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☆ The Fed has paused before. Here’s what happened next
▼ + stars: | 2023-07-25 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +8 min

The Fed had a similar predicament in 2006After raising interest rates 17 consecutive times between June 2004 and June 2006, Fed officials became concerned that they could inadvertently damage the economy if they continued to hike rates. When the Fed met again in September, many officials expressed concerns that raising interest rates after a short, six-week pause would broadcast the wrong message. Lacker continued to be the sole Fed official who favored raising interest rates until his term expired at the end of the year. “It’s pretty easy to believe that the Fed will find that it didn’t raise rates enough and so choose to raise rates somewhat further before stopping and, later on, reducing rates,” he said. Fed officials then opted for a pause in the fall of 1994 and raised rates further in the winter.

Persons: Ben Bernanke, Bernanke, “, ” Michael Moskow, ”, Cathy Minehan, Jeffrey Lacker, Lacker, Jerome Powell, Liu Jie, Athanasios Orphanides, Austan Goolsbee, William English Organizations: New, New York CNN, Federal, Traders, Fed, Committee, Washington , D.C, Bloomberg, Getty, Chicago Fed, Boston Fed, Richmond Fed, Massachusetts Institute of Technology, European Central Bank, Food Forum, Yale University Locations: New York, Washington ,, Xinhua, Chicago

☆ The rise of gig workers is changing the face of the US economy
▼ + stars: | 2023-07-24 | by ( Samantha Delouya | ) edition.cnn.com time to read: +9 min

The number of gig workers is growing and making an impact throughout the economy. But workplace experts say the number of gig workers is growing, and and their impact is being felt throughout the economy. “People who have access to the gig economy borrow less money than people who don’t. Working in the gig economy can help people spend more time searching for their next job, if they've been laid off. “We could do so much better.”Recently, local governments have attempted to bolster platform gig workers’ protections.

Persons: Los Angeles CNN — Lazarus, ”, that’s, Eric Baradat, Louis Hyman, Uber, DoorDash, Jenn Rosenberg, Hyman, “, Erica Groshen, they've, Spencer Platt, Doordash, Susan Houseman, Groshen, we’ve, ” Groshen, they’re Organizations: Los Angeles CNN, Uber, CNN, DoorDash, Getty, of Labor Statistics, Cornell University, “ Society, University of Chicago, IRS, Bureau of Labor Statistics, Massachusetts Institute of Technology, BLS, . Upjohn Institute, Employment Research, North, New York City, Federal Reserve, Federal, System Locations: Hill , North Carolina, “, United States, AFP, DoorDash, Kalamazoo , Michigan, North America, New York, California

☆ AI is supposed to make our jobs easier. These workers disagree
▼ + stars: | 2023-07-22 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +6 min

“In the next few years, the main impact of AI on work will be to help people do their jobs more efficiently,” Microsoft co-founder Bill Gates said in a blog post recently. Big Tech companies are now rushing to jump on the AI bandwagon, pledging significant investments into new AI-powered tools that promise to streamline work. News outlet CNET had to issue “substantial” corrections earlier this year after experimenting with using an AI tool to write stories. Others like Clarke, the publisher, have tried to combat the fallout from the rise of AI by relying on more AI. “You listen to these AI experts, they go on about how these things are going to do amazing breakthroughs in different fields,” Clarke said.

Persons: hasn’t, Neil Clarke’s, Clarke, “, ” Clarke, “ It’s, ChatGPT, Bill Gates, it’s, Shakked, Neil Clarke, Lisa R, Clarke Mathias Cormann, ” Cormann, ’ Ivana Saula, Saula, ” Saula, ”, Gizmodo Organizations: CNN, Microsoft, Big Tech, Massachusetts Institute of Technology, MIT’s Department of Economics, Clarkesworld Magazine, Organization for Economic Co, Development, “ Workers, International Association of Machinists, Aerospace Workers, ” Workers, CNET, Star Locations: Shakked Noy, MIT’s, newsrooms

☆ The Black scientists behind the Manhattan Project, the atomic bomb program that inspired the movie 'Oppenheimer'
▼ + stars: | 2023-07-19 | by ( Yoonji Han | ) www.businessinsider.com time to read: +6 min

There were at least 19 Black scientists and technicians who worked on the Manhattan Project. In the labs, there were at least 19 Black scientists and technicians among the 400 or so scientists employed by the project. The project was unique for bringing together "colored and white, Christian and Jew" for a common cause, Arthur Compton, the Manhattan Project director in Chicago, said. The Manhattan Project did create opportunities for Black Americans' advancements, but many Black workers grappled with Jim Crow segregation. Many Black scientists involved in the Manhattan Project went on to build careers that advanced technology and expanded opportunities for other Black scientists.

Persons: Jim Crow, Robert Oppenheimer, Enrico Fermi, Arthur Compton, —, Franklin D, Roosevelt, William Jacob Knox , Jr, Knox, Jesse Ernest Wilkins, Wilkins, Jasper Jeffries, Carolyn Parker, Samuel Proctor Massie, Moddie Daniel Taylor, Jeffries —, Szilard, Truman, Du Bois, Langston Hughes Organizations: Manhattan, Americans, Service, Manhattan Project, Black Americans, Black, Bilderwelt, Chicago Defender, Atomic Heritage Foundation Black, Massachusetts Institute of Technology, Columbia University, University of Chicago's, University of Chicago, Met Lab, Atomic Heritage Foundation, MIT Locations: Wall, Silicon, Germany, New York City, Chicago, Government, Hanford, Manhattan, Negros, Japan, Hiroshima

Unlike past tech booms that have touched San Francisco, the generative AI craze brings fewer jobs, because AI firms excel at staying lean and automating work. "I think we should curb our optimism that San Francisco commercial real estate will bounce back because of AI," said Silicon Valley investor Jeremiah Owyang. Eleven of the country's top 20 AI companies are in San Francisco and have raised $15.7 billion collectively between 2008 and 2023. That amount is just 2.3% of the estimated 150,000 daily workers that downtown San Francisco lost during the pandemic. Reporting by Anna Tong in San Francisco; Editing by Sayantani Ghosh, Anna Driver and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlos Barria, San, Jeremiah Owyang, Erin Price, Wright, OpenAI, Matt Schlicht, Mike Grabowski, Grabowski, Owyang, Lee Edwards, Daron Acemoglu, Anna Tong, Sayantani Ghosh, Anna Driver, Matthew Lewis Organizations: Intelligence, REUTERS, FRANCISCO, Reuters, Francisco, San Francisco Mayor London Breed's, San, Microsoft, Octane, Google, Nordstrom, Massachusetts Institute of Technology, Thomson Locations: San Francisco, California, U.S, Valley, NFX, Dubai

☆ Climate change is making our oceans change color, new research finds
▼ + stars: | 2023-07-12 | by ( Jack Guy | ) edition.cnn.com time to read: +4 min

CNN —The color of the ocean has changed significantly over the last 20 years and human-caused climate change is likely responsible, according to a new study. They analyzed color variation data from 2002 to 2022 and then used climate change models to simulate what would happen to the oceans both with additional planet-heating pollution and without. The color changes matched almost exactly what Dutkiewicz predicted would happen if greenhouse gases were added to the atmosphere – that around 50% of our oceans would change color. Dutkiewicz, who has been running simulations that showed the oceans were going to change color for years, said she is not surprised at this finding. Dutkiewicz told CNN it was difficult to say whether color changes could become visible to humans if the process continues.

Persons: Artur Widak, Stephanie Dutkiewicz, Dutkiewicz, ” Organizations: CNN, National Oceanography Center, Massachusetts Institute of Technology, MIT’s Department of, Planetary Sciences, Center for Global, Aqua

Threads is integrated into Instagram, giving it potential access to roughly two billion monthly active users. Threads isn’t available in the European Union, where privacy watchdogs have long been concerned with how Meta handles users’ information. Being big doesn’t run afoul of antitrust law. Leveraging them to enhance the quality of Threads would not in and of itself violate antitrust laws, Mr. Melamed said. “The Threads example shows that big tech companies can also be valuable entrants, bringing new competitive pressure,” Mr. Francis said.

Persons: Nancy Rose, DealBook, ” Ms, Rose, ”, Doug Melamed, Melamed, “, Daniel Francis, Mr, Francis, — Ephrat Livni Organizations: Federal Trade Commission, European Union, Massachusetts Institute of Technology, Twitter, Stanford Law School, Justice Department, New York University, Competition Locations: ’

☆ John Goodenough, Nobel laureate and battery pioneer, dies at 100
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +2 min

[1/2] John B. Goodenough, 2019 Nobel Prize in Chemistry winner, speaks during a news conference at the Royal Society in London, Britain October 9, 2019. REUTERS/Peter Nicholls/File PhotoJune 26 (Reuters) - Nobel laureate John Goodenough, a pioneer in the development of lithium-ion batteries that today power millions of electric vehicles around the globe, died on Sunday just a month short of his 101st birthday. In recent years, Goodenough and his university team had also been exploring new directions for energy storage, including a “glass” battery with solid-state electrolyte and lithium or sodium metal electrodes. Goodenough also was an early developer of lithium iron phosphate (LFP) cathodes as an alternative to nickel- and cobalt-based cathodes. After completing a bachelors in mathematics at Yale University, Goodenough received an masters and a PhD in physics from the University of Chicago.

Persons: John B, Goodenough, Peter Nicholls, John Goodenough, “, Jay Hartzell, Britain's Stanley Whittingham, Japan's Akira Yoshino, Paul Lienert Organizations: Royal Society, REUTERS, University of Texas, Chemistry, Royal Swedish Academy of Sciences, Yale University, University of Chicago, Massachusetts Institute of Technology, University of Oxford, Thomson Locations: London, Britain, Austin, Jena, Germany, Detroit

☆ Meet the 33-year-old Canadian chemist and the renowned MIT professor who are building the 'electric vehicle of cement making'
▼ + stars: | 2023-06-24 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +10 min

An electric vehicle replaces a combustion engine with an electric motor, and that's what Sublime Systems does in the cement-making process. So he moved to eastern Canada, where they don't have a lot of rabbis," Ellis told CNBC of her father's move. And I think we both sort of gravitate to things that are challenging," Ellis told CNBC. I think the best way we have to get around fossil fuels is to use electrons," Ellis told CNBC. There will be numerous approaches, all of which have challenges and most of which deserve to be tested," Chiang told CNBC.

Persons: Leah Ellis, Ming Chiang, Ellis, Chiang, Sublime, she's, haven't, It's, Leah Ellis Ellis, it's, Mark Mutter, Mutter, Clay Dumas, Dumas, Katie Rae, Rae, Timothy McCaffery, McCaffery, Scott Carmichael It's, I'm Organizations: Sublime Systems, Sublime, CNBC, Battery, Massachusetts Institute of Technology, Bloomberg, Getty, Jamcem Consulting, LowerCarbon, Siam Cement, SCG, American Society for Testing Locations: Texas, South Africa, Israel, Jerusalem, Canada, Houston , Texas, Europe, Boston, Africa

☆ Is the Inflation Battle Won? Not Yet.
▼ + stars: | 2023-06-21 | by ( Jeanna Smialek | ) www.nytimes.com time to read: +2 min

The reason: While less expensive gas and slower grocery price adjustments have helped overall inflation to fall from its four-decade peak last summer, food and fuel costs tend to jump around a lot. Last week, Fed officials sharply marked up their forecast of how high core inflation would be at the end of 2023. They now see it at 3.9 percent, higher than the 3.6 percent they predicted in March and nearly twice their 2 percent inflation target. “Inflation is somewhat more stubborn than we had hoped.”A fresh Consumer Price Index inflation report last week showed that inflation continued to moderate sharply on an overall basis in May. That measure helps to feed into the Fed’s preferred measure, the Personal Consumption Expenditures index, which it uses to define its 2 percent target.

Persons: Biden, ”, Kristin J, Forbes Organizations: Massachusetts Institute of Technology, Bank of England

☆ How Daniel Ellsberg, who died at 92, went from being a disillusioned member of the government-military elite to a hero of anti-war movements
▼ + stars: | 2023-06-17 | by ( Associated Press | ) www.businessinsider.com time to read: +16 min

Daniel Ellsberg, the whistleblower behind the Pentagon Papers, died at 92, his family said Friday. David Halberstam, the late author and Vietnam War correspondent who had known Ellsberg since both were posted overseas, would describe him as no ordinary convert. "Without Nixon's obsession with me, he would have stayed in office," Ellsberg told The Associated Press in 1999. Ellsberg's story was depicted in the 2009 documentary "The Most Dangerous Man in America: Daniel Ellsberg and the Pentagon Papers." He and Marx wedded in 1970, the year before the Pentagon Papers were made public.

Persons: Daniel Ellsberg, Ellsberg, —, — Daniel Ellsberg, Richard Nixon, Julia Pacetti, Dan, Robert S, McNamara, Lyndon Johnson's, John F, Kennedy, David Halberstam, Johnson, Neil Sheehan, Henry Kissinger, Hannah Arendt, Nixon, Nixon fumed, H.R, Haldeman, Matthew Byrne, Gordon Liddy, Howard Hunt, Byrne, Daniel, Harry Truman, nodded, Ellsberg's, Rand, Anthony J, Russo, Robert, Kissinger, Sen, William J, Fulbright, George McGovern of, Marcus Raskin, Ralph Stavins, Sheehan, Raskin, Stavins, didn't, spry, George W, Bush, Obama, Julian Assange, Chelsea Manning, Edward Snowden, Snowden, Patricia Marx, Marx Organizations: Pentagon, Service, Supreme, Defense, Harvard, Democratic, Republican, The New York Times, Washington Post, The Associated Press, National Security, United, U.S, White, Democratic Party's, Washington , D.C, Associated Press, Coast, Rand Corp, Christian Science, Soviet Union overseas, Harvard University, Marines, Ivy League, Defense Department, State Department, Rand, Xerox, Arkansas, Foreign Relations Committee, Institute for Policy, Times, ., Army, New York Times, Massachusetts Institute, Technology's Center for International Studies Locations: Boston, Los Angeles, Vietnam, Indochina, U.S, France's, America, United States, Beverly Hills , California, Washington ,, Saigon, Santa Monica, Chicago, Detroit, Pearl, London, Germany, Japan, Santa Monica , California, George McGovern of South Dakota, Iraq, Afghanistan, Russia

☆ Daniel Ellsberg, who leaked 'Pentagon Papers,' dies at 92
▼ + stars: | 2023-06-16 | by ( Bill Trott | ) www.reuters.com time to read: +7 min

In his later years Ellsberg would become an advocate for whistleblowers and leakers and his "Pentagon Papers" leak was portrayed in the 2017 movie "The Post." Courtesy Daniel Ellsberg Papers, Robert S. Cox Special Collections and University Archives Research Center, UMass Amherst Libraries. Ellsberg secretly went to the media in 1971 in hopes of expediting the end of the Vietnam War. Courtesy Daniel Ellsberg Papers, Robert S. Cox Special Collections and University Archives Research Center, UMass Amherst Libraries. He said he was inspired to copy the "Pentagon Papers" after hearing an anti-war protester say he was looking forward to going to prison for resisting the draft.

Persons: Daniel Ellsberg, Ellsberg, Long, Edward Snowden, Robert S, Henry Kissinger, Robert McNamara, Richard Nixon, Lyndon Baines Johnson, CourtesyDaniel Ellsberg, John F, Kennedy, Lyndon Johnson, Gordon Liddy, Howard Hunt, Snowden, Chelsea Manning, Carol Cummings, Patricia Marx, Bill Trott, Kanishka Singh, Dan Grebler, Diane Craft Organizations: U.S, Wikileaks, University Archives Research Center, UMass Amherst Libraries, Nixon, State Department, Harvard, Marine Corps, Pentagon, RAND Corporation, Ellsberg's, Chiefs, Staff, RAND, Massachusetts Institute of Technology, New York Times, The Times, Washington Post, Times, FBI, UMass, Libraries, National Security Agency, WikiLeaks, Thomson Locations: Vietnam, Kensington , California, America, Saigon, United States, Boston, U.S, North Vietnam, Cambodia, Laos, American, Chicago , Illinois

☆ Schumer to host first of three senator-only A.I. briefings as Congress considers how to regulate
▼ + stars: | 2023-06-13 | by ( Lauren Feiner | ) www.cnbc.com time to read: +2 min

U.S. Senate Majority Leader Chuck Schumer, Democrat of New York, speaks about China competitiveness legislation alongside Democratic Senate committee chairs at the U.S. Capitol in Washington, D.C., May 3, 2023. Senate Majority Leader Chuck Schumer, D-N.Y., is set to host the first of three educational sessions about artificial intelligence Tuesday as Congress considers how best to regulate the technology. Tuesday's talk is set to offer a general overview of AI and its current capabilities, Schumer said. In the letter, the senators said the three discussions would ask the following questions:Where is AI today? How do the Department of Defense and Intelligence Community use AI today and what do we know about how our adversaries are using AI[?]

Persons: Chuck Schumer, Schumer, Antonio Torralba, Sam Altman, Mike Rounds, Martin Heinrich, Todd Young Organizations: Democratic, U.S, Capitol, Washington , D.C, Senate, Massachusetts Institute of Technology, Lawmakers, Sens, of Defense, Intelligence, CNBC, YouTube Locations: New York, China, Washington ,

☆ Billion-year-old rocks reveal traces of ancient life
▼ + stars: | 2023-06-12 | by ( Kate Golembiewski | ) edition.cnn.com time to read: +6 min

V. Diekamp/MARUM/University of BremenThe evidence of these ancient eukaryotes took the form of biological molecules that they produced. Advances in biochemical analyses have allowed scientists to identify ancient molecules preserved in the fossil record, particularly in old rocks that have been relatively undisturbed by geological processes. In the new Nature study, Nettersheim and his colleagues, including Brocks, a professor of geobiology at the Australian National University, examined rocks from Australia’s Barney Creek Formation. Previous studies established that the Barney Creek rocks, which are more than 1 billion years old, contain traces of ancient biomolecules. But “people never looked, really, for these primordial types of steroids in those kinds of rocks,” Nettersheim said.

Persons: Benjamin Nettersheim, ”, Nettersheim, “, Dr, ” Nettersheim, Jochen Brocks, Konrad Bloch, Bloch, Barney, Susannah Porter, Porter, Roger, ” “ Konrad Bloch, Brocks Organizations: CNN, MARUM Center, Marine Environmental Sciences, University of Bremen, Australian National University, University of California, Massachusetts Institute of Technology Locations: Australia, Nature, geobiology, Germany, MARUM, Santa Barbara

☆ Why the 'Mother of Dragons' at SpaceX left her job building rockets to work on nuclear fusion
▼ + stars: | 2023-06-10 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +9 min

"In one role in particular, my unofficial title was 'Mother of Dragons,'" Dunn told CNBC in an interview in Devens, Massachusetts. But in January 2019, Dunn started work at Commonwealth Fusion Systems, a startup that is attempting to commercialize nuclear fusion as an energy source. Zoom In Icon Arrows pointing outwards The advanced manufacturing facility located at the Commonwealth Fusion Systems campus in Devens, Massachusetts, where magnets are manufactured. "The biggest thing I think about a lot is time, about how fast can we go," Dunn told CNBC. And we have a poster in the back stairwell that says, 'Keep calm and fuse on," Dunn told CNBC.

Persons: Darby Dunn, of, Dunn, Darby Dunn Dunn, I've, Don Quixote, Elon, Elon Musk, it's, Bill Gates, that's Organizations: Commonwealth Fusion Systems, SpaceX, CNBC, International, Commonwealth, Massachusetts Institute of Technology, SPARC, Google, Khosla Ventures, Lowercarbon, ARC, United Nations Locations: Devens , Massachusetts, California, Devens , Mass, Commonwealth

☆ Opinion: Apple Vision Pro augmented reality could change the world
▼ + stars: | 2023-06-09 | by ( Opinion Rizwan Virk | ) edition.cnn.com time to read: +9 min

CNN —It’s not surprising that Apple’s debut Monday of its $3,499 Vision Pro headset integrating virtual and augmented reality was greeted with mixed reactions, including skepticism, criticism and even lampooning. Each previous incarnation of a headset that immerses the wearer in a virtual world (called virtual reality, or VR) or lets wearers see their surroundings with virtual objects overlaid on them (augmented reality, or AR) started with overhyped expectations only to flame out. I am also doing my doctoral research on the history of virtual and augmented reality (known together as “extended reality”). These apps will be available to Vision Pro users as well. It’ll do anything your Mac or iPhone can do — and more.”And that’s why I believe that over time Apple’s Vision Pro will actually make science fiction scenarios of ubiquitous computing a reality.

Persons: Rizwan Virk, CNN — It’s, Rizwan, Tom Cruise’s, ’, Mark Zuckerberg’s, Tiago Amorim, Adrees Latif, I’m, Cathy Hackl, Samantha Kelly, I’d, Bob Iger, Tim Cook, CNN’s Kelly, Ivan Sutherland, Apple, ”, Cook, “, you’ll, Tom Cruise Organizations: Labs, MIT, Physics, Eastern, Arizona State University’s College of Global Futures, Twitter, CNN, Meta, Google, Microsoft, HTC, Samsung, Sony, Reuters, Massachusetts Institute of Technology, Apple, VR, Vision, Disney, Facebook Locations: Brazil, Manhattan , New York

☆ SEC Chair Gensler says crypto frenzy is rife with 'hucksters, fraudsters, scam artists'
▼ + stars: | 2023-06-08 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

Speaking remotely at the Piper Sandler Global Exchange and FinTech Conference in New York City, Gensler said most crypto tokens are securities and come under the purview of the SEC. "The crypto securities markets should not be allowed to undermine the well-earned trust the public has in the capital markets," Gensler said. Thus, crypto security issuers need to register the offer and sale of their investment contracts with the SEC or meet the requirements for an exemption." "Given that most crypto tokens are subject to the securities laws, it follows that most crypto intermediaries have to comply with securities laws as well," he said. Gensler made no reference to allegations by Binance's lawyers that he offered to be an advisor to the crypto exchange in 2019.

Persons: Gary Gensler, Evelyn Hockstein, Piper Sandler, Gensler, Binance, Rich, Rich Repetto, Piper Organizations: . Securities, Exchange Commission, SEC, Banking, Housing, Urban Affairs Committee, Capitol, Reuters, Securities, Exchange, Piper, Piper Sandler Global Exchange, FinTech Conference, Twitter, Massachusetts Institute, Technology's Sloan School of Management Locations: Washington, New York City

☆ Binance lawyers allege SEC Chair Gensler offered to serve as advisor to crypto company in 2019
▼ + stars: | 2023-06-07 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +4 min

SEC Chair Gary Gensler, who is in the midst of a hefty crackdown on crypto companies, offered to serve as an advisor to Binance's parent company in 2019, according to the lawyers for Binance and founder Changpeng Zhao. Before Gensler started going after Binance, he was trying to cozy up to the company, the lawyers say. The Wall Street Journal previously reported on Gensler and Binance's relationship, citing internal Binance messages and a person close to the SEC chair. Zhao's lawyers now say that the Zhao understood that Gensler was "comfortable serving as an informal advisor." Because of Gensler's ties to Zhao, Binance's lawyers said they'd asked for his recusal from any actions regarding the company.

Persons: Gary Gensler, Emanuel Cleaver, Changpeng Zhao, Gibson Dunn, Latham, Watkins, Gensler, Zhao, Biden, Binance, Gibson, Gensler's, they'd, Zhao's Organizations: Financial, Securities and Exchange Commission, SEC, Massachusetts Institute, Technology's Sloan School of Management, Binance, Street, MIT, Financial Services Committee, Facebook, CNBC Locations: Rayburn, Japan, Gensler, UAE

☆ Forward guidance could become trap for central banks-economist
▼ + stars: | 2023-05-31 | by ( Leika Kihara | ) www.reuters.com time to read: +2 min

But by incentivising central banks to commit to keep rates low for long, forward guidance becomes a constraint when they need to swiftly tighten policy to rein in inflation, he said. "Recent experience suggests forward guidance can become a trap," Orphanides said. "Compared to forward guidance, clearer communication of a central bank's reaction function would avoid the trap and improve policy outcomes," he added. BOJ Governor Kazuo Ueda, who was present at the conference, said the very nature of forward guidance meant central banks took the risk of falling behind the curve whenever they were using the tool. Central banks around the world followed in the footsteps of the BOJ in introducing unconventional monetary easing steps, including forward guidance, to combat the 2007-2008 global financial crisis.

Persons: Athanasios Orphanides, Orphanides, it's, Kazuo Ueda, Leika Kihara, Jacqueline Wong Organizations: Bank of Japan, Massachusetts Institute of Technology, U.S . Federal Reserve, European Central Bank, Thomson Locations: TOKYO, Central, United States, Europe

☆ Jeffrey Epstein was invited to editorial meetings with Scientific American's top editor, email records show
▼ + stars: | 2023-05-30 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +4 min

Jeffrey Epstein was invited to editorial meetings with Scientific American's editor-in-chief. Jeffrey Epstein was invited to editorial meetings with Mariette DiChristina when she was the top editor of Scientific American magazine, according to scheduling emails obtained by Insider. Epstein had the opportunity to attend editorial meetings on September 22 and 29. "10:30-11:30am Mariette DiChristina to hold her Editorial Meeting to discuss story ideas (DO YOU WANT TO ATTEND? She will be at this meeting)," Groff wrote in one such email.

Persons: Jeffrey Epstein, Mariette DiChristina, Epstein, Lesley Groff, Groff, didn't, Stephen Kosslyn, Larry Summers, Denzel Washington, Little Saint James, Eva Andersson, Dubin, JP Morgan Chase, Ghislaine Maxwell, Maxwell, DiChristina Organizations: Morning, Scientific, College of Communication, Boston University, Harvard University, Islands, Dubin, Tisch Cancer Institute, Virgin Islands, New York Times, Massachusetts Institute of Technology Locations: New York, Paris, Little Saint, Midtown Manhattan, Virgin, Manhattan

☆ The Goldman Sachs trader known for speaking up about racism is leaving the bank, according to a report
▼ + stars: | 2023-05-30 | by ( Emmalyse Brownstein | Dakin Campbell | ) www.businessinsider.com time to read: +4 min

Frederick Baba is leaving Goldman Sachs months after becoming a partner, Bloomberg reports. The Goldman Sachs executive who spoke out about his experience as a Black trader on Wall Street is leaving the firm, according to a new report. Goldman Sachs declined to comment. After graduating in 2010, he went to work for the Global Electronic Trading Co., known on Wall Street as GETCO. That's part of the virtuous ecosystem of Goldman Sachs," he added.

Tens of billions of dollars of FX and gold reserves have been used up - another sign of systematic micro-management. Depositors have put some $33 billion into depreciation-protected bank accounts in the last two months, bringing the total to $121 billion - almost a quarter of all Turkish deposits. Benchmark international market bonds have fallen back 10%-15% and key FX market volatility gauges that look a year or more ahead have hit record highs. Eyes are now on the FX reserves and the lira as it surpasses 20 to the dollar, the latest major milestone in its long descent. "These weren't seen as cheap assets, they were seen as jewels," MIT's Acemoglu said of the M&A banking boom heyday.

☆ The Optimist’s Guide to Artificial Intelligence and Work
▼ + stars: | 2023-05-20 | by ( Sarah Kessler | Ephrat Livni | ) www.nytimes.com time to read: +2 min

Brynjolfsson and his co-authors of a study compared the call center employees who used the tool to those who didn’t. Customer sentiment was also higher and employee turnover lower in the group that used the tool. “That offers an opportunity to enable more workers to do valuable work that relies on some of that expertise,” he said. tool for some tasks may free up workers to expand their work on tasks that can’t be automated. Of course, there’s no guarantee that workers will be qualified for new jobs, or that they’ll be good jobs.

☆ A Bill Gates-based photovoltaic technology that may be solar energy's future
▼ + stars: | 2023-05-20 | by ( Tim Hornyak | ) www.cnbc.com time to read: +5 min

Solar panels accounted for nearly 5% of U.S. energy production last year, up almost 11-fold from 10 years ago and enough to power about 25 million households. Backers of perovskite-based solar cells say they can outperform silicon in at least two ways and accelerate efforts in the race to fight climate change. Perovskite cells are very thin — less than 1 micrometer — and can be painted or sprayed on surfaces, making them relatively cheap to produce. Backing next-generation climate technologyCompanies around the world are starting to commercialize perovskite panels. CubicPV, based in Massachusetts and Texas, has been developing tandem modules since 2019, and its backers include Bill Gates' Breakthrough Energy Ventures.

☆ Academics weigh in on how BOJ's Ueda can exit easy policy
▼ + stars: | 2023-05-19 | by ( Leika Kihara | ) www.reuters.com time to read: +2 min

At the meeting on Monday, Ueda - himself a Massachusetts Institute of Technology (MIT)-educated academic - said the BOJ will maintain ultra-loose policy as it would take time for inflation to sustainably hit its 2% target, the minutes showed. Keeping long-term interest rates low for too long would also expose Japan to speculative market attack, Kiyotaki said. University of Tokyo professor Tsutomu Watanabe said Japan's inflation expectations have heightened to levels close to those in the United States and Europe, the minutes showed. But Shinichi Fukuda, also an University of Tokyo academic, said achieving wage growth alone won't fix economic woes. "Japan is no longer in a state of deflation thanks to the BOJ's extraordinary monetary easing.

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