Over the past year the Federal Reserve has been steadily raising interest rates to try to bring down inflation. But the recent banking crisis has thrown a wrench into its plans. WSJ’s Nick Timiraos explains how the Fed is now trying to fight two problems at once. Further Reading: - Fed Raises Rates but Nods to Greater Uncertainty After Banking Stress  Further Listening: - What Just Happened at Credit Suisse?  - Can the Government Contain a Banking Crisis?  - The Economy Is Too Hot for the Fed  Learn more about your ad choices. Visit megaphone.fm/adchoices

Former Chinese real-estate developer and outspoken China critic Guo Wengui was arrested by the FBI last week and accused of orchestrating a $1 billion fraud. WSJ’s Aruna Viswanatha unpacks Guo’s trek from Beijing gadfly to Steve Bannon confidant to fraud suspect. Further Reading: - A Chinese Businessman’s Trek From Beijing Gadfly to Steve Bannon Confidant to Fraud Suspect  - China’s Pursuit of Fugitive Businessman Guo Wengui Kicks Off Manhattan Caper Worthy of Spy Thriller  Learn more about your ad choices. Visit megaphone.fm/adchoices

While campaigning for president, Joe Biden said there would be no new oil drilling on federal land. But last week he approved the Willow project, one of the largest domestic oil projects in years. WSJ’s Andrew Restuccia explains why Biden made the shift. Further Reading: -Biden Administration Approves Willow Oil-Drilling Project in Alaskan Arctic Further Listening: -Why Biden Killed The Keystone XL Pipeline -The War in Ukraine Hits American Gas Prices  Learn more about your ad choices. Visit megaphone.fm/adchoices

TikTok CEO Shou Zi Chew is due to testify before Congress this week, as the Biden administration demands that TikTok’s Chinese owners sell their stakes in the company or face a possible U.S. ban of the app. In this exclusive interview with WSJ’s Stu Woo, the TikTok CEO said a sale won’t solve Washington’s security concerns.  Further Reading: - TikTok CEO’s Message to Washington: A Sale Won’t Solve Security Concerns  Further Listening: - How TikTok Became the World’s Favorite App  - What’s Up With All the TikTok Bans?  Learn more about your ad choices. Visit megaphone.fm/adchoices

Google has been a pioneer in the modern era of artificial intelligence, but lately, it’s fallen behind. WSJ’s Miles Kruppa explains why the tech giant took a more cautious approach to chatbots and what’s at stake now that Microsoft has beaten them to market. Further Reading: -How Google Became Cautious of AI and Gave Microsoft an Opening  Further Listening: -The Company Behind Chat GPT  -When AI Comes for Your Art  Learn more about your ad choices. Visit megaphone.fm/adchoices

As fears about the health of global banks spread from the U.S. to Europe, the bank Credit Suisse said it would tap a more than $50 billion loan from the Swiss National Bank. WSJ’s Margot Patrick explains how Credit Suisse became a cause for concern. Further Reading: - Credit Suisse Stock Price Jumps as Bank Secures $50 Billion Lifeline  - Credit Suisse Promises Overhaul in Wake of Rout as Regulators Offer Lifeline  - Janet Yellen Says Banking System Is Healthy After SVB Collapse  Further Listening: - Can the Government Contain a Banking Crisis?  - The Economy Is Too Hot for the Fed  Learn more about your ad choices. Visit megaphone.fm/adchoices

Since February of last year, the avian flu has led to the deaths of tens of millions of farm-raised birds in the U.S., the deadliest outbreak on record. WSJ’s Patrick Thomas on how the egg industry is getting slammed and what companies are doing to try to save their flocks.   Further Reading: - America Is Losing the ‘Epic Battle’ Against Bird Flu  Learn more about your ad choices. Visit megaphone.fm/adchoices

WeightWatchers is buying digital health company Sequence to capitalize on the hot market for diabetes and weight loss drugs including Ozempic and Wegovy. WSJ's Andrea Petersen explains what this could mean for the wellness industry. Further Reading: -WeightWatchers Moves Into the Ozempic Market With Telehealth Deal  -How a Diabetes Drug Became the Talk of Hollywood, Tech and the Hamptons  -Health Startups Offer Diabetes Drugs Like Ozempic for Weight Loss With Little Oversight  Learn more about your ad choices. Visit megaphone.fm/adchoices

When Silicon Valley Bank imploded last week, it was the second biggest bank failure in U.S. history. Then, over the weekend, another bank, Signature Bank, was also taken over by the government. WSJ financial editor Charles Forelle explains what kicked off this banking crisis and how the government is scrambling to contain it. Further Reading: - How Silicon Valley Turned on Silicon Valley Bank  - Silicon Valley Bank Closed by Regulators, FDIC Takes Control  - Were SVB and Signature Bank Just Bailed Out by the U.S. Government?  Learn more about your ad choices. Visit megaphone.fm/adchoices

For years, fentanyl has flooded into the American drug market, driving a surge in overdose deaths across the country. Other drugs, like cocaine, are increasingly tainted with the synthetic opioid. We spoke to advocates Theo Krzywicki and Kalie Shorr who say a tiny test strip can help people avoid fentanyl, and WSJ's Julie Wernau explains why fentanyl is showing up everywhere. Further Reading: - Fentanyl Test Strips on the Dance Floor? Partygoers Face New Reality  - Three New Yorkers Ordered Cocaine From the Same Delivery Service. All Died From Fentanyl.  - The Fentanyl Crisis  Further Listening: - Purdue's $4.5 Billion Opioid Settlement Got Thrown Out. Now What?   - States Got Hooked on Tobacco Money. Are Opioids Next?   - Two Days of Reckoning for Opioid Makers   Learn more about your ad choices. Visit megaphone.fm/adchoices

Federal Reserve Chair Jerome Powell told Congress this week that interest rates could go up faster and higher than previously planned. WSJ’s Nick Timiraos explains what’s behind the Fed’s change of strategy, and why it’s struggling to tame inflation.  Further Reading: - Powell Says Data Will Determine Size of Next Rate Increase  - Powell Says Fed Is Prepared to Speed Up Interest-Rate Rises  - Why the Recession Is Always Six Months Away  Further Listening: - Mass Layoffs or Hiring Boom — Which Is It?  - Consumers Are Starting to Freak Out  Learn more about your ad choices. Visit megaphone.fm/adchoices

A new law in Tennessee makes staging adult cabaret anywhere a minor could see it a criminal offense. WSJ’s Laura Kusisto and Steve Raimo, who performs as drag queen Veronika Electronika, on what it could mean for the drag industry.  Further Reading: -Tennessee Governor Signs Bill Restricting Transgender Healthcare for Minors Learn more about your ad choices. Visit megaphone.fm/adchoices

AI-art generators let users create fantastical images with just a few text prompts. But some artists see a problem: They say AI is ripping them off. Artist Greg Rutkowski and WSJ tech columnist Christopher Mims explain what's at stake for the art world. Further Reading: - AI Tech Enables Industrial-Scale Intellectual-Property Theft, Say Critics  - Ask an AI Art Generator for Any Image. The Results Are Amazing—and Terrifying.  Further Listening: - The Company Behind ChatGPT  Learn more about your ad choices. Visit megaphone.fm/adchoices

Three executives who formed Sam Bankman-Fried’s inner circle have now pleaded guilty to fraud charges and agreed to cooperate with prosecutors. WSJ’s Alexander Osipovich on what their plea deals could spell for the FTX founder. Further Reading: - Close Ally of FTX Founder Sam Bankman-Fried Pleads Guilty to Fraud  - How FTX’s Nishad Singh Turned to Crypto Crime  Further Listening: - The Charges Against FTX’s Sam Bankman-Fried  - ‘Do You Expect to Go to Prison?’: An Interview With SBF  - The Fall of Crypto's Golden Boy  Learn more about your ad choices. Visit megaphone.fm/adchoices

Companies like BlackRock have promoted ESG investing in recent years. But WSJ’s Julie Bykowicz says a new conservative nonprofit is pushing lawmakers to ban ESG, equating it with "woke capitalism." Further Reading: - Conservatives Have a New Rallying Cry: Down With ESG - New Conservative Group Gets $1.6 Billion Donation From Chicago Businessman   Further Listening: - Can My Stock Portfolio Save the Planet?  Learn more about your ad choices. Visit megaphone.fm/adchoices

After Russia invaded Ukraine, Western nations hit Russia with massive sanctions. We talk to a resident in Moscow about how his life has changed and WSJ’s Georgi Kantchev on how Russia has responded to the sanctions. Further Reading: - Russian Deficit Soars to $25 Billion on War Spending, Oil Embargo  - Russia Boosts China Trade to Counter Western Sanctions  Further Listening: - Three Ukrainians on Enduring a Year of War  - The Financial Punishment of Russia  - How Putin Has Planned For Sanctions  Learn more about your ad choices. Visit megaphone.fm/adchoices

President Biden’s plans to cancel $400 million in student loans are on hold. On Tuesday, the Supreme Court heard arguments on whether the administration had the legal authority to cancel the debt. WSJ’s Andrew Restuccia discusses the arguments for and against the program, and he explains what the decision could mean for borrowers. Further Reading: - Student-Loan Borrowers Likely Won’t Know for Months if Debt Will Be Forgiven  - Supreme Court’s Student-Loan Case Will Test Limits of Presidential Power  Further Listening: - Breaking Down Student Debt Relief  - How Biden Plans to Tackle Student Debt Learn more about your ad choices. Visit megaphone.fm/adchoices

The Commerce Department is spelling out its plans to subsidize domestic chip production in order to secure the supply of advanced chips needed for America's modern weapons systems. WSJ’s Yuka Hayashi explains the national security interests in play. Further Reading: -Chips Act Is Bounty for Semiconductor Companies—With Many Strings Attached -Pentagon to Reap Rewards From $53 Billion Chips Act -Chips Act Will Test Whether U.S. Can Reverse Semiconductor Exodus Further Listening: -What's Wrong With the Car Market? Learn more about your ad choices. Visit megaphone.fm/adchoices

Earlier this month, a Norfolk Southern train carrying toxic chemicals derailed in Ohio. Concerned about an explosion, authorities evacuated residents and carried out a controlled burn of toxic fumes. Now a report has found the cause of the derailment, but residents say they still have unanswered questions about the environmental impacts. WSJ's Kris Maher reports from East Palestine and Esther Fung discusses what this might mean for the rail industry. Further Reading: - What Happened in the Ohio Train Derailment?  - Ohio Train Derailment: Toxic Chemicals and Distrust Remain in East Palestine  - Train-Car Wheel Bearing Overheated Before Ohio Train Derailment, NTSB Finds  Learn more about your ad choices. Visit megaphone.fm/adchoices

Russia’s war in Ukraine has upended the lives of millions of people. One year into the conflict, we check in with some of the people we have spoken with over the last twelve months to see how their lives have changed. Further Listening: - Russia’s Campaign to Leave Ukraine in the Dark  - One Ukrainian Factory Owner Joins the War Effort  - As Russia Invades, Ukrainians Weigh Fight or Flight  Learn more about your ad choices. Visit megaphone.fm/adchoices