Newsletter Feb 11, 2022

3 things you must know

Inflation hits a four-decade high in January; 7.5% for year
Inflation was as hot as ever last month, with consumer prices seeing their largest annual jump in nearly four decades as costs rose for a wide range of items. The Labor Department said Thursday the consumer price index (CPI) climbed 7.5% over the 12 months to January, its largest increase since February 1982.
FIND OUT IF THE WORST OF INFLATION IS STILL TO COME

Americans' credit card debt rises to 22-year high in Q4
Americansâ€™ credit card debt increased to a 22-year high in the fourth quarter of 2021 with more than $860 billion now owed. Overall, U.S. credit card debt increased by $52 billion in Q4 2021. The news arrives amid a dire inflation report and only weeks before an expected interest rate hike from the Federal Reserve.
THE TIMING OF THE REPORT IS CAUSE FOR CONCERN

US-Canada border protests halt production for automakers
Trucker protests at the U.S.-Canada border over vaccine mandates have caused some auto manufacturers to shut down their production plants. Ford and Toyota have both closed plants due to the inability to get car parts, which are being delayed at two main border points.
SEE THE GROWING IMPACT OF THE PROTESTS ON TRADE

Markets

DJIA	35,241.59	-1.47%
S&P 500	4,504.08	-1.81%
Nasdaq Composite	14,185.64	-2.10%
Japan: Nikkei 225	27,696.08	0.42%
UK: FTSE 100	7,672.40	0.38%
Crude Oil Futures	89.81	-0.08%
Gold Futures	1,825.70	-0.64%
Yen	116.04	0.03%
Euro	1.14	-0.25%
* As of market close

Biden's approval rating hits an all-time low

A new poll released Thursday reveals that President Joe Bidenâ€™s approval rating from Jan. 10 to Feb. 6, 2022 is 41% -- the lowest since he took office in 2021. The poll surveyed 1,527 people via web and phone. When asked, â€œDo you approve or disapprove of the way Joe Biden is handling his job as President?â€ 58% expressed their disapproval.

SEE HOW BIDEN FARED ON COVID, ECONOMY, FOREIGN POLICY

Tesla plagued by fourth recall in Feburary

In the fourth recall in two weeks, Tesla issued another one for nearly 578,000 of its electric vehicles over pedestrian warning notification that may be obscured due the Boombox feature. Earlier this week, Tesla recalled 26,600 vehicles due to a windshield defrosting problem that could affect driver visibility. Last week, Tesla issued two recalls.

WHY TESLA HAS BEEN FORCED TO MAKE SO MANY RECALLS

Trump on hot seat for flushing documents

Former President Donald Trump could face time in prison if claims that he flushed classified documents down the toilet are proven to be true, a lawmaker said. Rep. Jackie Speier, D-Calif., discussed the possibility of Trump being prosecuted after he allegedly clogged a toilet in the White House with wads of printed paper believed to be important documents.

FIND OUT HOW TRUMP RESPONDED TO THE FLUSHING CLAIM

Royal flush

Who was serving as president when indoor plumbing was first installed in the White House? What was the primary purpose for the upgrade?

Thursday's answer: Nike is celebrating its 50th year in the shoe business. It launched its first shoe in 1972, nicknamed the Moon Shoe

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