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The podcast covers the Federal Reserve's decision to maintain borrowing costs, Terraform Labs settling a SEC case for $4.47bn, and tech companies opposing a proposed AI 'kill switch' law in California. Fed officials hint at a single interest rate cut by 2024, US inflation drops to 3.3% in May, and Silicon Valley reacts to the AI safety bill.
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- Fed signals only one interest rate cut by end of 2024, showing cautious approach to borrowing costs.
- Silicon Valley resists California's AI safety bill, fearing innovation constraints and possible startup migration.
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Federal Reserve's Expected Rate Cuts for the Year
The Federal Reserve now predicts a single interest rate reduction in the coming year, revealed through its dot plot during a recent meeting. This forecast marks a shift from previous expectations of multiple cuts, highlighting uncertainty about the trajectory of borrowing costs moving forward. Despite a marginal decrease in the inflation rate as reported in the May CPI, the Fed remains cautious, with Chairman Powell mentioning a mix of views within the committee regarding potential rate adjustments.
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