The Federal Reserve raised interest rates once again on Wednesday by 25 basis points, causing volatility in the stock market and surprising many experts who anticipated the recent bank failures might cause the Fed to change its pattern of policy. The Federal Reserve Chairman Jerome Powell explained that while the banking turmoil did raise conversations about a pause in rate hikes, the central bank ultimately needed to remain focused on its priority of fighting “inflation pressures continue to run high.” The host of ‘Making Money’ on FOX Business Network, Charles Payne, joins the Rundown to discuss what consequences of another rate hike following banking concerns, the factors keeping inflation high in America, and the origins of aggressive action from the Fed.
TikTok CEO Shou Zi Chew will testify before Congress during a House Energy and Commerce Committee hearing today. Lawmakers on both sides of the aisle have expressed concerns about users’ data privacy and other security threats related to the Chinese government. Over two dozen states already banned the app from government devices, however, today’s hearing could ban the app entirely. Founder and CEO of Applied AIC and cyber security expert John Cofrancesco joins the Rundown to explain how TikTok and other apps collect your data, why he supports legislation that would ban the app, and why he won’t allow his own children to be on social media.
Plus, commentary by Opinion Editor for The Washington Times Charlie Hurt.
