Seattle Police Chief Resigns 4 Days After Deadly Festival Shooting

Citadel Soars 6% In July Thanks To Situational Awareness Firesale Liquidation Some have speculated that one of the most proximal catalysts behind the collapse of Leopold Aschenbrenner's $45 billion and epically misnamed Situational Awareness hedge fund, besides his use of batshit insane Total Return Swap leverage that would make an average Korean momentum-chasing degen blush with envy, was Citadel's vocal warning early last week that the Fed would/should hike rates, a contrarian appeal which, while not taken seriously by any Fed watcher, may have spooked markets to the necessary and...

AI Geniuses Are Decidedly Not Policy And Economic Geniuses Authored by David McGarry via RealClearMarkets, Geniuses are an odd species. To paraphrase Montesquieu, the exceptional are often also a bit loony. Cornelius Vanderbilt, a devotee of spiritualism, believed himself to have communicated with the spirit of George Washington. To improve his health, Henry Ford devoured weeds, and Thomas Alva Edison was averse to bathing. The point: geniuses are an odd species, who, for all the indispensability of their works to American prosperity and innovation, ought not be trusted credulously. Today in...

US Industrial Production Rises For 4th Straight Month In February After a strong gain in January, US Industrial Production continued to expand in February, rising 0.2% MoM (better than expected +0.1%) - the fourth straight month of gains with Production up 1.44% YoY... Source: Bloomberg Manufacturing output also beat expectations, rising 0.2% MoM in February. Durable manufacturing output edged up 0.1 percent, with mixed results across categories; the index for motor vehicles and parts posted the largest gain, and the index for machinery posted the largest loss. Nondurable manufacturing output rose 0.2 percent, with...