Newsletter Jan 27, 2022

3 things you must know

The Fed decides to defer first interest rate increase until March
The Federal Reserve signaled its first interest-rate hike in March following its meeting of the Federal Open Market Committee. The Fed noted that it saw the fundamentals of the economy as on an upward trajectory. It acknowledged concerns about the number of COVID-19 infections nationwide and ongoing supply chain issues, but described market conditions as â€œaccommodativeâ€ to a rate hike.
WHAT THE COMING RATE HIKE MEANS FOR THE ECONOMY

US trade deficit grows by more than $100 billion in December
The U.S. trade deficit ballooned in December as import demand increased despite the squeeze on overall trade by ongoing supply chain bottlenecks. The U.S. exported $157.3 billion worth of goods in December, an increase of $2.2 billion from November. At the same time, imports hit $258.3 billion, $5.1 billion more than last month.
WHAT DOES THE WIDENING TRADE DEFICIT MEANS FOR US?

Don't delay the journey of financial independence for children
Teenagers will tell you that they know everything - except revolving credit card debt, skyrocketing bills, and applying for loans. These are the kinds of things that shouldnâ€™t be learned by trial and error. That's why itâ€™s important for parents to have open and honest conversations about money with their children.They will thank you for it someday.
SEE THE TOP LESSONS KIDS NEED TO KNOW ABOUT MONEY

Markets

DJIA	34,168.09	-0.38%
S&P 500	4,349.93	-0.15%
Nasdaq Composite	13,542.12	0.02%
Japan: Nikkei 225	26,352.68	-2.44%
UK: FTSE 100	7,469.78	1.33%
Crude Oil Futures	86.72	-0.72%
Gold Futures	1,815.30	-0.79%
Yen	114.50	-0.15%
Euro	1.12	-0.08%
* As of market close

Breyer's retirement opens door for Biden

Supreme Court Justice Stephen Breyer will announce his retirement, allowing President Joe Biden to name his replacement. Questions immediately surfaced as to whom Biden will appoint to serve with only two other liberal judges currently on the bench. The vacancy comes after former President Donald Trump appointed three judges in four years.

FIND OUT WHICH CANDIDATES ARE ON BIDEN'S SHORT LIST

Moderna joins quest for Omicron booster

Moderna announced Wednesday that it has begun clinical trials of a booster dose of the COVID-19 vaccine designed specifically to combat the Omicron variant. The news came the day after Pfizer/BioNTech said it had started enrollment for a clinical trial for an Omicron-specific vaccine.

SEE WHAT MODERNA REVEALED ABOUT ITS COVID-19 BOOSTER

McDonald's snaps Musk, sparks crypto spike

A mock cryptocurrency coin created on Tuesday shot up over 285,000% after an exchange of tweets between McDonaldâ€™s and billionaire Elon Musk. In an attempt to get McDonaldâ€™s on board with Dogecoin payments, Musk tweet to McDonaldâ€™s that he would eat a Happy Meal on live TV if the burger chain would accept the coin for payment at its restaurants.

SEE MCDONALD'S COMEBACK THAT INSPIRED A CRYPTO SPIKE

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Bench warmer

Which Supreme Court Justice served the longest term, and how long?

Wednesday's answer: The combined total of perfect scores on the SAT (1600) and ACT (36) is 1636. Only a handful of people have hit the mark.

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