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Fed's Barr says future interest rate hikes 'likely' needed to tame inflation
Federal Reserve Governor Michael Barr said Wednesday the central bank will “likely” raise interest rates again to counter persistent inflation, after it did so last week for the first time in three-plus years. Barr, a member of the rate-setting Federal Open Market Committee (FOMC), said the unanimous decision to raise the benchmark interest rate by...
Would a diesel export ban actually bring down prices?
Experts are skeptical that a diesel export ban would meaningfully reduce fuel prices in the U.S. as the Trump administration sends mixed signals about if it is considering such a move. Analysts interviewed by The Hill said that an outright ban could provide some short-term relief in certain parts of the country, but that in...
10-year Treasury yield spikes to highest point since 2007
The benchmark 10-year U.S. Treasury bond yield again hit a 19-year high on Wednesday, as the market sell-off continues amid the Iran war and rising government debt. The 10-year note closed at 5.11 percent on Wednesday, up roughly 14 basis points from its closing point on Tuesday. The 10-year bond yield peaked at more than...
Schools hedge their bets on AI as concerns grow among parents
Schools are struggling to keep up with the evolving world of AI as concerns among parents and advocates mount regarding the use of the technology in classrooms. The two largest school districts in the country have put a one-year moratorium on generative AI usage in the classroom amid worries about privacy and its effect on...
Senators try to 'get to the bottom of' AI-powered surveillance networks amid Flock concerns
A Senate panel held the first Congressional hearing Wednesday on AI-powered surveillance cameras manufacturers, such as Flock Safety, in an attempt to "get to the bottom" of whether the technology infringes on the public's privacy. The hearing — titled "Always Watching: Flock's Nationwide AI Surveillance Network" — was spearheaded by Sen. Josh Hawley (R-Mo), the...
Collins rips report on pay-for-play allegations: 'Partisan hit job'
Sen. Susan Collins (R-Maine) ripped a recent report about an FBI inquiry into an alleged pay-to-play scheme as a "partisan hit job" and "offensive." "I do not understand how anyone would take the word of a felon who's been convicted twice — twice — two separate cases of five counts of money laundering, counts of...
Where Is the U.S. Beating China on A.I., and Where Is It Lagging?
As Xi Jinping visits President Trump in Washington, his country lags behind the United States on A.I. development in key areas — but Beijing has advantages elsewhere.
Zelensky says AI will soon 'decide what happens on the battlefield'
Ukrainian President Volodymyr Zelensky on Wednesday warned that artificial intelligence (AI) could be used in war to "decide what happens on the battlefield." "As early as next year, there is already a real possibility that AI –– not only people –– will begin to decide what happens on the battlefield," Zelensky said in his address...
Economic frustrations chip away at Trump’s rural support: Survey
President Trump’s approval ratings among rural voters are taking a hit as concerns mount about rising living costs across the country, according to survey results published Wednesday. While about half of respondents in the new KFF/Associated Press poll expressed support for the president’s overall job performance, 57 percent said they disapproved of how Trump has...
White House says it's not preparing to ban diesel exports
The White House on Wednesday denied a report that it is planning a 90-day ban on diesel exports as Americans struggle with high fuel prices. The report, from Politico, cites five people familiar with the discussions and says that the legal process for the export ban was still being worked out. In an unsigned statement to...