GoKawiil
Tech News
The US central bank lifted its benchmark interest rate, marking the first increase in three years as it responds to persistent inflation pressures. The move comes as American consumers face rising prices, with fuel costs climbing sharply amid geopolitical tensions in the Middle East.
The Federal Reserve raised interest rates on Wednesday for the first time since 2023, increasing borrowing costs for consumers just as prices for electronics, groceries and housing have been climbing for the past year and a half. Economists note that even if the Fed succeeds in slowing inflation toward its 2% target, existing price increases won't reverse, meaning consumers face a higher cost baseline going forward.
Nvidia CEO Jensen Huang publicly dismissed Anthropic CEO Dario Amodei's proposal for antitrust exemptions that would let AI companies coordinate a slowdown in development, calling it unnecessary. OpenAI CFO Sarah Friar separately said she isn't concerned about pausing AI progress, arguing the intelligence already built is substantial enough to matter even if development stopped now.
Businesses are facing a sharp increase in energy costs, and companies are split on whether to pass those costs to consumers immediately through price hikes or absorb them for now. The divide reflects differing bets on how long the energy cost surge will last and how sensitive customers are to price changes.
The US Senate failed to muster the 60 votes needed to advance the Digital Asset Market Clarity Act, a bill meant to divide crypto oversight between the SEC and CFTC. Democrats blocked the measure over inadequate ethics provisions limiting officials, including President Trump, from profiting off crypto ventures while in office. Bitcoin, Ether, XRP, and Solana all dropped following the vote.
Shoppers looking to save money on smartphones often encounter listings labeled 'pre-owned,' 'used,' or 'refurbished,' terms that sound similar but carry different meanings. A refurbished phone has typically been inspected, cleaned, tested, and repaired with replacement parts as needed, while a pre-owned phone is usually sold as-is without such processing.
Bitcoin, XRP and crypto-linked stocks including Coinbase traded lower in premarket sessions as investors awaited a Senate vote on the Clarity Act, legislation that would establish regulatory rules for digital assets. Market sentiment across the sector has turned cautious ahead of the outcome.
Saudi Arabia closed its East-West pipeline, which can carry 7 million barrels of oil per day and bypasses the Strait of Hormuz, after saying it was damaged by drones launched from Iraq. The closure pushed both U.S. West Texas Intermediate and Brent crude futures up more than 3%, and prompted the postponement of a planned diplomatic meeting between Iran and Gulf Arab states on Hormuz security. The disruption comes as U.S. crude prices had already topped $100 a barrel last week amid escalating Middle East fighting.
Subscribing to eight leading ad-free streaming services now costs about $151 monthly, up from roughly $90 four years ago, according to new pricing data. Apple TV+ has raised prices 200% since its 2019 launch, while Netflix's Premium tier is up 125% since 2013, and price hikes accelerated further with an 11.8% jump over the past year alone.
AAA reported the national average diesel price reached $6.05 a gallon on Friday, up from $5.85 the prior week and $3.70 a year ago, as the conflict between the U.S. and Iran disrupts global fuel supplies. Regular gasoline also rose to $4.29 a gallon, tracking a jump in both Brent and U.S. crude oil above $100 a barrel for the first time in months.
The national average price for diesel in the United States reached $6.05 per gallon on Friday, according to AAA, marking a more than 60% jump from $3.71 a year earlier. Gasoline also climbed to a national average of $4.29 a gallon, while California diesel prices hit $7.98 a gallon. GasBuddy data confirmed diesel had already exceeded the $6 threshold nationwide.
Girl Scouts of the USA has announced two new additions to its cookie lineup for the 2027 season: a cookie made specifically for dogs and an allergy-friendly cookie for human customers. The announcement comes alongside broader changes to how cookies are sold, including expanded online ordering options, as prices continue to climb.