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Benjamin Franklin

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Top News

More Russian sanctions coming

• According to reports from Bloomberg News, the Biden Administration intends to enforce new export regulations and an additional set of sanctions on Russia that would target vital industries.

• The new sanctions will target Russia's defense and energy sectors, financial institutions and several individuals the report from Bloomberg stated.

China keeps interest rates steady

• China maintained its benchmark lending rate for the sixth consecutive month in February, a decision that comes as the world's second largest economy continues to display indications it is moving forward from the recession caused by the pandemic.

• "Unlike the US and EU, China remains the outlier on monetary policy creating room for the People's Bank of China to remain accommodative in the first half" analysts at Barclays Bank said in a note.

Meta trials new subscription service

• Meta Platforms is experimenting with a fresh subscription service that would enable Facebook and Instagram users to pay for obtaining a verified account.

• For $11.99 per month on the web, or $14.99 per month on Apple and Android, Meta will use a government identification to verify a user's account and give the account a blue badge.

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In Other News

Beware of TikTok tax takes!

• Tax professionals are warning against a growing trend of Americans seeking tax guidance from social media platforms like TikTok, pointing out that some of the tips provided are either deceptive or flat out inaccurate.

• In general, more Americans are turning to social media for financial advice, with 53% of respondents in a 2022 Insurance Barometer Study saying they turned to social media for financial advice versus 25% in 2019.

US steps us Turkish aid

• The US State Department announced they would allocate an additional $100 million towards earthquake aid in Turkey and Syria, augmenting the $85 million previously authorized.

• President Joe Biden said he intends to authorize $50 million for refugee and migration assistance and $50 million in humanitarian assistance to help those affected by the devastating earthquake that hit both countries in early February.

Twitter charges for account security

• Twitter announced that only paid subscribers would be able to use text messages as a two-factor authentication (2FA) technique to safeguard their accounts.

• Two-factor authentication, meant to make accounts more secure, requires an account holder to use a second authentication method in addition to a password.

Key Economic Events

• Monday - No Major Economic News - US Stock and Bond Markets Closed

• Tuesday - No Major Economic News

• Wednesday - FOMC Meeting Minutes, Fed's Williams Speaks

• Thursday - Eurozone Inflation Rate, US GDP (Q4), Fed's Bostick Speaks

• Friday - Michigan Consumer Sentiment Final (Jan), Fed's Mester Speaks

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• 15 signs it might be time to find a new job

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• Follow these 9 tips to improve your credit score quickly!

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