2024-08-02

Here’s what it means for U.S. tech firms

The European Union’s landmark artificial intelligence law officially enters into force Thursday — and it means tough changes for American technology giants. The AI Act, a landmark rule that aims to govern the way companies develop, use and apply AI, was given final approval by EU member states, lawmakers, and the European Commission — the executive body of the…

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2024-08-01

Fed holds rates steady and notes progress on inflation

WASHINGTON – Federal Reserve officials on Wednesday held short-term interest rates steady but indicated that inflation is getting closer to its target, which could open the door for future interest rate cuts. Central bankers made no obvious indications, though, that a reduction is imminent, choosing to maintain language that indicates ongoing concerns about economic conditions, albeit with progress. They…

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