Powell’s thoughts: The Federal Reserve can stay patient and wait to see how tariffs and other economic policies of the Trump administration play out before making any changes to interest rates, Chair Jerome Powell said Wednesday. “As that great Chicagoan Ferris Bueller once noted, ‘Life moves pretty fast,’” Powell said in a speech to the Economic Club of Chicago. “For the time being, we are well positioned to wait for greater clarity” on the impact of policy changes in areas such as immigration, taxation, regulation and tariffs. Read more from the AP.
New models: OpenAI is rolling out a pair of new artificial intelligence models that mimic the process of human reasoning to field more complicated coding questions and visual tasks, the latest in a flurry of releases from the company to fend off renewed competition in the US and China. The first model, called o3, spends more time computing an answer before responding to user prompts, aiming to solve more complex multistep problems related to science, math and coding. Read more from Bloomberg. A subscription may be required.
LABI to reschedule event: LABI’s previously announced health care forum with U.S. Sen. Bill Cassidy for Thursday has been canceled “due to the anticipated adjournment of the Legislature this afternoon for the holiday weekend.” Patrick Robinson, with LABI, said over email that the forum would be rescheduled following the regular session.
