ALL THE MONEY NEWS YOU NEED TO KNOW | | | | | | Elisabeth Buchwald | Personal Finance & Markets Reporter @BuchElisabeth | | | | |
Hello Daily Money readers. I am Elisabeth Buchwald here with your top stories. |
It's certainly nice to breathe a tiny sign of relief after yesterday's busy Fed Day. ICYMI, the Fed raised interest rates by 25 basis points to help bring down inflation despite the financial turmoil following the collapse of Silicon Valley Bank and Signature Bank '. |
Fed Chair Jerome Powell acknowledged that the banking crisis will constrain bank lending and weaken the economy and inflation and so it is only forecasting one more rate hike for the year. |
For more on what Powell had to say about the rate hike and what it means for your money be sure to check out our coverage from yesterday (and of course, continue reading our latest stories). |
Is TikTok getting banned? |
"TikTok has never been more popular or more controversial," USA TODAY tech reporter Jessica Guynn, brilliantly wrote. |
Republicans and Democrats don't seem to agree on much these days but they appear to be united on the idea that TikTok needs more oversight. |
The problem: it's owned by the Chinese company, ByteDance. |
There are significant concerns that the Chinese government by way of ByteDance is gaining access to Americans' data containing potentially sensitive information, or that TikTok could be used as a propaganda machine by controlling what users do and don't see on the app. | U.S. officials. worried the Chinese-owned TikTok is spying on Americans and spreading misinformation, are considering banning the app.
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That's why some lawmakers are proposing a forced sale of TikTok to a U.S.-owned company. There are even some rumors that lawmakers may be looking into an outright ban. |
Could that actually happen and on what grounds? |
📰 More stories you shouldn't miss 📰 |
Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you. |
Elisabeth Buchwald is a personal finance and markets correspondent for USA TODAY. You can follow her on Twitter @BuchElisabeth and sign up for our Daily Money newsletter here | | | | U.S. officials. worried the Chinese-owned TikTok is spying on Americans and spreading misinformation, are considering banning the app. | | | |
A heavy public relations campaign involving TikTok influencers has come to the nation's capital as U.S. officials are considering banning the hugely popular video-sharing app over worries it poses risks to cybersecurity and data privacy. (March 22) | | | | An idea that has been used by other countries to fund their national retirement programs could be dead on arrival in the U.S. | | | | After nine years, the sixth generation Camaros will come off the assembly line at the Lansing Grand River Assembly Plant in January 2024. | | | | A study from a federal lab found utility-scale solar farms don't significantly affect nearby property values – and the effect was only in rural areas. | | | | California lawmakers are considering a bill to ban five chemicals from being used in the manufacturing and sale of many foods in the state. | | | | The Fed's aggressive interest rate hikes have eroded the value of bank assets such as government bonds and mortgage-backed securities. | | | | Inflation, aggressive Fed rate hikes, failed banks are creating market havoc that's crushing new retirees' futures. Will they be able to recover? | | | | Gift card theft may go unnoticed for a long time because people hang on to unused gift cards or give them long after the card has been bought. | | | | February housing numbers suggest the U.S. housing market could be turning back up after falling sales throughout 2022. | | | | | | | Sign up for the news you want | Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. | | | | | | |
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