Fed Caution on Rate Cuts, REMAX Leadership Shakeup, and Apple Clarifies Siri Privacy After $95M Settlement

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Fed Caution on Rate Cuts

Minutes from the Federal Reserve’s December meeting, released yesterday, show growing concerns over inflation, with officials noting the uncertainty surrounding incoming administration policies. Though not directly naming the party leader, the minutes highlight worries over the potential impacts of his plans for trade and immigration reform, including tariffs and deregulation.

Fed officials indicated that the risks of higher inflation are rising, especially with stronger-than-expected price increases and the uncertainty around Trump’s economic agenda. As a result, the central bank is opting for a slower pace of interest rate cuts. They’ve lowered the benchmark borrowing rate to a target range of 4.25% to 4.5%, but expect fewer rate cuts in 2025 than initially predicted.

The Fed also pointed out that, while inflation remains above its 2% target, the economy is still growing at a strong pace, making caution crucial as they assess the situation. The outlook remains uncertain, and Fed officials say they will adjust policy based on incoming data.

As a reminder, the Federal Reserve decides the bank or borrowing rate, not mortgage rates directly. 

Source: Link

RE/MAX Leadership Shakeup

Amy Lessinger has announced her resignation as president of RE/MAX, effective January 17, 2025. Lessinger’s departure comes less than a year after she took the helm in February 2024, following the exit of longtime CEO Nick Bailey. The company disclosed the resignation in a filing with the Securities and Exchange Commission on Wednesday.

As RE/MAX searches for a new president, current CEO Eric Carlson, who joined the company in November 2023 after serving as CEO of Dish Network, will step in as interim president. Lessinger’s resignation comes amid ongoing challenges at RE/MAX, which has struggled with a decreasing agent count and nine consecutive quarters of falling revenue, most recently reported for Q3 2024.

Lessinger had been with RE/MAX for over two decades, initially joining as an agent in 1998. She later opened a RE/MAX branch in Reno, Nevada, before transitioning to the corporate side in 2020, when she sold her brokerage and joined RE/MAX’s world headquarters. In her short time as president, Lessinger had focused on revitalizing the brand by attracting younger agents, emphasizing the need for improved technology and educational resources to help them succeed in a competitive market.

No specific reason for Lessinger’s departure was provided, but the company has accepted her resignation. We’ll continue to monitor this developing story as RE/MAX seeks new leadership.

Source: Link

Apple Clarifies Siri Privacy After $95M Settlement

If you’ve wondered why your feed is full of advertising for shoe booties after you told your assistant that the team needed to order more before the next listing, you’re not alone and now we know why.

Apple has clarified its position on privacy in the wake of a $95 million class-action settlement over its Siri voice assistant. The tech giant faced accusations that Siri recorded private conversations without users’ knowledge and shared them with third parties, including advertisers. While Apple settled the case last week, paying up to $20 per eligible device, it continues to deny the allegations.

In a statement on Wednesday, Apple emphasized it has never sold Siri data, nor used it to create marketing profiles or for advertising purposes. The company said that while Siri requires some real-time data to function, it only collects the minimum necessary information to respond accurately. Apple also confirmed that audio recordings are not retained unless users opt-in to help improve Siri.

This comes as Apple faces similar privacy challenges from other voice assistant platforms, with a related lawsuit against Google pending in federal court.

As privacy concerns continue to dominate the tech landscape, Apple promises to enhance Siri’s privacy features moving forward.

Source: Link

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