Fed chief: Unlikely with a hike next time
Inflation is still too high. That's what Federal Reserve chief Jerome Powell says at the press conference after the central bank left the key interest rate unchanged.
- Continued success in bringing it down is not a given and the way forward is uncertain, he says.
On the other hand, he sees current monetary policy as continued tightening.
To a direct question, Powell says the next rate change is unlikely to be an increase.
For the Fed to take such action, one must come to the conclusion that the overall picture points to current monetary policy not being enough, he adds.
Wall Street's broad S&P 500 turned around as much as 1.1 percent after the Fed chief's comments before the index fell to close down 0.4 percent.
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The development of AI
Researchers: Universities' AI craze is downright dangerous
Swedish universities are uncritically optimistic about generative AI, and that is both stupid and dangerous, write three researchers at SvD Debatt.
They describe a development where students become dependent on AI models both when it comes to taking in information and drawing conclusions from it, which in turn leads to the students not really being able to do anything of what they were supposed to learn .
"Through this, we become increasingly dependent on technology, and when no one can communicate or function on their own anymore, it starts to cost money and the tech giants get even richer," write the researchers.
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Tiktok ban threatens US influencers: "Knife in the back"
Many American influencers risk losing their main sources of income if the US bans the popular app Tiktok, which has 150 million users in the country, Newsweek reports.
- It's like a knife in the back [...] Without Tiktok, I would never have grown on Snapchat, Instagram or Youtube, says Noah Jay Wood, who has 7.2 million followers, to the newspaper.
India banned the Chinese-owned app a year ago, which may offer a harbinger of things to come, according to France 24. Local platforms had a hard time filling the void, with many opting for American options and now struggling to rebuild their following.
- It is difficult to recreate the success elsewhere, because I have not received the same commitment from followers on any other platform, 30-year-old Kumar, who had more than 1.5 million followers on his dance videos, told France 24.
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