TikTok and flip-flops

Welcome to The Money, where we break down financial news and provide the TL;DR version of how decisions by the Federal Reserve, government and companies impact you.

A potential TikTok ban in the U.S. is all anyone, especially school-aged kids, can talk about. On Wednesday, the House overwhelmingly passed a bill that would give TikTok's Chinese owner ByteDance about six months to divest the U.S. assets of the short-video app, or face a ban.

If the panic feels familiar, it's because we've been here before. In 2020, then President Donald Trump signed an executive order banning TikTok if ByteDance didn't sell it. But then, he lost reelection in 2020 and President Joe Biden issued his own executive order the next year rescinding the ban.

Today, we're back where we started except the roles have changed. Biden says he sell or ban TikTok, but Trump says no.

Meantime, businesses are freaking out because they use TikTok to make money and kids are wondering where they'll share new dance moves. Who can save TikTok? Former Treasury Secretary Steve Mnuchin says he's trying.

Is inflation rising again?

Inflation reports this week show inflation's drop to the Federal Reserve's 2% goal may take longer than markets had expected. Prices consumers and producers pay both rose more than economists had forecasted.

What does this mean for interest rates? Likely, you won't see a decline this spring.

Amazon adds a new sale

The online retailer just announced its first ever Big Spring Sale where users can find deals on seasonally relevant items from outdoor furniture and garden essentials to spring fashion.

From March 20 to 25, customers can score up to half off on various products with Prime members enjoying access to exclusive deals. New deals will be released each day of the nearly weeklong event, according to a news release Thursday.

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