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World Economic Forum: “Professional services company Accenture describes the arrival of large language models (LLMs) such as ChatGPT-4 as “a significant turning point and milestone in artificial intelligence … [because] they’ve cracked the code on language complexity”. It estimates that 40% of all working hours could be impacted by large language models (LLMs) such as …
“Historical Debt Outstanding is a dataset that provides a summary of the U.S. government’s total outstanding debt at the end of each fiscal year from 1789 to the current year. Between 1789 and 1842, the fiscal year began in January. From January 1842 until 1977, the fiscal year began in July. From July 1977 onwards, …
NBER: “Between March 7, 2022, and March 6, 2023, the Federal Reserve increased the federal funds rate by nearly 4.5 percentage points. This led to a $2.2 trillion aggregate decline in the market value of long-term bank assets such as government bonds, mortgages, and corporate loans. These decreases are not fully reflected in banks’ book …
NPR: “Lately, it’s felt like technological change has entered warp speed. Companies like OpenAI and Google have unveiled new Artificial Intelligence systems with incredible capabilities, making what once seemed like science fiction an everyday reality. It’s an era that is posing big, existential questions for us all, about everything from literally the future of human …
Wired – “Recycling was already a mess. Now a study finds that one facility may emit 3 million pounds of microplastics a year. The plastics industry has long hyped recycling, even though it is well aware that it’s been a failure. Worldwide, only 9 percent of plastic waste actually gets recycled. In the United States, the rate …
Bank Regulation: Preliminary Review of Agency Actions Related to March 2023 Bank Failures. GAO-23-106736 Published: Apr 28, 2023. Publicly Released: Apr 28, 2023. “Risky business strategies along with weak liquidity and risk management contributed to the recent failures of Silicon Valley Bank and Signature Bank. In both banks, rapid growth was an indicator of risk. …
New York Fed – Liberty Street Economics, Hyeyoon Jung: “A growing number of climate-related policies have been adopted globally in the past thirty years (see chart below). The risk to economic activity from changes in policies in response to climate risks, such as carbon taxes and green subsidies, is often referred to as transition risk. …
Jefferson Pooley. The Scholarly Fingerprinting Industry Amerikastudien/American Studies 68, no. 1 (2023): 18–21. https://doi.org/10.33675/AMST/2023/1/41. 18 Amst 68.1 (2023): 5-26 “Elsevier, Taylor & Francis, Springer Nature, Wiley, and SAGE: Many researchers know that the five giant firms publish most of the world’s scholarship. Fifty years of acquisitions and journal launches have yielded a stunningly profitable oligopoly, …
Quartz: “The bank regulator wants Congress to lift the deposit insurance cap for business payroll accounts. When it comes to deposit insurance rules, the Federal Deposit Insurance Corporation (FDIC) only wants the US Congress to change what it absolutely must. In a new report issued in the wake of Silicon Valley Bank’s failure, the banking regulator …
WSJ – Restrictions on Wind database and other information channels add to campaign to curb foreign influence: “China’s party-state, long steeped in secrecy, is creating a black box around information on the world’s second-largest economy, alarming global businesses and investors. Prodded by President Xi Jinping’s emphasis on national security, authorities in recent months have restricted …
The New York Times: ‘The Godfather of A.I.’ Leaves Google and Warns of Danger Ahead – For half a century, Geoffrey Hinton nurtured the technology at the heart of chatbots like ChatGPT. Now he worries it will cause serious harm. Gizmodo – AI Will Make Our Society Even More Unequal, Economists Warn – AI threatens …
“The Federal Reserve Board on Friday, April 28, 2023 announced the results from the review of the supervision and regulation of Silicon Valley Bank, led by Vice Chair for Supervision Michael S. Barr. The review finds four key takeaways on the causes of the bank’s failure: Silicon Valley Bank’s board of directors and management failed …
