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 * **Elon Musk lacks access to SpaceX’s most sensitive government secrets due to concerns over his past drug use, foreign contacts, and the potential risks associated with obtaining higher security clearance**. Trump, however, could bypass traditional security requirements and grant Musk access to classified information, particularly in his new role leading the Department of Government Efficiency, which will evaluate military spending. ([Wall Street Journal](https://www.wsj.com/tech/musk-spacex-security-clearance-secrets-b9774346))
 
-4/ **The Federal Reserve cut interest rates by a quarter-point to a range of 4.25%-4.5%, but signaled fewer rate cuts next year**. Fed officials now expect to make two rate cuts in 2026, and one in 2027. Over the longer term, the committee sees the “neutral” rate at 3%. Although inflation has slowed from a peak of more than 9% in June 2022, policymakers now expect inflation to end 2025 at 2.5% – well above their 2% target. ([Bloomberg](https://www.bloomberg.com/news/articles/2024-12-18/fed-lowers-rates-by-quarter-point-signals-two-cuts-for-2025) / [Wall Street Journal](https://www.wsj.com/economy/central-banking/fed-cuts-interest-rates-again-but-officials-expect-fewer-reductions-in-2025-70562fac) / [CNBC](https://www.cnbc.com/2024/12/18/fed-rate-decision-december-2024-.html) / [CNN](https://www.cnn.com/business/live-news/federal-reserve-interest-rate-12-18-24/index.html) / [New York Times](https://www.nytimes.com/live/2024/12/18/business/fed-interest-rates) / [ABC News](https://abcnews.go.com/Business/fed-expected-cut-interest-rates-meeting-trump-takes/story?id=116862109) / [Washington Post](https://www.washingtonpost.com/business/2024/12/18/federal-reserve-inflation-rate-cut/) / [NBC News](https://www.nbcnews.com/business/economy/federal-reserve-interest-rate-cut-december-2024-much-economy-rcna184586))
+4/ **The Federal Reserve cut interest rates by a quarter-point to a range of 4.25%-4.5%, but signaled fewer rate cuts next year**. Fed officials now expect to make two rate cuts in 2025, and one in 2026. Over the longer term, the committee sees the “neutral” rate at 3%. Although inflation has slowed from a peak of more than 9% in June 2022, policymakers now expect inflation to end 2025 at 2.5% – well above their 2% target. ([Bloomberg](https://www.bloomberg.com/news/articles/2024-12-18/fed-lowers-rates-by-quarter-point-signals-two-cuts-for-2025) / [Wall Street Journal](https://www.wsj.com/economy/central-banking/fed-cuts-interest-rates-again-but-officials-expect-fewer-reductions-in-2025-70562fac) / [CNBC](https://www.cnbc.com/2024/12/18/fed-rate-decision-december-2024-.html) / [CNN](https://www.cnn.com/business/live-news/federal-reserve-interest-rate-12-18-24/index.html) / [New York Times](https://www.nytimes.com/live/2024/12/18/business/fed-interest-rates) / [ABC News](https://abcnews.go.com/Business/fed-expected-cut-interest-rates-meeting-trump-takes/story?id=116862109) / [Washington Post](https://www.washingtonpost.com/business/2024/12/18/federal-reserve-inflation-rate-cut/) / [NBC News](https://www.nbcnews.com/business/economy/federal-reserve-interest-rate-cut-december-2024-much-economy-rcna184586))
 
 5/ **The Senate passed an $895.2 billion defense policy bill that bans gender-affirming care for transgender minors of service members**. The annual National Defense Authorization Act, which sets the policy agenda and authorizes funding for the Department of Defense annually, was approved 85 to 14. Eleven Democrats and three Republicans voted against it. House Speaker Mike Johnson refused to bring the must-pass defense bill to the House floor without a [provision](https://whatthefuckjusthappenedtoday.com/2024/12/11/day-1422/#4-the-house-passed-an-895-2-billion) preventing the military’s health care plan for service members from covering “medical interventions for the treatment of gender dysphoria that could result in sterilization may not be provided to a child under the age of 18.” It now heads to Biden, who is expected to sign it into law. ([New York Times](https://www.nytimes.com/2024/12/18/us/politics/senate-defense-bill-transgender-care-minors.html) / [CBS News](https://www.cbsnews.com/news/senate-ndaa-defense-bill-gender-affirming-care/) / [Washington Post](https://www.washingtonpost.com/national-security/2024/12/18/senate-ndaa-pentagon-transgender-care/) / [CNN](https://www.cnn.com/2024/12/18/politics/ndaa-senate-transgender-provision-defense/index.html))