Anna's Daybreak News

_{Just facts, you think for yourself}

Thursday, 5:32 AM

December 19, 2024

Good morning news friend! Stay tuned to the unfolding stories shaping the world we live in today. 📰🌟

Federal Reserve Slashes Rates

The Federal Reserve cut its key interest rate by a quarter-point to a range of 4.25%-4.50%. This is the third cut of the year. The Fed projected only two rate cuts for 2025, less than the four cuts estimated in September.

Chair Jerome Powell noted the need for caution due to persistent inflation, which was 2.8% in October. The Fed's new inflation projection is 2.5% for 2025. The unemployment rate is at 4.2%, which has risen nearly one percentage point in two years.

Economists argue that further rate reductions could risk overheating the economy. The central bank's decision faced dissent from Cleveland Fed President Beth Hammack, who preferred to keep rates unchanged.

Source: Read More

National Security Concerns Over Popular Routers

Authorities are investigating TP-Link, a router brand with 65% market share in the US market. It supplies devices to various federal agencies, including the Defense Department. Reports linked TP-Link routers to Chinese cyberattacks against Western targets.

In October, Microsoft identified a Chinese hacking group using thousands of compromised TP-Link devices for attacks. Investigations by the Commerce, Defense, and Justice Departments could lead to a potential ban on TP-Link routers next year.

TP-Link’s market share rose from 20% in 2019 to 65% in 2024, largely due to lower prices—often more than 50% cheaper than competitors.

India and Taiwan have raised similar security concerns, with Taiwan banning TP-Link routers in government and educational institutions.

Source: Read More

Housing Market Shifts

In November, US single-family housing starts rose 6.4%, reaching a seasonally adjusted annual rate of 1.011 million units. The South led this increase, rebounding 18.3% after hurricane disruptions.

Building permits for future single-family housing rose slightly by 0.1%, reaching 972,000 units. On the other hand, multi-family permits surged 22.1% to 481,000 units. Overall housing starts dropped 1.8% to a rate of 1.289 million units.

The inventory of single-family homes under construction decreased 0.8% to 637,000, the lowest level since March 2021.

Current tariffs on Canadian softwood lumber rose to 14.54%. The average 30-year mortgage rate remains near 7%, impacting affordability.

Source: Read More

Fentanyl Supply Chains

Chemical brokers facilitate the supply of Chinese chemicals to Mexican cartels. One key broker claims his crew produced up to 100 kilograms (220 pounds) of fentanyl weekly. This amount can generate 50 million counterfeit pills.

US authorities are shifting strategies, focusing on disrupting the supply chain rather than solely intercepting finished products. Stopping brokers is challenging, as there may be hundreds operating in Mexico with ties to legitimate businesses.

Brokers utilize bribery, dummy companies, and direct purchases to import precursors, often camouflaged as consumer goods. Regulations on dual-use chemicals remain weak, allowing brokers to operate with relative impunity.

Over the past decade, more than 400,000 US deaths have resulted from fentanyl overdoses.

Source: Read More

Budget Showdown

President-elect Donald Trump rejected a bipartisan budget deal aimed at preventing a government shutdown. Trump and Vice President-elect JD Vance labeled the plan as filled with "giveaways to Democrats."

The proposed budget included $100.4 billion for disaster aid, $10 billion in economic aid for farmers, funding to replace a collapsed bridge in Maryland and pay rises for members of Congress.

Elon Musk showed opposition on social media, claiming the bill was excessive. He warned Republicans that they risked their careers by supporting the deal.

House Speaker Mike Johnson is now rushing to devise a new plan before federal funding expires at midnight on Friday. Trump has also called for an increase in the debt ceiling as part of the negotiations.

Source: Read More

Unveiling the Secrets of Neutrinos

China launched a $300 million neutrino detector located 2,297 feet (700 meters) underground in Kaiping, Guangdong province. This project is part of the Jiangmen Underground Neutrino Observatory, set to start operations in 2025.

Neutrinos are tiny particles that rarely interact with matter, making them elusive to study. The detector will focus on antineutrinos generated from two nuclear power plants situated over 31 miles (50 kilometers) away.

By detecting light flashes produced from collisions within the detector, scientists hope to gain insight into these particles. This project took nine years too complete, and it uses 20,000 photomultiplier tubes to measure neutrino interactions.

The new detector aims to answer critical questions about the universe, including the imbalance between matter and antimatter stemming from the Big Bang.

Source: Read More

“Religion isn’t so much about telling people that there is one God as about preventing them from thinking that they are God.”

Baked with love,

Anna Eisenberg ❤️