Fed's Williams says inflation too high, targets 2 percent

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Stable Labor Market Keeps Fed on Track to Raise Rates Gradually

The Federal Reserve decided against raising interest rates at its meeting last week, but it is widely expected to move again in December to help tame inflation.

US economy added 165,000 jobs in October, beating expectations

The U.S. economy added 165,000 jobs in October, according to new data from the Bureau of Labor Statistics (BLS). The unemployment rate also decreased slightly to 4.1 percent, the BLS reported. Unemployment has been below 5 percent for more than five years, after soaring to nearly 15 percent in the early stages of the COVID-19...

Democrats rode rural frustration to Senate wins. Now farmers want results

Democrats flipped Senate seats in previously deep-red territory such as Kansas and Texas in part by criticizing Trump administration policies that helped create high diesel and beef costs. Now they're going to be under pressure to deliver for farmers, who want the party to put words into actions once they take control of the House...

Meta, TikTok, Google sue California over child online safety restrictions

Meta, TikTok and Google filed separate lawsuits against California over a new law seeking to tighten restrictions on child social media usage, arguing the legislation violates the companies’ First Amendment rights.  California’s bipartisan “Digital Age Assurance Act,” which goes into effect Jan. 1, bans social media platforms in the Sunshine State from providing “an addictive...

Markets tank after post-Election Day surge

Stocks nosedived Thursday, one day after rallying on the heels of Democrats’ resounding midterm victories. The Dow Jones Industrial Average tumbled by more than 2,100 points from the opening bell and closed down by 1,833 points relative to the end of trading Wednesday. The Nasdaq composite and S&P 500 were respectively down by roughly 1,422...

Markets tank after post-Election Day surge

Stocks nosedived Thursday, one day after rallying on the heels of Democrats’ resounding midterm victories. The Dow Jones Industrial Average tumbled by more than 2,100 points from the opening bell and closed down by 1,833 points relative to the end of trading Wednesday. The Nasdaq composite and S&P 500 were respectively down by roughly 1,422...

Top GOP House lawmakers want Nvidia's Jensen Huang to come to Congress

Republican Reps. John Moolenaar (Mich.), Brian Mast (Fla.) and Rick Crawford (Ark.) sent a letter to Nvidia CEO Jensen Huang on Wednesday, following reports he sent intelligence to China. The GOP lawmakers requested that the CEO appear in a joint, closed-door briefing on Nov. 18 to address concerns regarding Nvidia’s “security protocols against foreign adversary...

Lawsuit claims Google AI chatbot on school Chromebook helped teen prepare suicide plan

Parents are suing technology giant Google, alleging the AI Gemini chatbot offered on school Chromebooks helped a young teen prepare plans for a suicide attempt and her funeral. The lawsuit was filed Wednesday in California Superior Court and claims a 13-year-old girl —dubbed “Emma” — chatted with Gemini over the course of several months, prompting...

Sean Casten launches bid for House Financial Services chair

Rep. Sean Casten (D-Ill.) has formally launched a bid to chair the House Financial Services Committee, setting up a challenge to the panel's longtime Democratic leader, Rep. Maxine Waters (D-Calif.). In a letter to his Democratic colleagues Thursday, Casten asked for their support as he seeks the gavel in the new Congress. Democrats are set...

Warren says populist economic messaging drove Democratic victories

Progressive Sen. Elizabeth Warren (D-Mass.) on Thursday chalked up Democrats’ resounding midterm victories to populist messaging on the economy. “Anyone seeking to understand the midterm’s lessons should start here: Democrats won by being populist economic fighters who were unafraid to call out the corrupt politicians and corporate interests who have rigged the system at the...

OpenAI rebrands data centers as 'compute campuses,' unveils new framework

OpenAI unveiled a new framework Thursday for building data centers, which it appears to be rebranding as "compute campuses" following the recent groundswell of opposition to the server warehouses powering the AI boom. The ChatGPT maker said it is committed to paying the full cost of electricity and infrastructure associated with its projects while providing...