Federal Reserve votes to keep US interests rates on hold
Officials at the US Federal Reserve expressed growing concerns that President Trump's tariffs will lead to a fresh bout of inflation and weaken the jobs market as they voted to keep interest rates on hold for the third consecutive meeting.
'Uncertainty about the economic outlook has increased further,' the federal open market committee said at the end of a two-day meeting during which officials agreed unanimously to keep the central bank's benchmark interest rate steady in the 4.25 per cent to 4.5 per cent range.
'The committee is attentive to the risks to both sides of its dual mandate and judges that the risks of higher unemployment and higher inflation have risen,' the statement said.
The US economy overall has 'continued to expand at a
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
15 minutes ago
- Reuters
Breakdown of U.S. tariffs on China since Trump's first term
BEIJING, June 12 (Reuters) - Billions of dollars of Chinese goods have been impacted by additional U.S. tariffs since 2018, initially under the first Donald Trump presidency and later under the Biden administration. Returning to the White House this year, Trump has imposed even more duties on China. The U.S. tariffs range from those imposed under Section 301 of its trade act due to what Washington claims are unfair Chinese trade practices, to duties under Section 232 levied for national security reasons. This year, Trump has imposed another 20% levies on all Chinese goods, saying Beijing has not done enough to stop the flow of fentanyl into the United States. So-called reciprocal tariffs, under which the U.S. will match duties imposed by other countries, have also been levied in a bid to rebalance trade flows. Below are the U.S. tariffs on China effective as of June 12, 2025: In September 2019, the U.S. imposed 15% tariffs on more than $120 billion of Chinese goods under Section 301, which it then halved to 7.5% less than six months later. The 25% U.S. tariffs on $250 billion of Chinese goods under the earlier List 1-3 remain unchanged. In September 2024, the U.S. Trade Representative under the Biden administration announced additional tariffs of 25-100% on 14 product groups following a four-year review of the Section 301 tariff actions. The levies were imposed on strategic Chinese sectors or sectors where the United States has made significant domestic investments. In addition to the above duties, the first Trump administration in 2018 imposed a range of tariffs under Section 232 aimed at restricting goods deemed a threat to national security, including all aluminium and steel imports, shutting most Chinese suppliers out of the U.S. market.
Geeky Gadgets
16 minutes ago
- Geeky Gadgets
NVIDIA DGX Spark : World's First 128GB LLM Mini System with GB10 Grace Blackwell Superchip
What if the future of artificial intelligence wasn't just smarter but also smaller? Imagine a system so compact it could fit into the tightest spaces, yet powerful enough to process vast datasets and deliver real-time insights. Enter the NVIDIA DGX Spark the world's first 128GB Large Language Model (LLM), a new leap in AI technology. By condensing the capabilities of massive AI systems into a sleek, efficient design, this innovation challenges the notion that bigger is always better. Powered by the NVIDIA GB10 Grace Blackwell Superchip, NVIDIA DGX Spark delivers 1 petaFLOP of AI performance. With the NVIDIA AI software stack preinstalled and 128GB of memory, developers can prototype, fine-tune, and inference the latest generation of reasoning AI models from DeepSeek, Meta, Google, and others with up to 200 billion parameters locally In this video, Alex Ziskind explores how the 128GB LLM system is reshaping the AI landscape. From its remarkable balance of power and portability to its ability to tackle complex tasks across industries like healthcare, finance, and logistics, this compact powerhouse is setting a new standard for what AI systems can achieve. You'll discover how its energy-efficient design not only boosts performance but also aligns with sustainability goals, making it a forward-thinking solution for modern challenges. As we unpack its features and applications, one question lingers: Could this be the start of a new era where AI is not just smarter but also more accessible? NVIDIA DGX Spark 128GB LLM Mini Overview Key Features of the 128GB LLM Mini The NVIDIA DGX Spark 128GB LLM system stands out as a new achievement in AI technology. By integrating the capabilities of large-scale models into a compact framework, it addresses the increasing demand for high-performance AI systems that can function effectively in space-limited environments. Its design prioritizes portability without sacrificing computational power, making it an ideal choice for businesses, researchers, and innovators seeking to deploy advanced AI solutions without the need for extensive infrastructure. What sets the NVIDIA DGX Sparkapart is its ability to deliver robust performance while maintaining a compact form factor. This balance of power and portability ensures that it can meet the needs of diverse applications, from real-time data analysis to predictive modeling, all while operating efficiently in constrained spaces. Exceptional Performance for Complex Applications The NVIDIA DGX Spark is engineered to excel in handling complex and data-intensive tasks with remarkable speed and accuracy. Its high-capacity architecture enables it to process vast datasets efficiently, supporting real-time analysis and decision-making. This capability is particularly fantastic for industries that rely on actionable insights to address intricate challenges. Key sectors benefiting from this technology include: Healthcare: Using AI to analyze patient data, support diagnostics, and identify emerging health trends. Using AI to analyze patient data, support diagnostics, and identify emerging health trends. Finance: Enhancing risk assessment, fraud detection, and financial forecasting with precision and speed. Enhancing risk assessment, fraud detection, and financial forecasting with precision and speed. Logistics: Optimizing supply chain operations through predictive analytics and automation. By delivering reliable insights and automating decision-making processes, the 128GB LLM system enables industries to tackle complex challenges with greater efficiency and confidence. World's First 128GB LLM Mini Is Here Watch this video on YouTube. Unlock more potential in Large Language Models by reading previous articles we have written. Efficiency and Sustainability in AI Efficiency is a defining characteristic of the NVIDIA DGX Spark. Its design focuses on optimizing resource utilization to deliver advanced performance while minimizing energy consumption and processing time. This balance ensures consistent, high-speed outputs, making it a practical solution for applications requiring both reliability and sustainability. Examples of its use include: Natural language processing to enhance customer support systems with faster and more accurate responses. Predictive analytics for identifying market trends and improving business forecasting. Personalized recommendation systems in retail to improve customer engagement and satisfaction. The streamlined operation of the LLM system not only reduces operational overhead but also supports environmentally conscious AI development by lowering energy demands, making it a forward-thinking tool for modern industries. Adaptability Across Diverse Sectors The versatility of the NVIDIA DGX Spark ensures its applicability across a wide range of industries. Its scalable architecture allows businesses to customize the model to meet their specific needs, providing tailored solutions for unique challenges. Some of the key applications include: Retail: Enhancing customer experiences through AI-driven personalized shopping recommendations. Enhancing customer experiences through AI-driven personalized shopping recommendations. Healthcare: Supporting medical research, diagnostics, and patient care with data-driven insights. Supporting medical research, diagnostics, and patient care with data-driven insights. Finance: Streamlining operations, improving decision-making, and increasing overall efficiency. This adaptability positions the 128GB LLM unit as a critical tool for organizations aiming to maintain a competitive edge in an increasingly AI-driven landscape. Its ability to integrate seamlessly into various workflows ensures that it can meet the evolving demands of modern industries. Driving the Future of Artificial Intelligence The introduction of the NVIDIA DGX Spark powered by the NVIDIA GB10 Grace Blackwell Superchip represents a pivotal step forward in the development of artificial intelligence. Its compact design, combined with advanced computational capabilities and energy efficiency, establishes it as a cornerstone of next-generation AI technology. As industries continue to adopt AI-driven solutions, the LLM unit provides a scalable, high-capacity option that meets the demands of contemporary applications while paving the way for future advancements. By bridging the gap between performance and portability, the 128GB LLM system offers a practical and innovative solution for businesses, researchers, and innovators. Its ability to deliver powerful results in a compact form factor ensures that it will play a central role in shaping the future of AI, allowing new possibilities and driving progress across diverse sectors. Media Credit: Alex Ziskind Filed Under: AI, Hardware, Top News Latest Geeky Gadgets Deals Disclosure: Some of our articles include affiliate links. If you buy something through one of these links, Geeky Gadgets may earn an affiliate commission. Learn about our Disclosure Policy.
Reuters
22 minutes ago
- Reuters
China affirms trade deal with US, says it always keeps its word
BEIJING, June 12 (Reuters) - China on Thursday affirmed a trade deal announced by U.S. President Donald Trump, saying both sides needed to abide by the consensus and adding China always kept its word. The deal, reached after Trump and China's President Xi Jinping spoke on the telephone last week, brings a delicate truce in a trade war between the world's two largest economies. "China has always kept its word and delivered results," Lin Jian, a foreign ministry spokesperson, said at a regular news conference. "Now that a consensus has been reached, both sides should abide by it." The Trump-Xi telephone call broke a standoff that had flared just weeks after a preliminary deal was reached in Geneva. The call was quickly followed by more talks in London that Washington said had put "meat on the bones" of the Geneva agreement to ease bilateral retaliatory tariffs. The Geneva deal had faltered over China's continued curbs on minerals exports, prompting the Trump administration to respond with export controls preventing shipments of semiconductor design software, jet engines for Chinese-made planes and other goods to China. Trump on Wednesday said he was very happy with the trade deal. "Our deal with China is done, subject to final approval with President Xi and me," Trump said on Truth Social. "Full magnets, and any necessary rare earths, will be supplied, up front, by China. Likewise, we will provide to China what was agreed to, including Chinese students using our colleges and universities (which has always been good with me!). We are getting a total of 55% tariffs, China is getting 10%." Still, specifics of the latest deal and details on how it will be implemented remain unclear. A White House official said the 55% represents the sum of a baseline 10% "reciprocal" tariff Trump has imposed on goods imported from nearly all U.S. trading partners, 20% on all Chinese imports associated with his accusation that China had not done enough to stem the flow of fentanyl into the U.S., and pre-existing 25% levies on imports from China put in place during Trump's first presidential term.
