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| Good morning, Daily Money readers. Jayme Deerwester back with you this Monday. |
| In 1921, Canadian scientist Frederick Banting discovered insulin and later sold the patent to the University of Toronto for $1 declaring that the life-saving drug did not belong to him, "It belongs to the world." |
| Now, 100 years later, the 8.4 million diabetics in the U.S. who rely on insulin pay an exorbitant amount of money for a drug that supposedly belongs to them. Between 2014 and 2018, the average price jumped 40%, causing families to shell out hundreds of dollars a month, even with good insurance. And when they can't make ends meet any other way, they ration their medication, often ending up in the hospital because they could only afford a fraction of the insulin they were supposed to use that month. New legislation could change that by capping the price on insulin. |
| 💡 INSIGHT OF THE DAY: The Federal Reserve is due to begin two days of meetings Tuesday, possibly signaling the arrival of interest-rate hikes in an effort to tamp down inflation. The central bank is likely to announce that it will more rapidly reduce the amount of Treasury bonds and mortgage-backed securities it has been buying to hold down long-term interest rates, economists say. The Fed has kept its key short-term rate near zero since the COVID-19 pandemic triggered a deep recession in March 2020. |
| Other stories you won't want to miss: |
| Minute Maid recall. Threat of foreign metal objects reported in three different drinks. |
| All I want for lunch is the Mariah menu. Tuesday kicks off 12 days of free food at McDonald's. |
| Social Security changes are coming in 2022. Here are the four biggest updates you need to know about. |
| Want to stream the new "Matrix" movie on the cheap? New HBO Max subscribers who sign up before Dec. 22 get a special deal and swag. |
| Tesla and Mercedes vehicles allow gaming while driving. Mercedes issued a recall. Tesla has not. |
| MOOD MUSIC: My favorite Billie Eilish number from this weekend's episode of "Saturday Night Live" wasn't one of the two she performed live. It was actually her cover – at least I think it was hers – of the Smiths' "Please, Please, Please, Let Me Get What I Want." The plaintive tune served as the musical accompaniment for " Lonely Christmas," in which the singer plays a teen who uses a notepad to invite the lonely elderly woman (Kate McKinnon) in the next building to join her family for Christmas dinner. Talk about no good deed goes unpunished. |
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