News
According to CNBC: U.S. Director of Intelligence and Head of Artificial Intelligence Affairs, Clayton, said the U.S. is in talks with 20 to 25 artificial intelligence companies.
According to Fox News, US President Trump will award Elon Musk the highest scientific and technological achievement award in the United States on Thursday.
According to Axios, US President Trump will attend an AI conference on Thursday.
U.S. consumer credit in August was $8.28 billion, below the expected $15 billion and the previous figure revised from $18.062 billion to $17.74 billion.
US President Trump: (Regarding Iran) Their entire country will be completely destroyed. This will be over soon, and then oil prices will plummet.
US President Trump: I love the Polish people. I support their president.
Sources say the BBC and Channel 4 are discussing a broader merger than previously announced, in an effort to cut costs.
[Fed Meeting Minutes: Bank Reserves Remain Ample, Reserve Management Purchases Suspended] The minutes of the Federal Reserve meeting show that, in reviewing the money market conditions between the two meetings, the Open Market Operations Manager noted that money market conditions remained stable, the effective federal funds rate (EFFR) remained stable relative to the interest rate on outstanding reserves (IORB), and repurchase rates were on average slightly below the IORB rate. Decreased demand for repurchase financing from dealers due to reduced securities inventories also pushed repurchase rates lower. While Treasury bill issuance has increased significantly since July, market absorption has been good, with limited impact on money market rates. The Operations Manager noted that bank reserves appear to remain within a range consistent with ample reserve supply. Taking into account money market conditions, the Open Market Operations Department's forecasts of reserve supply, and its assessment of reserve demand, the Department has suspended reserve management purchases (RMPs). The Operations Manager emphasized that there is no predetermined path for the implementation of RMPs, and the Department will continue to make decisions monthly to ensure that reserves remain within an ample range.
The Federal Reserve meeting minutes showed that Fed staff expect overall inflation to decline for the remainder of the year, driven by lower retail gasoline prices, while core inflation is also expected to decline slightly. Inflation is projected to gradually decline over the next two years, reaching 2% in 2029, as the impacts of tariffs, geopolitical tensions, and AI development are expected to gradually diminish. Staff's inflation projections for 2026-2028 are slightly higher than those from the July meeting. GDP growth is expected to accelerate in the second half of this year and remain above potential growth until 2028, reflecting strong business investment, robust consumer spending, and supportive financial conditions. The unemployment rate is expected to remain below staff's long-term unemployment estimate until 2029. Staff's outlook for economic activity and the labor market is stronger than their projections from the July meeting.
Federal Reserve meeting minutes: The New York Fed intervened in the foreign exchange market on behalf of the U.S. Treasury.
Dell (DELL.N) has launched the XPS 16 Creator Edition laptop powered by NVIDIA (NVDA.O) RTX Spark.
Microsoft (MSFT.O) executive: RTX Spark devices powered by Nvidia (NVDA.O) chips will begin shipping next week.
Microsoft (MSFT.O) executive: RTX Spark devices powered by Nvidia (NVDA.O) chips are faster than Apple's fastest chip in generating images.
US President Trump: Canada wants a deal, but we are not satisfied.
US President Trump: Cooperation with Canada is very difficult.
Microsoft (MSFT.O) executive: The Surface Laptop Ultra will be priced up to $5,899, corresponding to the most powerful model.
US President Trump: If the US stops buying Swiss watches, it will save $40 billion.
US President Trump reiterated that oil prices will fall after the war.
Microsoft's (MSFT.O) new high-end laptop starts at $2,599.
US President Trump: Mortgage rates will drop after the war ends.