William Shatner and Elon Musk clashed on Twitter over the weekend regarding Twitter's plan to remove blue checkmarks from accounts of celebrities and other high-profile individuals who do not pay for Twitter's subscription service, Twitter Blue. Musk argued that the subscription service is meant to provide additional features to users, while Shatner expressed frustration with the idea of having to pay to keep his blue checkmark. A spokesperson for Twitter declined to comment on the dispute, leaving the future of the plan uncertain.
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The Federal Reserve (Fed) announced on Wednesday that it is raising interest rates by a quarter of a percentage point, the ninth rate hike since March 2022. This decision is part of its ongoing efforts to slow the economy and battle stubbornly high inflation, but it runs contrary to the government's recent efforts to stabilize banks. Mark Zandi, chief economist of Moody’s Analytics, said that the Fed’s decision is “incongruous with efforts to re-establish the stability of the financial system.” It is unclear how the recent bank failures will affect the Fed’s decision-making going forward.
Prince Harry and Meghan Markle have been invited to the coronation of King Charles III on May 6th, potentially reuniting the royal family after a period of tension. The invitation comes as the couple have been asked to vacate their residence at Frogmore Cottage and pay back $3 million in taxpayer funds used to renovate it. The coronation at Westminster Abbey in London will be the first meeting between Charles and his younger son since the rift between the two deepened.
Residents of East Palestine, Ohio, have been concerned about the safety of their water supply since a train derailment in July caused several cars containing chemicals to spill. The Environmental Protection Agency (EPA) and local and state leaders have said that the water supply is safe to drink, but residents remain concerned and are calling for further testing and monitoring. The Ohio EPA has said that it is continuing to monitor the situation and will take any necessary action to protect public health.
The Congressional Budget Office (CBO) has released its updated 10-year Budget and Economic Outlook, predicting an unemployment rate of 5.1% this year and high interest rates and inflation. In response, Senate Majority Leader Chuck Schumer (D-N.Y.) has made clear that Democrats won't accept cuts to Medicaid, the government health insurance program for low-income Americans. The report serves as a reminder of the need to protect Medicaid and other safety net programs to ensure an equitable and sustainable economic recovery.
Raquel Welch, an international sex symbol and trailblazer for female actors, has passed away at the age of 82. Her career spanned over 50 years, with over 30 films and 50 television series and appearances. She rose to fame in the late 1960s with her iconic role in the film "One Million Years, B.C." and her legacy will live on for many years to come.
Former South Carolina Governor Nikki Haley is expected to announce her candidacy for the 2024 presidential election on February 15th in Charleston, South Carolina. She is the first Republican to jump into the race this year and is expected to face former President Donald Trump as her only competition. Haley has hinted at a potential presidential bid this month, and her announcement is expected to move her closer to launching a campaign. It will be interesting to see how her candidacy is received by the Republican party and the American public.
Key takeaways: Treasury Secretary Janet Yellen announced that the U.S. is projected to reach its borrowing limit of $31.4 trillion on January 19th. The Treasury…