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By Kristin Myers, Editor-in-Chief

What's Happening Today

Good morning! It's Kristin with your daily morning digest.

Stocks are rising today after falling yesterday after Federal Reserve Chair Jerome Powell at a conference of business economists made comments that struck a more hawkish tone (in favor of higher rates). Powell said that the central bank could move more aggressively to hike rates if it's needed to help fight inflation.

As we've noted before, higher interest rates can help bring down inflation and make borrowing more expensive. But for investors, comments on interest rates are particularly important, as higher rates can take a bite out of business profits, which could, in turn, affect investor portfolios.

President Joe Biden also warned the private sector of potential cyber attacks from Russia during his quarterly meeting yesterday with the Business Roundtable (an association of CEOs who speak with the government about business interests). Cyber attacks could impact people in the U.S. by exposing sensitive data like financial information or other personal details that could be exploited. During the meeting, President Biden urged businesses to ramp up cyber protections.

- Kristin

Editors' Picks

Biden Sees Risk of Russian Cyberattack on US as Sanctions Bite (Bloomberg)

Top Companies Offering Cyber Insurance (The Balance)

After COVID-19 Made Americans Better Tippers, Inflation Could Change That (The Wall Street Journal)

How The Pandemic Housing Market Spurred Buyer's Remorse Across America (NPR)

Bitcoin Hits $42,000 as World's Largest Hedge Fund To Invest in Crypto (Yahoo Finance)

Ready To Drive 55? Group Proposes Gas-Saving Measures (The Balance)

Is Your Vehicle Registration Tax Deductible? (The Balance)

Common Dealership Fees You Should Not Pay (The Balance)

Off the Charts

A new survey from The Balance on President Joe Biden's Build Back Better (BBB) plan reports that more than half of U.S. adults surveyed think the government should work to stop climate change. Environmental conservation and clean energy were among the 10 most popular BBB proposals in the survey.

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Number of the Day

78% - That's how many economists expect inflation to stay above pre-pandemic levels through 2023, according to a new poll.

Season 2 of the "Money Confidential" podcast is back with "Taxes in Ten," a six-episode mini-season covering your top tax questions. Host and nationally recognized money expert, Stefanie O'Connell Rodriguez, is teaming up with The Balance's very own Editor-in-Chief, Kristin Myers, as well as Caleb Silver, Editor-in-Chief of Investopedia, to talk about everything from doing your own taxes to the specific tax considerations of different life stages. You can listen now to "Taxes in Ten."