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U.S. Federal Reserve continues its assault on inflation

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The Central Bank ushers in its sixth increase this year

In an effort to lower runaway inflation, the U.S. Federal Reserve hiked interest rates by three-quarters of a percentage point.

This is the sixth increase this year — with the fed indicating that more raises are on the way.

The U.S. central bank’s move also boosted its key short-term rate to a range of 3.75% to 4%, marking its highest level in 15 years.

Acknowledging that the economic stress of their action over the past several months, Federal Reserve officials also urged patience, warning that interest rate hikes take time to work.

Fed chairman Jerome Powell said it would be “very premature” to think about having a pause in rate increases.

Additionally, Powell noted he does expect rates to peak at a more substantial level than policymakers had originally predicted back in September.

As inflations looms over the all-important midterm elections next week, Powell said that rates would “have to go higher and stay higher for a while.”

His new statement could make achieving his so called “soft landing” harder as its heightening the risk of a recession.

Veronica Dudo is the U.S. Correspondent for Ticker News covering America’s biggest headlines. As an Emmy® Award nominated global journalist, Veronica has traveled across the country and around the world reporting on historical events that connect all citizens. Lauded as an award-winning international journalist, Veronica has executed stellar news coverage for NBC News, CBS News, The Hill, ME-TV Network and AOL. Her stories have highlighted a plethora of topics ranging from breaking news and politics to economic affairs across the USA, European Union, and Asia; cultural affairs; globalization; governance; education; and sustainability.

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TikTok implements stricter guidelines on weight-loss drug promotion

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TikTok is tightening its regulations on influencers who promote weight-loss drugs like Ozempic.

With over 170 million users in the US, the app aims to prevent the spread of potentially harmful content related to rapid weight loss.

Starting in May, TikTok will prohibit influencers from posting “before-and-after” photos and restrict minors from accessing weight-loss content deemed risky. The crackdown extends to any content promoting drastic weight loss methods, aiming to combat the promotion of unrealistic body standards.

However, some influencers, like Dave Knapp and Kim Carlos, criticise the move, arguing it discriminates against those with health conditions. Others fear losing their income as TikTok takes down their content, prompting concerns about the platform’s future amid potential US bans.

As TikTok enforces stricter guidelines, influencers may seek alternative platforms to share weight-loss content. Despite the popularity of drugs like Ozempic and Wegovy, the crackdown reflects growing concerns about the impact of such promotions on user health.

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Game on with indie devs celebrated by Nintendo

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Nintendo Switch fans rejoice! The recent Indie World Showcase unveiled 17 new titles coming in 2024.

Including in the rundown is the adorable “Little Kitty, Big City” and explosive platformer “Anton Blast.” In other news, “Stellar Blade” confirms an uncensored release on PlayStation 5, Fallout’s TV adaptation gears up for Season 2, and Keanu Reeves joins the cast of Sonic 3 as Shadow. New releases this week include “Tales of Kenzera: Zau” and “Teenage Mutant Ninja Turtles Arcade: Wrath of the Mutants,” while “Fallout 4” gets a next-gen update. With “Stellar Blade” topping the list, gamers have plenty to look forward to in the coming weeks.

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What are the major takeaways from day one of Trump’s trial?

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The first day of Donald Trump’s criminal hush money trial that the former president broke the law and corrupted the 2016 election, while his defence lawyer said he committed no crime.

On this episode of Ticker Today – Former President Donald Trump’s hush money trial is officially underway, President Joe Biden makes cannibal claims, TikTok US ban enters the next phase and Gen Z’s are dropping degrees and picking up tools to become blue-collar workers.

Ticker’s Ahron Young and Veronica Dudo discuss.

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