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| Happy Valentine's Day, Daily Money readers. It's Bailey Schulz here to bring you Tuesday's top headlines. |
| Today's the day to celebrate love, but recent data from the Federal Trade Commission reminds us to be cautious when exploring a new relationship – especially if it started online. Nearly 70,000 people reported a romance scam last year, with reported losses at $1.3 billion. |
| A couple of recent examples: In January, a 36-year-old Florida woman was arrested after swindling a Holocaust survivor out of $2.8 million after they met on a dating app. And a California man last year pleaded guilty to stealing $1.5 million from more than a dozen victims, including romantic partners, who were led to believe he was a millionaire and former Navy SEAL. |
| So how can people avoid scammers? The FTC warns that scammers will lie about not being able to meet in person, ask for money and try to isolate their victims from friends and family. The FBI recommends asking questions to make sure the person you are communicating with is legitimate, and to research their photo and profile. |
January CPI inflation rate slows to 6.4% |
| Inflation eased for the seventh straight month in January, as the annual rise in prices for goods and services slowed to 6.4% thanks to lower costs for used cars. |
| But compared with December, inflation last month rose by 0.5% from 0.1%, driven up by shelter costs. |
| The report "underscores the challenges faced by the Fed," said John Leer, chief economist at Morning Consult. "Inflation may have peaked, but it's not showing signs of rapidly returning" to the Fed's 2% inflation target, he said. |
| To get there, the Fed will likely have to continue hiking rates higher and longer than many anticipated. |
📰 More stories you shouldn't miss 📰 |
| Homeownership rates for Hispanic and Black households beat white households during pandemic. Here's how. |
| Barney reboot: Mattel gives its purple dinosaur an animated makeover |
| Super Bowl Tubi commercial shocked some viewers: Here's what to know about the streamer |
| Love is in the air as married Delta Air Lines pilots command their first flights together |
🍔 Today's Menu 🍔 |
| Pennsylvania is offering its residents the chance to purchase highly coveted collector bottles of whiskey in a lottery this week. |
| Residents and liquor licensees in the state can enter the lottery to purchase a bottle from the highly sought-after Buffalo Trace Antique Collection, which drops annually and features whiskey that has been aged for at least 15 years. Participants will be limited to purchasing a single bottle, which will retail for $109.99. |
| About the Daily Money |
| 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. |
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