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Powell won't go quietly
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Plus: AI enters the world of high faith.
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Federal Reserve Chair Jerome Powell said Wednesday that he will remain on the central bank's Board of Governors after his term as chair ends May
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A widely criticized Justice Department investigation into renovations at the Fed's Washington headquarters — dropped only last week — also shaped Powell's calculus. He said he wanted that matter fully closed before departing the board. Federal prosecutors have left open the
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Powell's announcement came on the same day the Fed held its benchmark interest rate steady at a target range of 3.5% to 3.75%, in what is expected to be his final rate decision as chair. Four policymakers broke from the majority, producing a split that CNBC reported was the sharpest internal divide at the Fed in more than three decades.
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"My concern is really about the series of legal attacks on the Fed which threaten our ability to
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No. Powell is trying to keep the Fed independent
</a>
<!--<![endif]-->
<!--[if mso]><a href="https://www.ne16.com/t/10678551/222404108/9683775/1/1009235/?abb9e380=NGYzZmQyODYtMmZhOS00YzdjLWFkYzktMzQyOGNhZmI3ZDBl&f5d63f87=REIlMjAwNC0zMCUyMCUyOFVTJTI5&x=6a786b3c"
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</td>
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</td>
</tr>
</tbody>
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<td align="center" bgcolor="#105C8E" style="text-align:center;-webkit-border-radius:6px;-moz-border-radius:6px;border-radius:6px;font-size:16px;font-family:Arial,Helvetica,sans-serif">
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#105C8E; display: block; " target="_blank">
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<td align="center" bgcolor="#105C8E" style="text-align:center;vertical-align:middle;-webkit-border-radius:6px;-moz-border-radius:6px;border-radius:6px;font-size:16px;font-family:Arial,Helvetica,sans-serif" valign="middle">
<table bgcolor="#105C8E" cellpadding="0" cellspacing="0" style="-webkit-border-radius: 6px; -moz-border-radius: 6px; border-radius: 6px; " width="100%">
<tbody>
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<td align="center" bgcolor="#105C8E" style="text-align:center;-webkit-border-radius:6px;-moz-border-radius:6px;border-radius:6px;font-size:16px;font-family:Arial,Helvetica,sans-serif">
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It's funny and dramatic either way
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<!--<![endif]-->
<!--[if mso]><a href="https://www.ne16.com/t/10678551/222404108/9683776/1/1009235/?abb9e380=NGYzZmQyODYtMmZhOS00YzdjLWFkYzktMzQyOGNhZmI3ZDBl&f5d63f87=REIlMjAwNC0zMCUyMCUyOFVTJTI5&x=ffc7235f"
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<a aria-label="Hollie Adams / Bloomberg via Getty Images" style="color:#105C8E" target="_blank" title="Hollie Adams / Bloomberg via Getty Images">
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<a data-linktext="Meta stock sinks with AI spending potentially reaching $145 billion." data-linktype="Normal" style="color:#105C8E" target="_blank">
Meta stock sinks with AI spending potentially reaching $145 billion.
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Though the company's $56.31 billion revenue beat estimates, the increase in full-year capital expenditure from a previous high of $135 billion rattled investors.
Component costs and additional data-center spending forced the revision.
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<td align="left" class="editor-cell-image td100" colspan="2" style="background-color:#EFEFEF;background-repeat:no-repeat;background-size:auto;vertical-align:middle;width:33.3333%;text-align:left;font-family:Arial,Helvetica,sans-serif;font-size:15px">
<a aria-label="Benjamin Fanjoy / Getty Images" style="color:#105C8E" target="_blank" title="Benjamin Fanjoy / Getty Images">
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<strong style="color: var(--blue-cta-default)">
<a data-linktext="Elon Musk testifies
that OpenAI betrayed its mission." data-linktype="Normal" style="color:#105C8E" target="_blank">
Elon Musk testifies that OpenAI betrayed its mission.
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The billionaire took the stand in Oakland in his civil suit against OpenAI and CEO Sam Altman, arguing the company broke its founding promises by converting to a for-profit. Musk is seeking $130 billion in damages and Altman's removal.
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</td>
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<tr style="background-color:#EFEFEF">
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<a data-linktext="Amazon's cloud growth hits its fastest pace in years." data-linktype="Normal" style="color:#105C8E" target="_blank">
Amazon's cloud growth hits its fastest pace in years.
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Amazon Web Services revenue rose 28% to $37.6 billion, achieving the fastest growth in 15 quarters, as total revenue climbed 17% to $181.5 billion. Capital
expenditures reached $44.2 billion in the quarter, up from $25 billion a year ago.
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</td>
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<td class="td100" colspan="6" height="24" style="background-color:#EFEFEF;width:100%;height:24px;font-size:1px;vertical-align:top;font-family:Arial,Helvetica,sans-serif">
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<tr class="trpad10" style="background-color:#EFEFEF">
<td align="left" class="editor-cell-image td100" colspan="2" style="background-color:#EFEFEF;background-repeat:no-repeat;background-size:auto;vertical-align:middle;width:33.3333%;text-align:left;font-family:Arial,Helvetica,sans-serif;font-size:15px">
<a aria-label="Bloomberg / Getty
Images" style="color:#105C8E" target="_blank" title="Bloomberg / Getty Images">
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<strong style="color: var(--blue-cta-default)">
<a data-linktext="Microsoft's AI business surpasses a $37 billion annual run rate." data-linktype="Normal" style="color:#105C8E" target="_blank">
Microsoft's AI business surpasses a $37 billion annual run rate.
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The figure is up 123% year over
year and complements growth of 40% in Azure and cloud services. Microsoft posted fiscal third-quarter revenue of $82.9 billion, up 18% from the same period a year ago, slightly higher than what Wall Street expected.
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<a aria-label="Justin Sullivan / Getty Images" style="color:#105C8E" target="_blank" title="Justin Sullivan / Getty Images">
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<td class="editor-cell-text td100" colspan="4" style="background-color:#EFEFEF;padding:10px;font-size:15px;font-family:Arial,Helvetica,sans-serif;width:66.6667%;vertical-align:top">
<div style="line-height: 1.4">
<strong style="color: var(--blue-cta-default)">
<a data-linktext="Google Cloud growth helps Alphabet beat first-quarter expectations." data-linktype="Normal" style="color:#105C8E" target="_blank">
Google Cloud growth helps Alphabet beat first-quarter expectations.
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The company's $109.9 billion in revenue topped projections of $107.2 billion, with Cloud revenue surging 63% year over year. Alphabet said Cloud backlog almost doubled quarter on
quarter to more than $460 billion.
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<tr style="background-color:#EFEFEF">
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Over a formal lunch in Washington last year, Anthropic CEO Dario Amodei sat down with two dozen conservative thought leaders to pitch Claude, his company's chatbot, as the most
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The pitch went sideways almost immediately. When attendees asked which ethical code Claude actually followed, whether Christian, Aristotelian, or Nietzschean, Amodei said he wasn't sure.
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The anecdote has been making the rounds in recent weeks, and it captures a question now bedeviling the AI industry. As chatbots move deeper into education, health care, customer
service, and even pastoral care, the companies building them are being forced to answer something philosophers have argued about for millennia: What does good actually mean, and whose version gets coded into the model?
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Anthropic has taken the question more publicly than most of its competitors. The company's constitution says its central aim is to make Claude a "genuinely good, wise, and virtuous agent," and the company has hired philosophers and theologians to work on
the bot's character and interpretability.
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