Morning Wire Rising Inflation & DOJ Subpoenas | 9.14.22
Sep 14, 2022
Inflation rates shock economists, triggering a stock market downturn and discussions on potential interest rate hikes. The Justice Department intensifies its inquiry into the January 6th Capitol riot, issuing subpoenas to former Trump aides. A whistleblower from Twitter reveals alarming security flaws and issues regarding data privacy. Meanwhile, controversies swirl around Twitter's leadership as Elon Musk's buyout offer gains momentum, alongside updates on labor disputes and notable criminal cases.
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Stubborn Inflation
- August inflation remained high at 8.3%, exceeding predictions and impacting markets.
- Food prices saw the largest increase since 1979, while energy costs also surged.
DOJ Investigation Widens
- The DOJ seized phones and issued subpoenas related to the January 6th investigation, targeting Trump's inner circle.
- This separate investigation from the Mar-a-Lago document search might examine both election interference and the Capitol riot.
Twitter Whistleblower Testimony
- Twitter whistleblower Peter Zatko testified about security risks and a Chinese agent on the payroll.
- He alleges Twitter prioritized foreign regulators over the FTC due to predictable fines.