What we’re reading (2/20)
“After Stunning Setback, Trump Finds Other Ways To Impose Tariffs” (New York Times). “President Trump moved swiftly on Friday to resurrect his punishing tariffs and circumvent a stunning loss at the Supreme Court, ordering a new 10 percent tax on all imports along with other trade actions in a bid to preserve his primary source of economic leverage around the world.”
“Economic Growth Slowed In Fourth Quarter, Hurt By Government Shutdown” (Wall Street Journal). “U.S. economic growth slowed sharply at the end of last year, weighed down by a record-long government shutdown and cooler consumer spending. U.S. gross domestic product—the value of all goods and services produced across the economy—rose at a 1.4% seasonally and inflation adjusted annual rate in the final quarter of last year, the Commerce Department said Friday.”
“OpenAI Forecasts Its Revenue Will Top $280 Billion In 2030” (Bloomberg). “OpenAI is projecting that its revenue will grow at a fast clip in the next few years and exceed $280 billion in 2030, according to a person familiar with the matter. The revenue forecast reflects OpenAI’s strong momentum in subscription sales for its AI software to consumers and businesses. OpenAI also recently began testing advertising for certain users, creating a new potential moneymaker for the company.”
“Egg Prices Have Plummeted. That’s Great News For Consumers — And A Crisis For Farmers.” (CNN Business). “Egg prices have been plummeting. That’s great news for American shoppers, but bad news for American farmers. The average price of a dozen eggs at the grocery store is $2.58, according to the Bureau of Labor Statistics. That’s about half of what many consumers were paying a year ago. Bird flocks have been on the rebound after last year’s avian flu outbreak, but that has farmers suddenly selling at a loss.”
“Crime As Proxy For Disorder” (Astral Codex Ten). “The problem: people hate crime and think it’s going up. But actually, crime barely affects most people and is historically low. So what’s going on?”
