The Daily Money

ALL THE MONEY NEWS YOU NEED TO KNOW

Thu Jan 30 2025

Daniel de Visé | Personal Finance Reporter

Good morning! It's Daniel de Visé with your Daily Money.

While lawmakers grilled Robert F. Kennedy Jr. about his views on vaccines and abortion, President Donald Trump's nominee to lead the U.S. Department of Health and Human Services was also asked how he'd run the two largest government health insurance programs, Medicare and Medicaid.

The hearing offered the public a glimpse of the Trump administration's plans for Medicaid, a federal-state health program for low income and disabled residents. While Trump vowed during the campaign to protect Medicare, he hasn't made the same promise about Medicaid.

UnitedHealth hack reached 1 in 2 Americans

The latest tally for the largest-ever health industry data breach just got a lot bigger.

UnitedHealth Group now says hackers stole records of about 190 million people in last February's attack on its Change Healthcare subsidiary. The health care giant's updated figure is nearly twice as large as the company's previous estimate of 100 million victims.

Now, more than 1 in 2 Americans must wonder how their compromised records will be used.

Interest rates unchanged, for now

The Federal Reserve paused its interest rate cutting campaign Wednesday and gave no signal it plans to lower rates again in the near term, amid uncertainty spawned by inflation and Trump's economic policies.

The decision to hold rates steady at a range of 4.25% to 4.5% could mark the beginning of an extended respite, as the Fed assesses the course of inflation and awaits details on Trump's trade and immigration plans. Alternatively, it could be a brief hiatus.

What's next for interest rates?

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About The Daily Money

Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you.

Daniel de Visé covers personal finance for USA Today.