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Bitcoin, Ethereum, and other cryptocurrencies surged after the latest U.S. inflation data showed a smaller-than-expected rise.

Former OpenAI Chief Tech Officer Mira Murati’s AI startup, Thinking Machines, is looking to raise a massive $2 billion seed round, according to Business Insider. If true, it’s a jarring number that could reframe the debate about the AI boom.

NEW YORK (Reuters) -Federal Reserve Bank of Boston President Susan Collins said Thursday that large trade tariffs now being pursued by the Trump administration will almost certainly drive inflation higher and depress growth, at least in the near term. Such an environment presents challenging trade-offs for the central bank on interest rate policy, as it seeks to balance out keeping price pressures steady while buoying the job market, Collins said in the text of a speech prepared for delivery before an event at Georgetown University in Washington. “I see monetary policy as well positioned to address a wide range of potential economic outcomes in this highly uncertain environment,” Collins said.

NEW YORK (Reuters) -Federal Reserve Bank of Chicago President Austan Goolsbee said Thursday high levels of uncertainty amid very aggressive trade tariffs argues for a wait-and-see approach to monetary policy, amid signs the U.S. government bond market is holding up under a period of high stress. The bar for action on monetary policy "is a little higher" at the moment as central bankers scour the data to see how the economy is reacting to actions taken by the Trump administration to make a wide range of import prices sharply higher. Goolsbee noted that the tariffs pursued by President Donald Trump, even as they've been pulled back, are still very high and will impact the economy in a way that's hard for monetary policy to deal with.

(Bloomberg) -- The US slashed its forecasts for global oil demand growth and domestic crude production as US President Donald Trump’s tariff moves puts a cloud over the economic outlook.Most Read from BloombergMidtown Office Building Evacuated on Concerns of Wall CollapseIn Chicago, a Former Steel Mill Looks to Make a Quantum LeapThe Secret Formula for Faster TrainsHelicopter Crashes Into Hudson River With Multiple FatalitiesInside the Quiet, Extravagant Expansion of the Frick CollectionGlobal o

(Bloomberg) -- Mexico central bank members see odds of a weaker economy this year due in part to US tariff uncertainty, an outlook that incorporates greater chances of recession but can help tame inflation.Most Read from BloombergMidtown Office Building Evacuated on Concerns of Wall CollapseIn Chicago, a Former Steel Mill Looks to Make a Quantum LeapThe Secret Formula for Faster TrainsHelicopter Crashes Into Hudson River With Multiple FatalitiesInside the Quiet, Extravagant Expansion of the Fric

President Donald Trump's pause on some announced import taxes may have eased the stress building in financial markets for now, but leaves in place the same set of circumstances that had reset the U.S. economic outlook with rising recession risks and potentially rising inflation. Major tariffs on China, Mexico and Canada remain in place, accounting for the bulk of U.S. imports, and the public, investors and the U.S. Federal Reserve now have three more months of uncertainty around where a disruptive debate will settle. With the stage set for a downturn in confidence that Fed officials already worry is sidelining spending and investment, policymakers this week said they continued to view the tariffs as a blow to economic growth that also raised the risk of higher inflation and leaves monetary policy at a difficult crossroads.