Economics

• GDP for the 4^th quarter came in at 6.9% annualized growth rate, (5.7% year-over-year) and higher than expected. (Yahoo Finance, CNBC)
• The Federal Reserve Open Market Committee met this week and did not yet raise the target interest rate, but suggested it may in March. (APNews) (CNBC) (NYTimes-subscription may be required)
• Janet Yellen “rebrands” the current administration’s economic agenda as “modern supply-side” economics. (Reuters)

"Modern supply-side economics seeks to spur economic growth by both boosting labor supply and raising productivity, while reducing inequality and environmental damage," Yellen said. "Essentially, we aren’t just focused on achieving a high topline growth number that is unsustainable — we are instead aiming for growth that is inclusive and green."

• The PCE is up 5.8% for 2021, a 40-year record increase. (MarketWatch)

Investing

• Robinhood is losing revenue, users and value. (CNBC)
• A prescription video game for ADHD is going public via SPAC. (The Verge)
• An interesting review of how perplexing the market is for investors. (The Irrelevant Investor)
• The supply chain and ship shortage didn’t seem to keep Apple from earning record profits in the fourth quarter. (CNBC)
• Anyone checking out the real estate market knows prices have been going nowhere but up. Values have doubles since the great recession. (National Mortgage Professional)

Cryptocurrency

• Some well-known sports stars like Aaron Rodgers are taking at least some of their contractual payments in crypto. Some may be regretting that decision. (Forbes)

Taxes

• Peer-to-peer payment apps now much report transactions to the IRS if they total more than $600/year. (Inc Magazine, WaPo-subscription may be required)
• Fun fact: Marijuana excise tax revenue just surpassed the tax revenue from alcohol in Massachusetts. (WCVB)

Family Finance

• Interesting data on the impacts cash payments to parents can have on infant brain development that may come into play in future debates on child tax credits. (Vox)
• Mark Cuban launched his generic drug company offering them to the public pretty much at cost. (Forbes)

Higher Ed

• Read all about the new SAT – shorter and all online, and yes, you can use a calculator! (NPR)

About the Author

Beth Tallman

Beth Tallman entered the working world armed with an MBA in finance and thoroughly enjoyed her first career working in manufacturing and telecommunications, including a stint overseas. She took advantage of an involuntary separation to try teaching high school math, something she had always dreamed of doing. When fate stepped in once again, Beth jumped on the opportunity to combine her passion for numbers, money, and education to develop curriculum and teach personal finance at Oberlin College. Beth now spends her time writing on personal finance and financial education, conducts student workshops, and develops finance curricula and educational content. She is also the Treasurer of Ohio Jump$tart Coalition for Personal Financial Literacy.

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