Finance

The Fed’s shrinking balance sheet is worrying a key corner of US financial markets

As markets staged a monster rally following the Federal Reserve’s shift toward loosening monetary policy, one corner of the financial system had reason to remain on edge.

In the recent policy meeting, Chair Jerome Powell conveyed a crucial message to those involved in overnight funding markets, which play a significant role in bank borrowing and interest rate determination. The key takeaway was that the Federal Reserve's plan to reduce its balance sheet would proceed as scheduled, carrying more importance than the announcement that led to a surge in stocks and pushed the 10-year US yield below 4%.

TECH

Should we be worried about AI becoming sentient?

A software engineer on Google’s artificial intelligence team was suspended by the company earlier this month. His offense: Sharing confidential information that had led him to believe an AI he had been conversing with had become sentient.

CRYPTO

OpenAI CEO promotes crypto project Worldcoin after fundraising report

OpenAI CEO Sam Altman has doubled down on his vision for cryptocurrency project Worldcoin, following reports the company was seeking $50 million in funding.

Worldcoin says it aims to create a global identity and financial network. More than 2.6 million people have signed up to have their irises scanned by Worldcoin's "orb" devices in exchange for a digital ID and free cryptocurrency.

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