In his first-ever speech at the Federal Reserve’s annual symposium in Jackson Hole, Wyoming, Chair Kevin Warsh called for a “quieter” central bank.

Warsh, who has sought to pare back the Fed’s communications, argued it “should not indulge a regime in which market participants are looking primarily to the Fed for their next trade.” He also expressed concern about persistent inflation, after annual inflation remained stuck at 3.3% in July.

A number of central bank officials have said rate hikes would likely be necessary if price increases did not moderate, as the ongoing conflict in the Middle East continues to add uncertainty to the economic outlook.

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PayPal’s stock sank 13% on Friday as Bloomberg reported that Stripe and Advent International abandoned their $53 billion bid to take over the company, which has struggled to compete with other payments platforms.

AI-driven demand for memory and computer hardware has driven up core inflation as much as the tariffs President Donald Trump imposed early last year, a new analysis from the Minneapolis Federal Reserve found.

Burning Man, the cultural behemoth that annually welcomes 70,000 revelers to a remote desert in Nevada, and its impassioned community have spent the last three decades arguing over what Silicon Valley gets to bring to the desert playa. Now, as generative AI creeps into theme cap flyers and art installations, attendees are sparring over whether the tools are being used as a new form of desert ingenuity, or just the latest version of tech wealth commandeering a handmade culture and turning it into homogenized AI slop.

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