Bessent: ‘Formal Process' for Powell Successor Has Already Started
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
26 minutes ago
- Yahoo
Trump's $100B AI Shockwave: Nvidia Back in China, Coal Back on the Grid
The Trump administration is preparing a full-court press on artificial intelligence, with a major policy address scheduled for July 23 titled Winning the AI Race. It's expected to be Trump's most detailed take on the technology to date. The event is backed by White House AI and crypto advisor David Sacks and his All-In podcast co-hosts. Behind the scenes, a sweeping AI action plan is nearing completionbuilt with heavy industry inputand could soon be cemented by executive order. The blueprint focuses on cutting red tape, expanding energy access for data centers, and getting federal buy-in on a more streamlined, pro-growth regulatory regime. Warning! GuruFocus has detected 4 Warning Signs with NVDA. One of the headline shifts: the U.S. now plans to allow AI chipmakers to resume some exports to China. That includes Nvidia (NASDAQ:NVDA)'s H20 chips, a move seen as a significant win for CEO Jensen Huang, who has been openly critical of prior export bans. Huang met privately with Trump in Washington last week, where discussions reportedly focused on boosting U.S. AI competitiveness. For Nvidia and AMD, this could reopen a multi-billion-dollar channel that had been shut off earlier this year. The reversal comes amid growing concern over China's rapid AI developmenthighlighted by DeepSeek's surprisingly cheap R1 model that raised eyebrows across Wall Street in January. Energy is also taking center stage. With AI data centers projected to more than double their share of U.S. electricity demand by 2035from 3.5% to 8.6%the Trump team is calling for expanded use of coal, gas, and nuclear power. Earlier this year, Trump helped broker a $100 billion data center investment involving SoftBank, Oracle, and OpenAI. Meanwhile, a controversial bid to preempt state AI laws for a decade was ultimately stripped from the recent tax package, but not before it gained vocal support from tech investors like Marc Andreessen and Joe Lonsdale. Taken together, Trump's AI agenda is shaping up to be aggressive, industry-led, and laser-focused on outpacing China. This article first appeared on GuruFocus.
Bloomberg
29 minutes ago
- Bloomberg
Andrew Hale on Trump's Tariff Strategy
Bloomberg Markets Balance of Power Andrew Hale, The Heritage Foundation Trade Policy Senior Policy Analyst, shares his thoughts on President Trump suggesting a 19% tariff on Indonesian goods coming into the US and if this percentage amount will be negotiated before the August 1 deadline. He also talks about whether or not he sees another tariff pause ahead of August. Andrew Hale speaks with Kailey Leinz and Joe Mathieu on the late edition of Bloomberg's "Balance of Power." (Source: Bloomberg)
Wall Street Journal
30 minutes ago
- Wall Street Journal
Trump Tariffs Hit Consumer Prices
President Trump insists there is 'no inflation' as he bludgeons the Federal Reserve to cut interest rates. But denying inflation reality won't make it go away. His tariffs are making it harder for the central bank to do what he wants, as last month's rise in the consumer-price index shows. The Labor Department's consumer-price report Tuesday showed inflation ticked up in June to 0.3% or 2.7% in the last year. Real average hourly earnings fell 0.1% as inflation eroded wage gains. Real average weekly earnings fell 0.4% and 0.6% for production-level workers as hours of work declined, perhaps because of a slowing economy and labor market.
