Fed Chair Says Inflation Is Too High & USC, UCLA Announce AI Majors

In his first major speech as Fed Chair, Kevin Warsh told the Fed's annual Jackson Hole conference that inflation — currently at 3.7%, above the Fed's 2% target — remains a top concern, and warned the central bank will act if prices don't ease. Warsh didn’t offer “forward guidance” on interest rates, signaling he wants a quieter Fed that lets economic data drive policy instead of public commentary. The Fed's next rate decision comes in mid-September.

Meanwhile, USC and UCLA are launching new degree programs focused on artificial intelligence in an effort to keep up with a fast-changing job market. USC is introducing its first undergraduate AI degree, where students will learn to build AI systems for fields like robotics, drug discovery, and agriculture. UCLA is taking a different approach. The university is introducing a new Digital Humanities department that combines AI with subjects like history, sociology, and the arts. Both schools are emphasizing ethics and tools to spot bias, misinformation, and errors.

And, Blake Lively has been awarded about $407,000 in attorneys’ fees and court costs following the dismissal of Justin Baldoni’s defamation lawsuit against her. Lively had asked for more than $8 million, but a federal judge found the hours billed by her attorneys were unreasonable and opted to award her a much smaller amount. It could be the final chapter in the high-profile legal battle between the two “It Ends With Us” stars.

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Mamdani Announces New Business Council & NFL Drops Pro Bowl

NYC Mayor Zohran Mamdani has tapped a fifteen member Business Advisory Council with executives from real estate, retail, dining, sports, and healthcare. But missing from the council are executives fro...

27 Elo 4min

Meta Settles, Tim Curry Passes, and Lebron James Loan Ties to Mark Walter

Meta has agreed to pay up to $16.7 billion to settle claims from California and other states that its platforms harmed the mental health of young users. The tech giant denies wrongdoing, but will roll...

26 Elo 2min

Bitcoin Surges Past $77K & Californians Buying Second Passports

Bitcoin had been sliding for months, down 31% over the past year. Then last week, everything changed. News out of Washington sent the crypto surging back above $77,000, jumping 20% in just a few day...

24 Elo 2min

Walmart Sales Growth Craters & Disney's Tomorrowland Plans

The world's largest retailer, Walmart, just reported its worst sales growth in more than six years. Last quarter, the Arkansas-based company saw its store sales rise just 2.6 percent. This comes as ov...

21 Elo 2min

National Debt Tops $40 Trillion & Tony Romo's Future with CBS

The U.S. national debt hit a record high this week, topping $40 trillion. That’s double what it was in 2016 at the start of President Trump's first term. Most of that spending is going toward rising m...

20 Elo 2min

Record Number of Kindergartners Unvaccinated, Jeanie Buss Contests Lakers Sale, and Meta Trial Begins

A record number of kindergartners are starting school this year, without required vaccinations, with new federal data showing that exemption rates are hitting an all-time high for the fourth year in a...

18 Elo 4min

Californians Split on Billionaire Tax & Voter ID, European Vacations, and Ty Simpson Debut

New data shows 24 million Americans traveled to Europe in 2025 alone — a record high, led by trips to the UK, France, and Italy. But the boom isn't reaching everyone equally: the wealthiest households...

17 Elo 3min