Good morning readers. If you weren’t a fan of Bernie Sanders before, you will be now. The 82 year old senator from Vermont who’s been in politics longer then the Young and the Restless has been on air, has just introduced legislation that would reduce the standard workweek to 4 days (or 32 hours) without a pay cut. If passed, the act would be rolled out gradually over four years mandating overtime kick in after 32 hours worked in a week. If you work 8 hours a day, you would get overtime pay at time and a half. And if you’re working 12 hours a day (i.e., nurses), you’d be entitled to double your regular pay. Several countries around the world have already implemented a four day work week and reported benefits such as lower rates of burnout and stress, an increase in productivity, wellness and happiness.

At this point, it just seems like a no-brainer, right?

Let’s jump into today’s storylines.

In today’s digest:

• Inflation will be around for a while

• Headline Hustle: Fox News gets sued for alleged cover-up in Ukraine deaths, SpaceX advances Starship development with successful launch, a flight attendant accidentally caused the Boeing flight to nosedive

  The FCC is going after those “junk fees” on your cable bill

• Pulse Points: What’s Trending

ECONOMY

Don’t get to excited. Inflation isn’t going anywhere anytime soon

Just when you thought it was safe to peek at your savings account without wincing, inflation decides to stick around like an unwanted guest who didn’t get the hint. This week’s economic reports are painting a picture that’s a bit more complex than the "inflation is cooling off" narrative we’ve been hearing.

The rising heat of inflation

Recent figures are turning up the temperature on inflationary concerns, with reports across the board showing an uptick that's both broader and quicker than anticipated. The New York Federal Reserve's latest survey paints a picture of consumer expectations hardening for the long haul, hinting at a future where high prices could become a mainstay. February's numbers didn't help, with consumer prices leaping by 3.2% year-over-year, and the producer price index—a crystal ball into future retail prices—jumping 0.6% for the month. From the gas pump to the grocery store, the ripples of rising costs are being felt, challenging the narrative of a swift return to economic normalcy.

No doubt, the Federal Reserve faces a tricky path ahead. With inflation showing its resilience, the easy monetary policies hoped for might need to be shelved for a bit longer. Market watchers, previously betting on rate cuts, might now have to adjust their expectations as the Fed weighs its options.

Reading between the price tags. Consumer behavior, a signal of economic direction, is showing signs of caution, with retail sales inching up but not keeping pace with inflation. This dance between spending and prices hints at broader economic sentiments, painting a complicated picture of consumer confidence and financial planning.

Looking ahead…as the Federal Open Market Committee gears up for its next meeting, all eyes will be on how they interpret these inflationary signals. With economists urging a keen eye on consumer trends and inflation data, the path ahead is lined with both caution and curiosity. But despite the recent uptick, fed chair Jerome Powell has hinted rate cuts are around the corner, we just need to be careful when and how much we cut them by.

IN THE KNOW

Headline Hustle

🇺🇦 Lawsuit targets Fox news for alleged cover-up in Ukraine deaths. The lawsuit filed against Fox News alleges a series of damning accusations surrounding the tragic deaths of photojournalist Pierre Zakrzewski and contractor Oleksandra “Sasha” Kuvshynova in Ukraine. It claims Fox News engaged in negligent conduct, ignored warnings, and attempted to cover up its failures after the fatal incident. The lawsuit accuses top Fox executives and correspondent Benjamin Hall, injured in the attack, of culpability. Seeking unspecified damages, it paints a harrowing picture of mismanagement and disregard for safety.

🚀 SpaceX advances Starship development with successful test flight. SpaceX just hit a major milestone with its Starship rocket's third test flight. Despite breaking apart above the Indian Ocean, the rocket flew for about an hour, demonstrating its potential. This success brings SpaceX closer to making Starship operational, which is essential for missions like exploring the moon. With NASA's backing, Starship aims to revolutionize space travel, focusing on making gradual improvements toward its goal of sending humans to explore the Moon and eventually Mars.

✈️ The reason Boeing’s airplane nosedived? A flight attendant accidentally pushed a button. A meal service mishap caused a terrifying plunge on a Boeing 787 Dreamliner en route to New Zealand. A flight attendant accidentally triggered a seat switch, pushing the pilot into the controls and nosediving the plane. Passengers experienced intense G-forces, with some pinned to the ceiling. While investigations unfold, Boeing faces renewed safety concerns. As authorities probe the incident, passengers recount harrowing moments, underscoring the need for stringent safety measures in aviation.

BUSINESS

The FCC is after those “junk fees” on your cable bill

If you’ve ever looked at your cable bill and felt it looked more like a mystery novel then an actual bill, you’re not alone. That’s why the FCC is stepping up its game, tackling everything from sneaky cable fees to spotty internet and device security.

Turning the spotlight on hidden fees

The FCC is putting its foot down on those frustrating cable TV "junk fees" that have a way of creeping into bills, making us pay more than we bargained for. By demanding that providers include all those extra charges in their advertised prices, they’re making sure we know exactly what we’re signing up for. It’s a game-changer that’s all about keeping things clear and fair, so we can compare prices like apples to apples, not apples to cryptocurrency.

But it’s not just about making TV bills easier to swallow.

• The FCC is also zeroing in on the internet access gap, focusing on getting high-speed connections to rural and tribal areas left in the digital dust.

• They’re updating their maps to show who’s got speedy service and who’s left wanting, pushing for a future where everyone can log on to the opportunities the internet brings, from learning to earning.

And because our gadgets are now as essential as our keys or wallet: the FCC is also making moves to keep our tech safe from hackers. They’ve rolled out a cybersecurity label, kind of like a seal of approval, that tells you a device meets tough security standards. It’s a way to shop smarter, choosing gadgets that don’t just look good but are also armored against digital threats.

SNIPPETS

Pulse Points

• WeightWatchers CEO Sima Sistani assured employees in an internal memo that the company is financially solid and its new clinical business targeting GLP-1 weight loss drugs is exceeding growth expectations.

• Wall Street reacted negatively, with Under Armour shares dropping 12%, following the announcement that founder Kevin Plank will return as CEO, replacing Stephanie Linnartz who is stepping down after less than a year.

• Jeff Bezos and Lauren Sánchez are awarding $100 million in total to Bill McRaven and Eva Longoria for their societal contributions, as part of Bezos’ annual prize.

• Meghan, Duchess of Sussex, has reactivated her Instagram account after a hiatus since 2018, signaling the launch of a new business venture, American Riviera Orchard.

• James Crumbley, the father of the teenager responsible for the 2021 Michigan high school shooting, was convicted of involuntary manslaughter, following his wife's similar conviction a month earlier.

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