move that was expected. the cost of borrowing is now at its highest in 16 years, but is the fed finally done with rate hikes? the bbc s samir hussein reports from new york. inflation remain steadily high. to try and get the cost of living back down to more normal levels the federal reserve, america s central bank, has raised interest rates ten times in a little over a year, and now it seems it may be ready to perhaps take a pause. the committee perhaps take a pause. the committee will perhaps take a pause. the committee will take - perhaps take a pause. the committee will take into account the cumulative tightening of monetary policy, the legs tightening of monetary policy, the legs with which it lacks inflation and economic and financial inflation and economic and financial developments. the legs financial developments. the legs we financial developments. the legs. we will make that determination meeting by meeting. determination meeting by meetinu . ., de
a move that was expected. the cost of borrowing is now at its highest in 16 years, but is the fed finally done with rate hikes? the bbc s samir hussein reports from new york. inflation remain steadily high. to try and get the cost of living back down to more normal levels the federal reserve, america s central bank, has raised interest rates ten times in a little over a year, and now it seems it may be ready to perhaps take a pause. the committee will take into account the cumulative tightening of monetary policy, the legs with which it lacks inflation and economic and financial developments. we will make that determination meeting by meeting. the rate rises have slowed economic growth in the united states by making it more expensive to borrow money and inflation is starting to come down, but they have been some unexpected knock on effects of the rate hikes. they played a part in the banking crisis, where three banks collapsed in less than two months. so far, the fed has been
forward peaceful and i want to tell them we are going to engage them, we are going to have a conversation so that together we can build a greater nation. in answer to the public outcry, mps will be debating a revised version of the original bill, which was first read in may. having withdrawn some of the least popular hikes, including a 2.5% yearly tax on vehicles and a 16% vat tax on bread. but for many protesters, this is not enough in the face of the rising cost of living. live to nairobi now and our east africa correspondent merchuma. hello to you. tell us more about this huge shift for the government and what the outlook is now. a, government and what the outlook is now. , ., ., ., is now. a very good morning from nairobi. is now. a very good morning from nairobi. yes, - is now. a very good morning from nairobi. yes, today- is now. a very good morningi from nairobi. yes, today the bill is being debated in parliament, this is a controversial finance bill 2024, and is g
time an association of creative professionals. this time, it s the recording industry association of america accused ai companies of stealing their material and have sought to stop them in court. back in april, some 200 artists, including billie eilish and nicki minaj, signed a letter calling the use of ai in the music industry predatory and saying it should be stopped. staying with artificial intelligence, shares of nvidia fell by around 7% on wall street on monday. the chip firm has lost more than $500 billion in market value since briefly overtaking microsoft as the world s most valuable company last week. nvidia has benefitted from the boom in demand for chips that train and run generative ai models, such as openai s chatgpt. european union regulators have accused apple of breaking rules designed to rein in big tech companies. the european commission, which regulates competition in the eu, said apple s app store squeezes out rival marketplaces. this marks the first time t