TikTok's CEO Heads to Washington

WSJ What’s News

The Wall Street Journal

News, Daily News

4.1 • 4.2K Ratings

🗓️ 23 March 2023

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

A.M. Edition for March 23. TikTok CEO Shou Zi Chew is set to testify before a powerful U.S. House committee today, facing skeptical lawmakers as many Republicans in Congress call for an outright ban of the popular app. WSJ tech policy reporter John McKinnon explains Mr. Chew’s likely defense of the company and whether it has any allies on Capitol Hill. Plus, markets whipsaw after Treasury Secretary Janet Yellen said she doesn’t support a blanket guarantee of U.S. bank deposits. Luke Vargas hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	The scientists of today are creating the next big thing.
0:04.6	On the Wall Street Journal's future of everything podcast, get an early listen to what tomorrow
0:08.9	has in store.
0:10.8	Find us wherever you get your podcasts.
0:19.3	Janet Yellen Royals markets, saying she doesn't support a blanket guarantee of bank deposits.
0:25.3	Plus the SEC plans a lawsuit against Coinbase and TikTok's CEO heads to Washington amid calls
0:32.5	to ban the app in the US.
0:35.0	The signs are definitely pointing downward for TikTok in terms of lawmakers' receptivity
0:41.6	to their arguments.
0:42.6	So he's got a very tough road here.
0:45.8	It's Thursday, March 23rd.
0:47.1	I'm Luke Vargas with the Wall Street Journal and here's the AM edition of What's News.
0:52.3	Top headlines and business stories moving your world today.
0:59.3	Investors are looking for direction today after US stocks whipsawed yesterday before ending
1:07.9	the day decidedly lower.
1:10.6	The roller coaster in investor sentiment began when the Fed decided to raise rates by
1:16.6	a quarter point.
1:18.3	Shortly thereafter, Fed Chairman Jerome Powell said we should only expect one more rate hike
1:23.4	this year.
1:24.8	And as for those predicting a rate cut in 2023, he said to expect none whatsoever.
1:31.9	But what really sent stocks lower was Treasury Secretary Janet Yellen's remarks to the Senate
1:37.5	that she isn't considering a blanket insurance of bank deposits.
	...

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