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U.S. Fed raises rates by 50 basis points

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The U.S. Federal Reserve has raised interest rates by half a percentage point, and projected more rises to come in 2023, to rein in inflation.

 
The U.S. Federal Reserve has raised interest rates by half a percentage point, and projected more rises to come in 2023, to rein in inflation.

Policymakers are starting to move more cautiously, following signs that the most severe inflation in decades may be starting to ease.

The Federal Reserve has raised interest rates at an historically rapid pace this year, responding to inflation that is running at a 40-year high.

“It is likely that restoring price stability will require holding [interest rates] at a restrictive level for some time,” Powell said at a press conference. “History cautions strongly against prematurely loosening policy.”

“Despite some promising developments, we have a long way to go in restoring price stability.”

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Technological terror: China reveals uncanny AI romance film

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As competition intensifies in the streaming landscape, with players like Roku, Vizio, and Samsung launching their ad-supported platforms, TCL aims to carve its niche by offering compelling original content.

TCL, the renowned Chinese smart-TV manufacturer, announces its innovative use of generative artificial intelligence to produce original content for its streaming platform, TCLtvPlus.

Debuting this summer, “Next Stop Paris,” an AI-driven love story, marks the inaugural program from TCLtvPlus Studios

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Grindr application cruises into court over privacy concerns

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Grindr faces lawsuit over alleged privacy breaches

Grindr, the popular gay dating app, is under fire in London as hundreds of users claim their private information, including HIV status, was shared without consent. The lawsuit alleges commercial use of sensitive data, sparking concern within the LGBTQ+ community. Grindr vows to defend its practices while emphasising its commitment to user privacy and compliance with data regulations.

 

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The TikTok ban was just passed by the House. What could happen next?

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Washington D.C. has been under pressure to ban the popular Chinese-owned social media app TikTok.

TikTok users could soon find that the popular social media service is either under new ownership or could be outright banned in the U.S.

Calls are growing louder from many lawmakers and national security hawks to ban TikTok, over fears the app could censure content, influence users, and give Americans’ personal data to Beijing.

But the Chinese tech company, ByteDance—which owns TikTok— denies the allegations.

Dave Levinthal, the Editor-in-Chief of Raw Story joins Veronica Dudo to discuss.

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