📉 J.Pow Just Said THIS About Interest Rates...

Good morning. US stock futures ticked higher in Thursday morning trading as investors monitored the first of Fed Chair Jerome Powell’s appearances on Capitol Hill for more insight on the path ahead for interest rate cuts.

✂️ Fed Chair: Not time to cut rates…yet

📝 Our report: The man with the monetary plan, Jerome Powell, is at it again! Speaking at a congressionally mandated appearance on Capitol Hill, Powell said he expects interest rates to start coming down this year, but is not ready yet to say when.  

 🔑 Key points:

• Powell said policymakers remain attentive to the risks that inflation poses and don’t want to ease up too quickly.

• During the question-and-answer session with House Financial Services Committee members, Powell said he needs “see a little bit more data” before moving on rates.

• “We believe that our policy rate is likely at its peak for this tightening cycle. If the economy evolves broadly as expected, it will likely be appropriate to begin dialing back policy restraint at some point this year,” Powell said in his comments.

💡 So what: Timing interest rate cuts correctly is crucial for Fed Chair Jerome Powell, as it directly influences economic conditions and financial markets. Interest rate cuts can stimulate economic activity by reducing borrowing costs for businesses and consumers, encouraging spending, investment, and borrowing. However, if timed incorrectly, rate cuts could fuel inflationary pressures or undermine financial stability. Powell must carefully assess economic indicators, market trends, and inflationary risks to determine the appropriate timing and magnitude of interest rate adjustments.

Thursday - U.S. Trade Balance, Consumer Credit

Friday - New York Fed President John Williams Speaks

 📈 Jay z shares his tips on business and investing

👨🏽‍💼 Here are 3 ways to be more influential at your job!

💳 Should you use one credit card to pay another?

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✖️ X moves closer to becoming payment platform

WHAT: Elon Musk's got big plans for his social media platform X! He said that X could soon receive approval for a money transmitter license in New York, putting the platform a step closer to offering payment features.

WHY: Since acquiring the company formerly known as Twitter in 2022, the billionaire has sought to turn it into an "everything app" like Tencent's dominant WeChat app in China, with features beyond social media, including the ability to send money to other X users.

🎮 Apple’s battle with videogame maker escalates

WHAT: Oh, Apple and Epic Games are at it again! This time, Apple's playing the gatekeeper, blocking Epic Games from setting up shop on iPhones and iPads in Europe. The two companies have been in a legal battle since 2020, when the gaming firm alleged that Apple's practice of charging up to 30% commissions on in-app payments on iPhones and other devices violated U.S. antitrust rules.

WHY: To distribute software on Apple iPhones, developers must sign up for an account with Apple and agree to its terms. Apple terminated some of Epic's developer accounts in 2020, when Epic pushed an update to its Fortnite app that violated Apple's in-app payment rules.

📱 Meta urged to fight account hijacking

WHAT: Looks like Meta Platforms just got a friendly knock on the door from 40 U.S. states and Washington, D.C.! They're not sending a welcome basket, though – they're asking Meta to put on its superhero cape and crack down on those pesky scammers who love to hijack Facebook and Instagram accounts. The states urged Meta to spend more money to prevent account takeovers, including through increased staffing, and to work more closely with people whose accounts are hacked.

WHY: In October, 41 states and Washington, D.C. sued Meta, claiming the company designed its platforms to addict children, damaging their mental health.

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