TikTok Appeal, Fed Rate Cut, and a Manuscript Thief

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TikTok Heads to SCOTUS

The US Supreme Court has agreed to hear TikTok's challenge to a federal law banning the video-sharing app unless its US operations separate from Chinese parent company ByteDance. Arguments are set for Jan. 10, nine days before the law takes effect.

The high court will review a lower-court ruling upholding the legislation over national security concerns and rejecting TikTok's argument that it violated the First Amendment. Congress enacted the measure in April over concerns from US officials China could access the personal data of Americans using the app, including browsing history, location, and biometrics. TikTok, which became available in the US in 2018 (see timeline), boasts roughly 170 million active US users.

ByteDance said it won't sell its US operations. If banned, federal law will prevent app stores from letting users download or update TikTok, and internet hosting services won't be able to support it. While using TikTok won't be illegal, it could become inoperable. 

Federal Reserve Cuts Rates

Federal Reserve Chairman Jerome Powell announced a quarter-percentage-point cut in benchmark rates yesterday, bringing the range to between 4.25% and 4.5%. The central bank also lowered rate cut projections for 2025, anticipating two cuts, down from four. 

Yesterday’s announcement marks the third and final rate cut of 2024, following a half-point cut in September and a quarter-point cut last month. Since a hiring slowdown in the early fall, the job market appears to have stabilized, reducing the case for aggressive cuts. Inflation has also proved stubborn, with consumer prices up 2.7% year-over-year last month, above the Fed’s 2% target—another reason the central bank appears positioned to slow its pace of interest rate cuts. 

US stock markets saw steep drops (S&P 500 -3.0%, Dow -2.6%, Nasdaq -3.6%) after yesterday’s revised outlook. The Dow experienced its first 10-day losing streak since 1974.

Heard about the Fed, but don't know how it works? Start here.

Syphilis Origins Study

The modern form of the bacteria causing syphilis likely originated in the Americas within the last 8,000 years, according to research published yesterday. The discovery furthers a centuries-long debate around the curable—and now resurgent—condition, countering a long-held belief that the disease arrived in the Americas after European colonization. 

Researchers identified early versions of the affliction-causing microbe, Treponema pallidum, on bacterial DNA extracted from the remains of five sick individuals from pre-Columbian Central and South America. Analysts cautioned the limited number of ancient DNA specimens of the bacteria worldwide minimizes any conclusions from the study, with one scientist suggesting the proto-bacteria may have first traveled with humans from Eurasia to the Americas.  

Syphilis is a sexually transmitted infection that is often initially asymptomatic but can develop into significant brain and cardiovascular issues (watch overview). Roughly 8 million new infections of syphilis occur annually. The infection is treatable with a round of antibiotics. 

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