In July, inflation rose as expected, driven mainly by higher housing-related costs, as reported by the Labor Department. The consumer price index, which measures prices for goods and services, increased by 0.2% for the month, resulting in a 2.9% inflation rate over the past 12 months. Economists had predicted slightly lower readings, with expectations of
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The rollout of the new Free Application for Federal Student Aid (FAFSA) was nothing short of a disaster, according to many accounts. The Department of Education’s poor planning left some college students in the dark about the status of their aid awards for the fall semester. This failure led to a delay in the launch
Consumers are displaying growing confidence in July regarding the future outlook of inflation, according to a recent report from the New York Federal Reserve. The latest data from the Survey of Consumer Expectations reveals that respondents anticipate inflation to remain elevated in the upcoming year but then gradually decrease over the subsequent years. In particular,
Senator Elizabeth Warren has raised questions about the Tesla board’s handling of CEO Elon Musk’s utilization of company resources for his other ventures, such as SpaceX and xAI. In a detailed letter to Tesla Chairwoman Robyn Denholm, Warren expressed her belief that the board is failing in its fiduciary responsibilities to Tesla’s shareholders by not
In a recent announcement, co-founder of OpenAI, John Schulman, revealed his decision to depart from the Microsoft-backed company and join Anthropic, an artificial intelligence startup with backing from Amazon. This move comes shortly after OpenAI disbanded a superalignment team focused on ensuring human control over AI systems that surpass human capabilities. Schulman, who previously led
Delta Air Lines faced a massive outage last month, resulting in thousands of flight cancellations. Despite the chaos and financial losses, CrowdStrike claimed that Delta rejected their offer of onsite help during this crisis. This rejection came as a surprise, especially considering the scale of the situation and the potential benefits of having expert assistance
The recent announcement by Walgreens to close a significant number of its U.S. stores is just further evidence of the challenges facing pharmacy chains in today’s retail landscape. The traditional role of pharmacy chains as the heart of communities, providing not only prescriptions but also general merchandise, has shifted dramatically over the past couple of
In a surprising turn of events, Defense Secretary Lloyd Austin has decided to withdraw the controversial plea deal that was put forward for the three men accused of planning the 9/11 attacks. The Defense Department made an official announcement regarding Secretary Austin’s decision, stating that he has reserved the authority to enter into pre-trial agreements
The 2024 Olympics in Paris have been proving to be a challenging environment for athletes from all over the world. U.S. gymnastics superstar Simone Biles recently took to Instagram to address the issue of the scorching heat in the French capital. Biles expressed her frustration about the lack of air conditioning on the bus and
The Federal Reserve has been under increasing pressure to consider reducing interest rates as a means of stimulating the economy and preventing a potential recession. Chief economist Claudia Sahm has been an outspoken advocate for gradual interest rate reductions in order to normalize the economy and avoid dragging it into a downturn. Sahm’s Sahm Rule,