Reminiscent of the ‘Greenspan conundrum’, since 18 September 2024 the Federal Reserve has cut short-term interest rates by 100 basis points, while 10-year interest rates have risen by 100 basis points, defying conventional expectations. This column argues that this ‘reverse conundrum’ can be explained by a sharp decline in foreign official demand for US Treasuries […]
As frontier artificial intelligence (AI) models — that is, models that match or exceed the capabilities of the most advanced models at the time of their development — become more capable, protecting them from theft and misuse becomes more critical. Especially important are a model’s weights — the learnable parameters derived by training the model […]
The Los Angeles fires are an emerging catastrophe affecting hundreds of thousands of people, but unless something dramatically different is done, such disasters will become more and more common. So far, the fires have forced hundreds of thousands to evacuate, destroyed thousands of homes, and have resulted in at least five fatalities. Authorities believe the […]