New Home Sales Unexpectedly Plunged In May As Prices Surged

Sin(a)tra By Michael Every of Rabobank Sin(a)tra Let’s be Frank: the central banker pow-wow at Sintra had a touch of Sinatra. Fed Chair Warsh belted out “I’ll do it MYYYYYY way,” and everyone else chimed in that they’d had a few regrets about how they’ve run monetary policy and were coincidentally now mentioning them. Markets swooned when Warsh stated the case for Fed independence and that anyone expecting tolerance for inflation above 2% “would be disappointed.” Yet he also sang with an AI autotune. While the current “AI shock” is driving a boom in...

Judge Rules Trump Admin Illegally Retaliated Against Anthropic Over AI Red Lines Via Decrypt.co, In brief Judge Rita Lin granted Anthropic summary judgment on its First Amendment, due process and Administrative Procedure Act claims in a 59-page order. The government conceded Anthropic has no backdoor access to deployed models and is no riskier than any other AI system. Anthropic lost on one count, its claim that Trump's directive to federal agencies exceeded presidential power. A federal judge has ruled that the Trump administration illegally punished Anthropic for publicly refusing to let the military use its Claude LLM...