The Federal Reserve kept borrowing costs at a 23-year high yesterday and Terraform Labs agreed to pay $4.47 billion in a lawsuit brought by the U.S. Securities and Exchange Commission (SEC). In addition, technology corporations are fighting against a proposed California law to introduce a “kill switch” for AI models.
Mentioned on this podcast:
Fed officials only signal a rate cut before the tip of 2024
Silicon Valley in uproar over California AI safety law
US inflation falls to three.3% in May, boosting markets
Terraform Labs must pay $4.5 billion in SEC fraud case
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional support is provided by Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our sound engineer is Monica Lopez. Our intern is Prakriti Panwar. Topher Forhecz is the FT's executive producer. The FT's global head of audio is Cheryl Brumley. The show's theme song is by Metaphor Music.
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