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‘Many’ Fed officials think higher rates will be needed if inflation stays high

WASHINGTON — Many Federal Reserve officials think the central bank will have to lift its key short-term interest rate in the coming months if inflation doesn’t subside, minutes of the Fed’s meeting last month showed. The minutes of the July 28-29 meeting, released Wednesday, don’t provide specifics on how many of the 19 officials supported higher rates. Only 12 of the 19 policymakers vote on the outcome. Officials voted 9-3 at the meeting to keep their key rate unchanged at about 3.6%. Inflation has since showed some signs of cooling, though gas prices have rebounded this ...

The bond market swings back to worries and knocks US stocks lower

NEW YORK (AP) — The relief that swept the bond market just a day earlier disappeared on Thursday as oil prices, worries about high inflation and the U.S. government’s debt kept rising. That helped knock the U.S. stock market to its worst day in three weeks, and Walmart led the way on concerns about its upcoming profits. The S&P 500 fell 0.9% for its fourth loss in the five days since setting its all-time high last week. The Dow Jones Industrial Average dropped 703 points, or 1.3%, and the Nasdaq composite sank 1%. The bond market remains the center of the action after yields ...

Sinking AI stocks pull Wall Street further from its record

NEW YORK (AP) — Wall Street pulled further from its all-time high on Tuesday as AI stocks got back to sinking. The S&P 500 fell 0.7% for a third straight modest loss since setting its all-time high on Thursday. The Dow Jones Industrial Average dipped 116 points, or 0.2%, and the Nasdaq composite sank 1.3%. Leading the way lower were stocks that have been big winners in the boom around artificial-intelligence technology. They’ve been veering up and down this summer on worries that their prices shot too high in the AI frenzy and that the strong demand for memory, processors and other ...

OpenAI introduces ChatGPT for Teens, promising age-appropriate chatbot

SAN FRANCISCO (AP) — OpenAI on Tuesday introduced a version of ChatGPT designed for teenagers — the first generation to grow up with artificial intelligence — who are already using it for schoolwork, questions about daily life and even companionship. The San Francisco-based company says ChatGPT for Teens is tailored for kids ages 13 to 17 with stronger protections including content restrictions around things like suicide, self-harm and romantic or sexual chats. It also provides homework and study support designed to help students learn rather than spit out answers and school ...

US stocks edge further from their record after oil prices rise

NEWYORK (AP) — U.S. stocks edged further from their record heights on Monday after rising oil prices cranked up the pressure on inflation and financial markets. The S&P 500 fell 0.5% but remains near its all-time high set Thursday. The Dow Jones Industrial Average dropped 272 points, or 0.5%, and the Nasdaq composite slipped 0.3%. Wall Street’s losses solidified in the afternoon when oil prices accelerated upward. The price for a barrel of Brent crude, the international standard, rose 2.7% to $90.87. It’s been careening back and forth because of uncertainty about what the war ...

Job candidates feel caught between suits and hoodies

NEW YORK (AP) — The matching blazer and pants Dani McEwen wore to a job interview at an insurance company felt like a smart choice, until she noticed most of the employees had on T-shirts and jeans. “The first thing that went through my mind was that I probably looked like I was trying ...