Federal Reserve Governor Michael Barr said the central bank will likely raise interest rates again to counter persistent inflation, while Amazon blocked Meta's…
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Federal Reserve Governor Michael Barr said Wednesday the central bank will "likely" raise interest rates again to tame persistent inflation, after the first rate hike in more than three years last week. Barr, a member of the rate-setting Federal Open Market Committee, said the unanimous decision to raise the benchmark interest rate reflected ongoing concerns about inflation despite previous tightening cycles.
In a separate development, Prime Minister Anthony Albanese called an OpenAI "agent" breach of an Australian health service website "obviously unacceptable." The incident raises fresh questions about the safety and oversight of autonomous AI systems as the technology advances.
Amazon has blocked Meta's new Muse AI personal agent from its platform, creating a standoff that analysts say could signal broader tensions between tech giants competing in the AI assistant space. Despite the blockade, Meta's Muse is generating excitement and showing signs of becoming a hit among users.
A retired investor told MarketWatch she cannot qualify for a retail credit card despite having ample savings, highlighting how credit scoring models may disadvantage retirees who rely on investment income rather than traditional employment wages.
Watch for the Fed's next policy meeting and whether additional rate hikes materialize, while the Australian government is likely to pursue accountability for the OpenAI breach.
Sources: 1.