Market risk rises as Powell faces tough Jackson Hole moment

Dear Reader,

In a groundbreaking move, Governor Greg Abbott of Texas just declared gold and silver as legal tender.

And he’s not the only politician making this historic change…

1 in 5 states have passed similar laws.

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Get all the details right here.

Regards,

Senior Researcher, Stansberry Research

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FTC Chair warns tech firms not to weaken data privacy to comply with EU, UK laws

By Jody Godoy

(Reuters) -The chairman of the U.S. Federal Trade Commission warned Apple, Alphabet, and other technology companies on Thursday that efforts to comply with British and European digital content laws could violate U.S. law if they weaken privacy and data security protections for American users.

FTC Chairman Andrew Ferguson expressed concerns about the EU Digital Services Act, and the UK Online Safety Act, which are aimed at cracking down on illegal and harmful online content, and the UK Investigatory Powers Act.

“Foreign governments seeking to limit free expression or weaken data security in the United States might count on the fact that companies have an incentive to simplify their operations and legal compliance measures by applying uniform policies across jurisdictions,” Ferguson said.

The letters are part of a broader Trump administration effort to push back on foreign regulatory requirements.

On Tuesday, U.S. officials said Britain had dropped its demand for Apple to provide a “backdoor” that would have enabled access to American citizens’ encrypted data. Earlier in August, Reuters reported that the U.S. had instructed its diplomats in Europe to lobby against the Digital Services Act.

Ferguson called tech giants Apple, Alphabet, Amazon, Microsoft, and Meta, as well as smaller companies including X, Signal and Slack to meet with him and discuss how they plan to balance U.S. compliance with competing pressures from abroad.

(Reporting by Jody Godoy in New York)

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Market risk rises as Powell faces tough Jackson Hole moment

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FTC Chair warns tech firms not to weaken data privacy to comply with EU, UK laws

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