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Instagram makes a big move, and Yellen's thoughts on interest rates
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0:12- Reels for all
One of the biggest focuses of technology right now is accessibility, and Instagram is looking to make life easier for a wide range of people by adding a new “captions sticker” to their reels and stories feature. This new sticker will automatically scan the audio generated from the video and then convert the speech into closed captioning that can be placed on top of the video. This will not only allow for deaf users to engage with the video, but also normal users who are in situations where they cannot listen to videos out loud.
Yesterday President Biden publicly set a goal to administer at least one covid vaccine dose to 70% of all American adults by July 4th, a date that he has suggested could be the official “reopening” of the country. Currently 56% of all US adults have received at least one dose while 40% are fully vaccinated. To hit this goal, the US will only need to distribute 100M shots over the next two months, which would actually represent a decrease in the current rate.
Taiwan Semiconductor Manufacturing Co (TSMC) is reportedly planning on building up to three additional plants in Arizona beyond the one plant already announced back in May 2020. These plants would most likely be priced similarly to the one already announced, which carries a cost of $12Bn, and would be available for production at roughly the same time—2024.
During a conversation with reporters at The Wall Street Journal’s CEO Council Summit yesterday, Treasury Secretary Janet Yellen refused to suggest that President Biden’s spending plans might cause the federal reserve to raise interest rates, stating, “I don’t think there’s going to be an inflationary problem, but if there is the Fed can be counted on to address it.”
Have a great rest of your day, and we’ll see you tomorrow bright and early!
-The 90 Second News Team
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