestial event known as a nova. The “once-in-a-lifetime” sighting promises to be an exciting one for amateur astronomers, a NASA spokesperson said. Here’s what else you need to know to Get Up to Speed and On with Your Day. A jury found Hunter Biden guilty Tuesday on all three federal felony gun charges he faced, concluding that he violated laws meant to prevent drug addicts from owning firearms. The conviction marks the first time a president’s immediate family member has been found guilty of a crime during their father’s term in office, though his crimes predate Joe Biden’s tenure as president. In a statement, Hunter Biden said he was “disappointed” by the guilty verdict but “grateful” for his family’s love. President Biden expressed support for his son in a statement and said he would “respect the judicial process.” Hunter Biden could face up to 25 years in prison and a fine of up to $750,000 at his sentencing, which will likely occur before Election Day. For more, listen to today’s “One Thing” podcast, where CNN’s Marshall Cohen takes you inside the courtroom where Hunter Biden was found guilty. Protesters formed new encampments on UCLA’s campus this week, demanding an end to the Israel-Hamas war. At least 27 people were arrested after setting up multiple pro-Palestinian areas at the university that police said were unlawful. While protests spread at college campuses this spring denouncing Israel’s handling of the conflict, UCLA’s campus turned into a scene of brutality in April when violent counterprotesters attacked pro-Palestinian demonstrators. Meanwhile, a US-backed Israeli proposal for a ceasefire and hostage deal appears to be in limbo, with neither side yet publicly committing to the plan as talks continue. More than 37,000 Palestinians have been killed in Gaza since Israel’s war against Hamas started in October, according to the latest figures from the enclave’s health ministry. A key inflation report will be released today, hours before the Federal Reserve is slated to announce its decision on interest rates. The central bank is widely expected to hold rates steady for the seventh straight meeting and, more importantly, outline how many times it hopes to ease rates in 2024. This comes after the April Personal Consumption Expenditures index — the Fed’s preferred inflation gauge — showed the US economy made little progress in keeping costs in check. US home prices are at record highs and prices for new and used cars are running hot. The Consumer Price Index and the Fed’s rate announcement have fallen on the same day just seven times since 2014. Despite the rare event, analysts say it’s unlikely to move the stock market.