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Fed’s Powell: Soft landing unlikely to be celebrated

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Federal Reserve Chair Jerome Powell delivered a sobering message to lawmakers on the U.S. House Financial Services Committee, indicating that any declaration of a “soft landing” for the economy would not come from the Fed.

During testimony before the committee, Powell navigated questions about the upcoming presidential election and steered clear of declaring victory over achieving the sought-after soft landing – characterised by low inflation and low unemployment.

Representative Al Green, a Texas Democrat, queried Powell about the possibility of an official announcement regarding a soft landing, especially in a political climate where competing claims about the economy’s health persist.

Powell’s response underscored the Fed’s cautious stance.

“We are just going to keep our heads down and do our jobs and try to deliver what the public is expecting from us. We wouldn’t be declaring victory like that.”

This exchange shed light on Powell’s pivotal role in the upcoming presidential race, with both President Joe Biden and former President Donald Trump having appointed him as Fed chair.

The outcome of the election may hinge, in part, on Powell’s decisions regarding monetary policy.

Amidst a climate of political uncertainty, Powell aims to remain neutral and avoid entanglement in partisan disputes.

Regardless of the election outcome, Powell emphasised that the U.S. economy is on a positive trajectory, aligning with the conditions indicative of a soft landing.

Despite indicators suggesting the possibility of a soft landing, Powell refrained from celebrating prematurely.

“That’s the economy that we’re trying to achieve. We’re on a good path so far to be able to get there,” he said.

“But I don’t want to put the label on it. Other people can do that.”

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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AI tracks enigmatic cancers back to origins in new study

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In a groundbreaking development, scientists have unveiled a remarkable AI tool that promises to revolutionise the detection and treatment of metastatic cancers.

These elusive cancers often evade detection until they have already spread to distant organs, posing a significant challenge for diagnosis and treatment. Published in Nature Medicine, the study showcases an AI model developed by researchers at Tianjin Medical University (TMU) in China, led by Tian Fei and Li Xiangchun. Trained on a vast dataset of 30,000 images from 21,000 individuals, the AI model demonstrated an unprecedented accuracy rate of 83% in identifying the origins of metastatic cancer cells found in fluid samples from abdominal or lung regions.

Impressively, the model’s top three predictions included the tumour’s source with a staggering 99% accuracy.

This breakthrough not only surpasses the capabilities of human pathologists but also offers a beacon of hope for the 300,000 people annually diagnosed with cancer at TMU-affiliated hospitals, where approximately 4,000 cases rely on such image-based diagnoses.

By significantly reducing the need for invasive tests and providing timely and accurate predictions, this AI tool could potentially extend the lives of late-stage cancer patients. Faisal Mahmood of Harvard Medical School praises the study’s findings, highlighting the potential of AI as an indispensable assistive tool in healthcare.

Looking ahead, the integration of AI with tissue samples and genomic data holds the promise of further enhancing outcomes for individuals battling metastatic cancers of unknown origins, ushering in a new era of precision medicine and personalised care.

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Surprising Netflix subscriber surge despite price hikes

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Netflix Surpasses Expectations with 9.33 Million New Subscribers in Q1 2024

Netflix stunned analysts and the industry alike with its first-quarter 2024 earnings report, revealing a remarkable surge of 9.33 million paid subscribers, soaring past the anticipated 3.93 million additions and bringing its total subscriber count to an impressive 269.60 million.

This surge follows a record-breaking fourth quarter of 2023, where Netflix added 13.1 million subscribers. Despite this remarkable growth streak, Netflix announced it would cease reporting quarterly subscriber totals from 2025 onward, signalling a significant shift in industry dynamics. Notable contributors to this growth included high-profile releases like the live-action adaptation of “Avatar: The Last Airbender” and “3 Body Problem” by the show-runners behind “Game of Thrones.”

Regionally, the U.S. and Canada saw a growth of 2.53 million paid subscribers, while Europe, the Middle East, and Africa added 2.92 million, Latin America saw an increase of 1.72 million, and the Asia-Pacific market experienced a rise of 2.16 million.

Alongside surpassing subscriber expectations, Netflix exceeded financial projections, reporting a 15% increase in revenue from Q1 2023, with diluted earnings per share of $5.28 on $9.37 billion in revenue.

Looking ahead, Netflix forecasts robust financial performance for Q2, with expectations of $9.49 billion in revenue and diluted EPS of $4.68, aiming for revenue growth of 13% to 15% for the full year 2024, reflecting a bullish outlook on its operational margin.

 

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Why are Americans moving abroad?

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Inflation and the rising cost of living in the United States is motivating Americans to consider moving to other countries.

Have you ever dreamed of working or retiring abroad?

Well, more and more Americans are discovering that their income can stretch much further in other countries, allowing them to save more, pay off debts, and even get ahead financially.

Kelli Maria Korduck a contributor with Business Insider joins Veronica Dudo to discuss why Americans are deciding that the only way to get ahead is to leave.

#IN AMERICA TODAY #featured #livingabroad #movingabroad #inflation #travel

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