Fed Governor Adriana Kugler to Resign Effective Aug. 8
'It has been an honor of a lifetime to serve on the Board of Governors of the Federal Reserve System,' Kugler said in a statement released by the Fed. 'I am especially honored to have served during a critical time in achieving our dual mandate of bringing down prices and keeping a strong and resilient labor market.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Digital Trends
a minute ago
- Digital Trends
The week in EV tech: Ford's EV gambit and the quiet charging revolution
Welcome to Digital Trends' weekly recap of the revolutionary technology powering, connecting, and now driving next-gen electric vehicles. Ford's next big move may not quite be a moon landing, but it's at least confirmation that the electric vehicle revolution is still underway. Recommended Videos During Ford's latest earnings call, CEO Jim Farley dropped hints about an upcoming major announcement, calling it a potential 'Model T moment.' That's a bold claim—but even if it doesn't completely reshape the auto industry overnight, the automaker's next step could bring electric vehicles to a whole new crowd. At the heart of it: a new EV platform designed for affordability, scale, and range. A bit of history To understand what Ford means by a 'Model T moment,' it helps to look back. When the original Ford Model T launched in 1908, it wasn't just another car—it was a revolution. What made it revolutionary wasn't just the vehicle itself, but how it was built. Henry Ford's introduction of the moving assembly line in 1913 drastically reduced production time and costs. That allowed Ford to slash prices and make the car affordable to the average American. By the 1920s, the Model T had become the first mass-market vehicle, putting the country—and much of the world—on wheels. It's credited with democratizing mobility and transforming American society. If Ford can replicate even a fraction of that impact with its new EV platform, it could be a defining moment for the electric era. Tesla's turn… and missed opportunity? For a while, many thought Tesla would deliver the 21st-century Model T. With its early dominance, tech-forward vision, and charismatic leadership, the EV pioneer seemed destined to democratize electric driving. But somewhere along the way, Tesla's focus shifted. Prices crept upward, affordable models were delayed or canceled, and the brand leaned into performance and luxury over mass-market accessibility. Today, Tesla still leads in range and charging infrastructure—but the affordability race appears to be slipping from its grasp. Chinese manufacturers such as BYD are the uncontested global leaders, even if they're not available in the U.S. But even stateside, a long-promised $25,000 Tesla remains vaporware, while others including Ford and GM are stepping in to fill the space. In short, Tesla may have sparked the revolution, but it's no longer the only one holding the torch. The $25K EV isn't a fantasy anymore Most U.S. EVs today still carry premium price tags, even after incentives. But according to Bloomberg, Ford may be about to change that with a next-gen platform aimed at EVs priced closer to $25,000. If true, that could open the electric floodgates for millions of American drivers who've been stuck on the sidelines. And this platform wouldn't just about one flashy new car: A compact SUV, a small pickup and an entry-level Extended-Range Electric Vehicle, or EREV, are all reportedly in the works. The platform has quietly been developed by a 'skunkworks' team inside Ford—a lean, startup-style unit that's been operating under the radar. If the rumors hold, we could see production kick off as early as 2026. EREV: The best of both worlds? An EREV offers a compelling twist on hybrid technology by using electric power alone to drive the wheels, delivering a quiet, smooth ride without engine noise or gear shifts. When the battery depletes, a small gas engine kicks in—not to drive the car, but to generate electricity and extend range, easing concerns about running out of power. Plus, since EREVs can operate with smaller batteries, they often come at a lower cost, making electric driving more accessible. In a consumer study earlier this year, consulting firm McKinsey found that EREVs could be key to attract drivers hesitant to switch to pure EVs due to concerns over driving range. Ford is not the first automaker trying to ride the trend: Stellantis plans to launch the Ram 1500 Ramcharger in early 2026, and Scout Motors has also promised EREVs pickups and SUVs. In short, EREVs could be the ultimate transition vehicle for folks worried about charging deserts or long road trips. It's not flashy—it's smart. Meanwhile, charging networks are booming Despite a Trump administration freeze on federal EV charging funds, the private sector is keeping the pedal to the metal. According to EV-charging data firm Paren, the U.S. added over 4,200 new DC fast-charging ports in Q2 of 2025 alone—the biggest quarterly jump in history. That's no small feat. It's a sign that the EV ecosystem is thriving, even in a politically chilly climate. Need proof? BP Pulse just opened the largest charging hub in the U.S. at LAX airport. It's got 48 ultra-fast chargers, sleek design, 24/7 access, and it's already serving rental fleets, rideshares, and regular EV drivers alike. It's the kind of high-traffic, high-volume solution that cities across the country are starting to replicate. And that's just one example. Tesla, EVgo, Electrify America—they're all expanding, with more chargers in more places, plus new features like plug-and-charge simplicity and NACS compatibility for non-Tesla EVs. What we're seeing now is a momentum that goes beyond Washington. Automakers are still investing, consumers are still buying, and the charging infrastructure is expanding. So even if Ford's announcement later this month doesn't completely change the game, it's part of a much larger shift that already is. One where EVs become accessible, practical, and—crucially—normal.
Yahoo
30 minutes ago
- Yahoo
Apple might be building its own AI ‘answer engine'
Apple has formed a new team to build a ChatGPT-like app, according to according to Bloomberg's Mark Gurman. This team — reportedly called Answers, Knowledge, and Information — is working to build an 'answer engine' that can respond to questions using information from across the web. This could be a standalone app or provide search capabilities in Siri, Safari, and other Apple products. Gurman also notes that Apple is advertising for jobs with this team, specifically looking for applicants who have experience with search algorithms and engine development. While Apple has already integrated ChatGPT into Siri, a more personalized, AI-powered update to the voice assistant has been repeatedly delayed. Apple might also have to alter its search deal with Google as a result of the latter company's antitrust defeat. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30 minutes ago
- Yahoo
Suze Orman: 4 Tips To Protect Your Finances in Retirement
Retirement is often viewed with anticipation for many Americans. The daily grind at the office is replaced with thoughts of travel or enjoying hobbies you rarely had time for in your working days. Check Out: Read Next: Unfortunately, financial realities can make those wishes difficult to enjoy, especially in a time where the economy is fraught with uncertainty. In a recent article on her website, personal finance expert Suze Orman shared things retirees must do to protect their finances. Here are four things Orman advised to safeguard your money in retirement. Don't Make Rash Decisions with Your Investment Portfolio The stock market has been full of upheaval in 2025. A key driver to the chaos was President Trump's Liberation Day for tariffs. The S&P 500, for example, was down nearly 19% from recent highs, representing a loss of over $9 trillion in market value, according to CNN. Selling stock holdings during a pullback is understandable, but emotional decisions can betray long-term goals. 'I hope you resisted any urge to sell stock holdings during the worst of the market declines earlier this year. Once you lock in lower values, you can't easily make them up,' said Orman. Locking in losses can be particularly troubling for retirees with limited means to recoup losses, especially for people on fixed incomes. Suze Orman: Reanalyze Your Portfolio It's easy for an investment portfolio to get unaligned during market upheaval. It's best for retirees to review their portfolio at least annually, or when a position has a wild swing, according to Fidelity. Movement this year provides a good opportunity to do this. 'It's also an opportunity to recalibrate your investment strategy,' noted Orman of the stock market in 2025. Retirees may want to decide if they need to make changes or change their overall approach to their portfolio. 'If you were anxious during the market sell-off in the first half of the year, now is a good time to think through whether it is indeed time to reduce your overall allocation to stocks,' added Orman. It's often best to do this with a trusted financial advisor to ensure decisions are in your best interest. Have Enough Cash on Hand A common headwind many retirees face is not having a paycheck come in monthly. This makes having ample cash on hand necessary to face challenges like healthcare costs or other emergencies. Orman broke this down to two categories for retirees: living expenses and emergency funds. Current market upswings may be a good time for retirees to make calculated sales to increase cash on hand. 'If you are already retired, I hope you have at least two to three years of living costs in cash. That's how you ride out the next wave of market volatility, and the one after that,' said Orman. This will help retirees avoid selling during future downturns. That's only half of the cash equation, though. 'This cash is in addition to the eight months to one year of living costs you should have to cover emergency savings,' noted Orman. It's best to house all of these funds in a high-yield savings account to maximize interest-earning possibilities. Plan Filing for Social Security Benefits Wisely Taking Social Security benefits as soon as possible is understandable, especially in light of concerns of insolvency. Receiving benefits early can be detrimental, though, as it can lead to receiving significantly less. 'At your full retirement age (age 67 for everyone born in 1960 or later) your benefit will be 30% larger than if you start at age 62. Moreover, if you wait all the way until you turn 70, your benefit will be 76% higher than if you start at age 62,' Orman said in a recent article on her website. Filing for Social Security benefits is a personal decision, so plan for when it's best for you without hindering your long-term goals. Protecting finances in retirement is of utmost importance. You don't want to outlive your savings. Wise planning protects against that and avails retirees more opportunities to live the life they want. More From GOBankingRates 3 Luxury SUVs That Will Have Massive Price Drops in Summer 2025 How Much Money Is Needed To Be Considered Middle Class in Your State? 10 Used Cars That Will Last Longer Than the Average New Vehicle This article originally appeared on Suze Orman: 4 Tips To Protect Your Finances in Retirement Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
