Economy

The Fed vs. Inflation
Fed official: AI to boost the US economy

Artificial intelligence will benefit the US economy, though the short-term impact of the technology on jobs remains unclear. This was stated by Fed official Kevin Warsh during the annual meetings of the IMF and the World Bank in Bangkok, Reuters reports.

The official’s optimism regarding AI development helped lift Asian stock markets this morning.

High inflation has led the market to price in another interest rate hike before the end of the year. However, Warsh declined to provide any hints ahead of the next rate decision, due in just under two weeks.

“I don’t think it’s appropriate for me to state now what I might do at the meetings we have left this year,” Warsh said, according to the news agency. 

The Defense Boom
Saab launches unmanned underwater vehicle

Saab, the Swedish Armed Forces, and the Swedish Defence Materiel Administration (FMV) have launched a new unmanned underwater vehicle. The test vehicle was developed in less than a year, according to a press release.

“This project demonstrates how new technology can be rapidly translated into practical operational utility,” says Mats Wicksell, head of a business area at the defense group, in a statement.

Following successful sea trials, the project is now moving forward with the development of software, sensors, and autonomous functions. 

The US Election Campaign
Sources: US may ease sanctions on Russian and Iranian shadow fleets ahead of the election

The US is considering easing restrictions on tankers belonging to the so-called "shadow fleet" linked to Russia and Iran. The goal is to drive down soaring diesel prices ahead of the midterm elections in November, sources have told the Financial Times.

Among other measures, the US could allow the sale of blacklisted vessels to legitimate shipping companies and lift the sanctions imposed on them.

Opinion polls indicate that skyrocketing energy prices have caused many voters to turn against Trump’s Republican Party, the newspaper reports.