What would you do with $1 billion?

The Fed raised interest rates (again). President Joe Biden tested negative for COVID-19. And fat shaming isn't going to help improve health in the United States.

👋 It's Laura Davis and Julius Lasin. It's Wednesday. And this is the news you need to know.

But first, let's bust some monkeypox myths.🕵️‍♀️ Is it a rash? Can I catch it from shaking hands? As cases rise in the United States, here are some common misconceptions about monkeypox – plus, prevention strategies and what the government is doing about the outbreak. (No, you don't catch it from monkeys.)

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🌤 What's the weather up to in your neck of the woods? Check your local forecast here.

What should you know about winning $1 billion?

What would you do with $1 billion? A better question might be: What should you do with $1 billion? The already-giant Mega Millions lottery jackpot ballooned to $1.02 billion after no one matched all six numbers Tuesday to win the top prize. And now we're all dreaming about being billionaires. But claiming that much money is likely to draw attention from grifters, the taxman, and friends and family members, experts say.

Here's what you should know:

• If you win, zip your lips: Don't shout it from the rooftop, said financial adviser Rob Burnette. "Keep it quiet. Get organized and make a plan. Consider staying anonymous, if it’s a possibility."

• Why shouldn’t you tell everyone? In a word: Scammers.

• How much money will you actually get? That hinges on how you decide to receive your money and what state you live in, among other factors.

• Should you take the lump sum or installment payments? It depends. Mark Steber, chief tax officer at Jackson Hewitt, recommends considering the size of the lottery winning and your projected earnings.

💰 When is the next drawing? And what are your chances of winning? Answers here.

What does the Fed rate hike mean for the economy?

The Federal Reserve raised its key short-term rate by three-quarters of a percentage point for a second straight month in a bid to corral soaring inflation, matching the largest increase since 1994 again. It puts the federal funds rate – which is what banks charge each other for overnight loans – at a range of 2.25% to 2.5%, close to the Fed’s 2.5% long-run, or neutral rate. In recent months, Fed Chair Jerome Powell has said the central bank must “move expeditiously” to that neutral level and then likely beyond it to cool the economy and bring inflation under control. Keep reading to learn how the hike impacts the economy.

• The Fed raises interest rates by 75 basis points, again. This is what it means for you.

What everyone's talking about

• 'I cannot believe a century has passed': Norman Lear reflects on life for his 100th birthday.

• We created scorching 'heat islands' in East Coast cities. Now they're becoming unlivable.

• Targeted menthol cigarette ads led to high usage among Black people. Should they be banned?

• Who is Hunter Moore? Netflix documentary dives into downfall of 'Most Hated Man on the Internet.'

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Biden out of isolation

He's bustin' out of isolation, folks. The president has tested negative twice for COVID-19, ending his isolation six days after his July 21 positive test. "My symptoms were mild, my recovery was quick, and I'm feeling great," Biden said Wednesday. The president remains "fever free," Biden's physician, Kevin O'Connor wrote, and his symptoms are "steadily improving, and are almost completely resolved." He said Biden could discontinue his strict isolation measures. Keep reading.

• Biden administration launches Heat.gov, announces actions to lower electricity costs amid high temperatures.

• White House rewrites rules to push more affordable housing with COVID-19 rescue funds.

A 'substantial' proposal to bring Brittney Griner home

Secretary of State Antony Blinken said Wednesday that the U.S. made a "substantial" proposal to Russia to bring home WNBA star Brittney Griner. CNN reported that the U.S. offered Viktor Bout, a Russian arms dealer, in a prisoner swap for Griner and Paul Whelan, an American serving a prison sentence there for espionage. Blinken added he would engage with Russia's Foreign Minister Sergey Lavrov. It was the first public acknowledgment of a deal that could involve a prisoner swap or addressing the sanctions placed on the country after it invaded Ukraine. Keep reading.

• Ukraine warns Kremlin to 'retreat or be annihilated' in Kherson: Wednesday's updates.

• Griner timeline: What has happened since the WNBA star was detained.

Real quick

• DOJ prosecutors questioning witnesses about Trump's conduct on Jan. 6.

• Former Ole Miss QB Matt Corral admits regret in choosing Rebels.

• Former Minneapolis officers sentenced for violating George Floyd's rights.

• Family sues funeral home after wrong body put in mother's casket.

• Oregon residents detain man accused of igniting wildfires by tying him to a tree.

• Republican governors gave lucrative, no-bid COVID-19 deals to Utah firms, who then gave $1M to GOP campaigns.

Extra weight increases health risks in the long run; fat shaming hurts now

Every facet of society has failed fat people. Stigma against excess weight remains in every corner of life even as 42% of Americans fit the medical definition of obesity. With so many Americans carrying extra pounds, it seems logical that society would become more accepting of heavier people. But the public perception is that shaming people for their size will provoke them to lose weight. Advocates say there needs to be a shift. Read more about the negative impacts of fat-shaming on physical and mental health in the second part of USA TODAY's “Rethinking Obesity” series here.

A break from the news

• 💰 4 ways to protect your retirement fund from historically high inflation.

• 🏞 New travel to-do list just dropped: See the 10 most 'beautiful' sights in the U.S.

• 🛍️ The Nordstrom Anniversary sale 2022 ends in 5 days: Shop the best 100+ deals while you still can.

• 📦 Bookmark this: Trading spaces? Here's the ultimate moving checklist.

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Laura L. Davis is an Audience Editor at USA TODAY. Send her an email at laura@usatoday.com or follow along with her adventures – and misadventures – on Twitter. Support quality journalism like this? Subscribe to USA TODAY here.

This article originally appeared on USA TODAY: Mega Millions, Fed hike and Brittney Griner. It's Wednesday's news.