Core PCE Rises Most In 3 Years; Savings Rate Tumbles As Spending Far Outpaces Income

When it comes to foreign policy, what matters are powerful interest groups. The ordinary voters who pay all the bills don't matter. The interest groups pushing for pro-Israel wars in the Middle East are especially powerful.

AI Is Causing A Tidal Wave Of Job Cuts At Crypto Firms Layoffs are spreading across crypto and fintech — and executives increasingly say AI is part of the reason, according to Bloomberg. Coinbase, PayPal, Gemini, and Crypto.com have all recently cut jobs while emphasizing efficiency and automation. On Tuesday, Coinbase CEO Brian Armstrong framed the shift in stark terms, warning that “the biggest risk now is not taking action” as the company tries to become “lean, fast, and AI-native.” Bloomberg writes that the trend gained momentum after Block, Inc. — the...

Companies Are Starting To Enforce AI Use. Is That A Good Or Bad Thing? Via the AIX Files, Years ago, I was working on the editorial side for what was then a hot new media company, and found myself spending more and more time with Johan, the lead programmer, and his team, asking them a lot of annoying questions as it was all so new – certainly to me. I was standing over Johan’s left shoulder, mesmerized by whatever new video game he was obsessing over that week…when suddenly, out...