Kevin M. Warsh, the chairman of the Federal Reserve, on Wednesday left open-ended how much more interest rates may have to rise to tame inflation.

BEIJING (AP) — Chinese technology giant Huawei launched new chip technologies in a challenge to global leaders such as Nvidia that highlights the narrowing gap between China and the U.S. in artificial intelligence. Huawei's announcement Thursday at its annual key conference in Shanghai came just days before an expected meeting between U.S. President Donald Trump...

White House adviser Peter Navarro on Wednesday blasted the Federal Reserve's move to raise interest rates, calling it "a bad decision." The central bank’s Federal Open Market Committee (FOMC), led by Fed Chair Kevin Warsh, voted unanimously to increase the central bank’s benchmark interest rate to a range of 3.75 percent to 4 percent. Warsh said this will...

President Trump on Wednesday praised Federal Reserve Chair Kevin Warsh, blaming the board instead for the interest rate increase. “I'm relying on Kevin, but he's got a very tough board,” Trump told reporters after landing in North Carolina. “He's got a board that was put there by a lot of other people.” “I told Kevin,...

The House on Tuesday passed a bill aimed at shielding Americans from increased electricity costs associated with data centers. The bill requires states to consider taking up standards that would force tech companies to shoulder the electricity cost increases associated with large data centers but doesn't actually require them to regulate. The bipartisan Ratepayer Protection Act,...

Trump donor Harold Hamm’s oil company Continental Resources announced a deal Wednesday to drill in Venezuela. Continental signed a memorandum of understanding with Venezuela’s state-run oil company that would allow it to operate in a 126,000 acre-area of the oil-rich Orinoco Belt, according to a press release. "Continental was built to recognize great resource opportunities and...

Sen. Rand Paul (R-Ky.) on Wednesday blocked a request by Sen. John Kennedy (R-La.) to pass legislation that would require tech companies to develop a “kill switch” for superintelligent AI amid fears that it could spin out of control and pose an existential threat to humanity. Paul argued that an “open-ended” government mandate to implement...

Federal Reserve Chair Kevin Warsh said Wednesday the central bank is keeping tabs on rapidly developing artificial intelligence (AI) models. “We care very much about what's happening in artificial intelligence,” Warsh told reporters, after the Federal Open Market Committee raised interest rates by a quarter point. The Fed chair noted he is interested in how...

Federal Reserve Chair Kevin Warsh said Wednesday the central bank is keeping tabs on rapidly developing artificial intelligence (AI) models. “We care very much about what's happening in artificial intelligence,” Warsh told reporters, after the Federal Open Market Committee raised interest rates by a quarter point. The Fed chair noted he is interested in how...

President Trump offered a fiery response to the Federal Reserve’s decision to hike interest rates on Wednesday, demanding instead that rates be quickly and drastically lowered.  "Interest Rates in the United States should be 1%, or less, because we are the Best Credit in the World — BY FAR. Our Country is BOOMING with new...