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Former Treasury Secretary Larry Summers said Ford CEO Jim Farley’s idea of the “essential economy” is a good concept as it doesn’t focus narrowly on just factory work. Amid fears that AI will wipe out large swaths of white-collar work, Farley has highlighted shortages in blue-collar professions, putting the unmet need at about 1 million … Read more
Getting clones taken down can be an exhausting process for developers. Small studios have less time, energy, and resources to dedicate to this process, and they’re at the whims of the digital distribution platforms these games exist on. Wren Brier, Unpacking’s creative director, says that since the game’s release in 2021, developer Witch Beam has … Read more
More than 70 million Americans sweated through the muggiest first two months of summer on record as climate change has noticeably dialed up the Eastern United States’ humidity in recent decades, an Associated Press data analysis shows. And that meant uncomfortably warm and potentially dangerous nights in many cities the last several weeks, the National … Read more
The Solana-based crypto launchpad Pump.fun is the biggest contributor to the memecoin craze. Since its peak at $7 million, Pump.fun’s revenue dropped by 92%. The recent ICO was planned as a three-day event, but all the tokens were sold out in 12 minutes, despite risk warnings from the media. What’s behind the most hype ICO … Read more
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Former Treasury Secretary Lawrence Summers said that bond-market pricing doesn’t amount to a judgment call on what the Federal Reserve ought to do with interest rates, and that it would be a “very serious error” for policymakers to ease next week. “It would have been a grave mistake to have eased already, and would be … Read more
Former Harvard University President Larry Summers assailed President Donald Trump over his deepening attacks on the school, slamming a “wildly extralegal” federal funding freeze earlier this week and warning of government “tyranny.” “This is not an isolated thing, what’s being done to Harvard,” Summers said in an interview Wednesday with Bloomberg Television. “This is part … Read more
Larry Summers was not assuaged by Trump’s tariff pause. The former Treasury secretary under Bill Clinton has a history of making prescient calls on the economy and his views have always carried great weight with policymakers. Over two wide-ranging interviews with Fortune, he spoke candidly about Trump’s recent moves and what he sees happening in … Read more
Former Treasury Secretary Lawrence Summers warned that the U.S. is now likely headed toward a recession, with potentially 2 million Americans put out of work, thanks to the tariff increases now in train. “It’s more likely than not that we’re going to have a recession — and in the context of a recession, we’ll see … Read more
Former Treasury Secretary Larry Summers says President Trump’s tariffs would be a disaster for families and could cost them hundreds of thousands of dollars a year. Summers, who helmed the Treasury Department under former President Clinton, fiercely criticized Trump’s so-called “Liberation Day” tariffs. “Trump’s tariffs are the most expensive and masochistic the US has pursued … Read more
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