Powell, Fed’s Chair, Unleashes the Bulls
Summary
Beyond that, he told CNBC, “I’m a little skeptical in the context of what the election might mean,” adding that Jay Powell, the Fed chair, “desperately would like to avoid” any suggestion that the central bank’s policy was helping either political party. Regulators are readying a decision on Apple’s efforts to block music services like Spotify from directing iOS users to payment systems outside the App Store to avoid paying hefty fees to the iPhone maker, according to Bloomberg. The United Nations estimates that developing countries will need roughly $5.9 trillion in climate financing this decade to transition to relying on greener energy sources like wind, solar and nuclear. Sultan Al Jaber, COP28’s president and the chairman of Abu Dhabi National Oil Company, hailed the pact, noting “many said this could not be done.” But Adnoc plans to spend at least $150 billion to expand drilling over the next five years. As media publishers spar with technology companies over the use of their content by artificial intelligence systems, OpenAI has reached a potentially transformative deal: a broad licensing pact with Axel Springer, the parent of Politico, Business Insider and Bild, the German newspaper.