The central bank just raised rates for the first time since 2023 to combat "elevated" inflation. In a stark admission, officials now say they don't expect to hit their 2% target until 2029.
The tape Bloomberg Surveillance · Sep 16
“Well, one of the interesting things is they say that this move will result in a timelier move to the 2% target, and yet they push the 2% target out another two years, as they almost always do with these summaries of economic projections, to 2029.”
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Prof G Markets · AI Insiders Keep Saying We’re In Danger — Where’s The Evidence?Sep 16
A safety researcher from Google DeepMind has resigned, stating "we might be running out of time" to prevent an AI catastrophe. He joins a growing chorus of insiders concerned that humanity is delegating decisions to powerful, opaque systems it doesn't understand.
Odd Lots · There's a Mind-Boggling Number of Rich People in AmericaSep 18
A new study reveals how pass-through businesses, from car dealerships to doctors' offices, funnel 70% of their income to the top 1%. This engine of inequality allows owners to capture an ever-larger slice of the economic pie, often paying lower tax rates than their salaried employees.