CBX Daily 7/23/2024

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CultureBanx Team
July 23, 2024

Today rate cuts bring clearer economic insights, but let’s start with how a data breach uncovers the minorities’ plight…

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The Unseen Consequences Of AT&T's Data Breach On Minority Communities

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AT&T’s (T +0.13%) breach, which facilitated unauthorized access to sensitive information via compromised customer service channels, resonates with a chilling alarm about the dark underbelly of the digital age, where personal data can end up on the dark web at the click of a button. When it comes to data breaches they are often more problematic for people of color living on fixed or low incomes, raising serious concerns about digital equity and cybersecurity going forward. 

ATL Federal Reserve Chief Raphael Bostic Wants A Series Of Rate Cuts

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Atlanta Fed President Raphael Bostic expects the central bank's first interest-rate cut will be the first in a series of moves. Out of the 12 Federal Regional banks, Bostic is one of two Black people on the Federal Reserve’s policy setting committee with a direct say on U.S. monetary policy. Inflation as measured by the Fed’s preferred gauge was 2.7% in April over the previous 12 months, as consumer spending slows fueling his economic train of thought.

Architecture Needs Pop Culture To Increase Diversity

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The field of architecture is a fascinating intersection of creativity, culture, and community. It's a realm where structures are not just bricks and mortar but a reflection of the societies they thrive in. Black people comprise only 1.8% of the National Council of Architectural Registration Boards Certificate population, with Black women holding only 0.4% of all records, according to the NCARB 2023 By The Numbers report. 

Weight Loss Drugs Are On The Come Up In A $44 Billion Market

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Obesity stands as a significant public health issue in the United States, disproportionately affecting racial and ethnic minority communities. Approximately 71 million adults in the U.S., or one-third of the total adult population, were classified as obese. Particularly, the Black community bears the brunt of this health crisis as 49% of adults in this demographic qualify as obese. Over time, pharmaceutical companies have developed anti-obesity drugs, offering a glimmer of hope in a market that’s expected to reach $44 billion by 2030.

How To Economically Rebuild The Caribbean After A Hurricane

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According to a CARICOM analysis of a 2016 IADB report, six Caribbean countries would require an investment of $1.8 billion to replace inadequate housing due to impoverished building methods that leave devastating results after a natural disaster. Hurricane Beryl has had a devastating impact on Carriacou, Petite Martinique, and other Caribbean islands which has prompted many to think about what the future holds regarding tangible spaces for communities within the African Diaspora.

Vibes of the Week

These ”F**kin Problems” just seem to multiply for AT&T. Meanwhile, bump into the rap heavyweights A$AP, Drake, Kendrick Lamar and 2Chainz in our CBX Vibes!