Good morning! This is Daniel de Visé bringing you your Daily Money update.

During a recent hearing, Robert F. Kennedy Jr. faced tough questions regarding his opinions on vaccines and abortion, while President Trump’s chosen candidate to head the U.S. Department of Health and Human Services was also queried about the management of Medicare and Medicaid, the two largest federal health insurance programs.

The session provided insights into the Trump administration’s approach to Medicaid, the joint federal-state program designed to assist low-income and disabled individuals. While Trump expressed intentions to safeguard Medicare during his campaign, he has yet to extend a similar assurance to Medicaid.

UnitedHealth Data Breach Affects Half of Americans

The recent update on the largest health care data breach has revealed even greater figures.

UnitedHealth Group announced that hackers accessed information from approximately 190 million individuals during the breach of its Change Healthcare subsidiary last February. This new estimate nearly doubles the previous figure, which stood at 100 million affected individuals.

Consequently, over half of all Americans are left questioning how their exposed information might be utilized.

Interest Rates Remain Steady for Now

The Federal Reserve decided on Wednesday to pause its interest rate cuts, offering no indications of potential rate reductions in the immediate future, in light of inflation concerns and the economic strategies proposed by Trump.

By maintaining interest rates within the range of 4.25% to 4.5%, the Fed seems to be on the verge of a prolonged period of stability as they evaluate inflation trends and await more information regarding Trump’s trade and immigration policies. However, this could also just be a temporary pause.

What does the future hold for interest rates?

About The Daily Money

The Daily Money provides top-notch consumer and financial news each weekday through YSL News, simplifying complex issues, offering succinct summaries, and discussing how various elements, from changes in Federal rates to bankruptcies, affect you.

Personal finance coverage by Daniel de Visé