Newsletter Sep 19, 2022

3 things you must know

How much will the Federal Reserve raise interest rates?
When the Federal Open Market Committee meets this week to deliberate its next policy move, it will find itself between a rock and a hard place: stubbornly high inflation -- 8.3% in August, is very close to its 40-year high of 9.1% in June -- and a slowing domestic economy, in which the 12 districts covered by the Fed's regional branches has slowed down. That's consistent with a string of real GDP reports suggesting the economy may already be in a recession. It all adds up to another interest rate hike.
SEE HOW MUCH EXPERTS SAY THE FED WILL RAISE RATES

Rising interest rates: What they mean for most Americans?
There has been a lot of talk in financial circles about the Fed's decision to raise interest rates, but what does it really mean for average Americans? Rising interest rates have put an end to the era of near-free money, making money more costly to borrow. That changes the economic lifestyles for individuals, businesses, and the government. Some benefit, some get hurt, and some would end up in bankruptcy. Here are the real winners and losers.
FIND OUT WHAT RISING INTEREST RATES MEAN FOR YOU

FedEx closing over 90 locations, implements hiring freeze
FedEx said it will be closing over 90 stores and at least five corporate office locations as it looks to shore up its costs. FedEx also said it was freezing hiring and reducing its flight frequency. The company is looking to cut expenses as it saw its delivery volume shrink in the last quarter and expects the global economy to get worse. The news comes after Amazon announced a similar scale-back of more than 70 warehouse closures and job cuts.
GET THE DETAILS ON FEDEX'S PLAN TO CUT EXPENSES

Markets

DJIA	30,822.42	-0.45%
S&P 500	3,873.33	-0.72%
Nasdaq Composite	11,448.40	-0.90%
Japan: Nikkei 225	27,567.65	-1.11%
UK: FTSE 100	7,236.68	-0.62%
Crude Oil Futures	83.77	-1.57%
Gold Futures	1,672.00	-0.68%
Yen	143.47	0.38%
Euro	1.00	-0.39%
* As of market close

Bidens travel for Queen Elizabeth's funeral

President Joe Biden paid his last respects in London to Queen Elizabeth II on Sunday, as time ticked down for ordinary mourners to view her coffin ahead of Monday's funeral. Biden crossed himself and put his hand on his heart as he stood with his wife Jill on a gallery overlooking the flag-draped casket in the cavernous Westminster Hall while members of the public filed by. Biden said the late queen, who reigned for 70 years until her death Sept. 8 at 96, "defined an era."

FIND OUT HOW TO WATCH THE QUEEN ELIZABETH'S FUNERAL

Hurricane Fiona packs punch in Puerto Rico

Hurricane Fiona made landfall on the southwestern coast of Puerto Rico on Sunday, bringing dangerous flash flooding and a full power outage for about 1.5 million customers. Fiona had maximum sustained winds of 85 mph that extend as far as 140 miles from its center. Heavy rain caused significant flooding, even as the most dangerous part of the storm is expected to hit Monday. Forecasters say there could be around 25 inches of rain produced with the potential for landslides.

FIND OUT IF HURRICANE FIONA WILL HIT THE US EAST COAST

Apple drops enticing clues about iPhone 15

Apple's recently released iPhone 14 hasn't even shipped yet and techies are already talking about the iPhone 15 planning phase. A new report claims several possible features of the iPhone 15, using cutting-edge technology never before seen in the series. Apple reportedly wants to equip the iPhone 15's high-end models with TSMC's 3nm tech on its A17 system-on-a-chip chipset with cutting-edge N3E technology.

SEE THE OTHER FEATURES EXPECTED FROM THE iPHONE15

Forbidden Apple

The first "iPhone" was not released by Apple. What company originally launched the iPhone and what company sued Apple for using the name?

Friday's answer: E.A. Johnson is credited with inventing touch screen technology back in 1965. His breakthrough is still used in today's tech.