ALL THE MONEY NEWS YOU NEED TO KNOW | | | |
Happy Thursday, Daily Money readers. It's Bailey Schulz with the day's top headlines. |
"Send me location," Zuckerberg responded in an Instagram story Wednesday. The 38-year-old founder and CEO of Facebook and Instagram parent company Meta recently competed in his first jiu-jitsu tournament and won gold and silver medals. |
The exchange came on the heels of Musk tweeting, "I'm sure Earth can't wait to be exclusively under Zuck's thumb with no other options." |
Earlier this month, the Verge reported Meta is working on a Twitter competitor potentially called Threads, and talking to celebrities about being early users. Chris Cox, Meta's chief product officer, said it is the company's "response to Twitter," the outlet reported. | This combo of file images shows Facebook CEO Mark Zuckerberg, left, and Tesla and SpaceX CEO Elon Musk. In a now-viral back-and-forth seen on Twitter and Instagram this week, the two tech billionaires seemingly agreed to a "cage match" face off. Manu Fernandez, Stephan Savoia, AP Photo |
Powell: The battle against inflation 'has a long way to go' |
During testimony before the House Financial Services Committee, Federal Reserve Chair Jerome Powell warned that getting inflation back down to 2% "has a long way to go" as inflation pressures continue to run high. The Personal Consumption Expenditures price index (PCE) was up 4.4% year-over-year as of April, while core PCE prices were up 4.7%. |
The comments come one week after the Fed held its key rate steady for the first time since January 2022. At the time, the Fed signaled that two more quarter-point hikes are likely this year. |
"Given how far we've come, it may make sense to move rates higher but to do so at a more moderate pace," Powell said. "Earlier in the process, speed was very important. It's not very important now." |
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Over the next few months, Chick-fil-A's cow mascots, which made their initial appearance 28 years ago, will be starring in an online game, an animated short film and a new line of bovine-inspired merchandise. |
"Code Moo, A Chick-fil-A Game," is available on playCodeMoo.com and lets players help the cows in their ongoing battle against their rival Circus Burger. Players can win one of 2.5 million food prizes, while supplies last. Prizes include free Chick-fil-A food for a year and a trip for two to the 2024 College Football Playoff National Championship. |
Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you. | | | | Musk might want to be careful: Zuckerberg recently competed in his first jiu-jitsu tournament and won gold and silver medals. | | | | Powell on Wednesday told Congress that getting inflation back down to 2% "has a long way to go" as inflation pressures continue to run high. | | | | A freeze and hurricane in late 2022 impacted Florida's orange crops, leading a potential shortage and higher prices for oranges and orange juice. | | | | Though Amazon Clinic declares it is "compliant with the Health Insurance Portability and Accountability Act," there's more to the fine print. | | | | A waterfront mansion in Indian Creek, listed for $85 million, has 7 bedrooms, 14 bathrooms, library, movie theater, wine cellar, wet bar, cabana house | | | | It's easy to go overboard planning a big vacation at Disney World, but that doesn't make it any more magical. | | | | Finland wants to get people off their phones while exploring its pristine natural beauty. | | | | The Ford Super Duty pickups are used for everything from personal transportation to utility company bucket trucks and ambulances. | | | | Chick-fil-A spotlights its cows this summer with a new online game, merchandise and prizes including a year of food and national championship tickets. | | | | United Airlines announced new in-app functions, including the ability to get digital hotel and meal vouchers if your flight is delayed. | | | | | | | Sign up for the news you want | Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. | | | | | | |
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