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June 7th - According to sources, Sriram Krishnan, a technology investor who spearheaded the Trump administrations pro-industry AI policy, plans to leave the White House at the end of this month to found an outside organization aimed at influencing technology policy. Krishnan is one of the architects of the governments "AI Action Plan," which outlined a blueprint for deregulating new technologies and promoting the construction of data centers nationwide. He also participated in drafting an executive order limiting states ability to regulate AI. However, advanced AI models such as Anthropics Mythos have demonstrated the ability to discover software security vulnerabilities, raising concerns among senior government officials about the risk of cyberattacks and prompting some officials to reassess the relaxed regulatory approach championed by Krishnan and others.According to Saudi media alhadath: Pakistans Interior Minister has arrived in Iran.According to The Information, White House senior policy advisor on artificial intelligence, Krishnan, will be leaving the office.On June 7th, Federal Reserve Governor Michael Barr criticized regulators moves over the past year to ease restrictions on bank lending, stating that related proposals "significantly weakened bank regulation." Barr stated that the vulnerabilities resulting from deregulation may not be immediately apparent, but will accumulate problems over the next few years and could cause serious damage to the economy. Trump-era officials have taken steps to ease capital requirements for Wall Street banks, narrow the scope of regulation, and pave the way for competition between traditional banks and private lending giants. Barr warned that weaker capital rules, liquidity requirements, and regulation could increase the risk of bank failures. He pointed out that banks need room to grow to support economic innovation, but long-term experience shows that without proper safeguards, the pursuit of high-profit innovation can lead to excessive risk. When banks run into trouble, their failures threaten businesses and households, and even jeopardize the overall economy.Federal Reserve Chairman Barr warned that relaxing regulatory rules for Wall Street banks could pose risks.

Erdogan Rival's Lights Are Turned Off After He Refuses to Pay Increasing Electricity Costs

Charlie Brooks

Apr 22, 2022 09:38

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"This is not an incitement to civil disobedience; this is a call to resist. This is a battle for your civil rights. My battle is to be a voice for the families and children who have been abandoned, "Kemal Kilicdaroglu, Chairman of the Republican People's Party, stated as he sat alongside his wife in their Ankara home lit by a gas lamp.


"My wife and I will be in the dark for a week... I shall sit in the darkness in order to feel my people's anguish "Additionally, he said.


In March, annual inflation increased to 61%. Numerous commentators attribute the economic instability to President Tayyip Erdogan's last-minute interest rate cuts.


Kilicdaroglu said in February that he would cease paying his power bills and urged the government to reverse the price increases.


He noted earlier on Thursday that power rates, which increased by between 50% and 125% at the start of 2022, have increased by more than 400% in three years.


Kilicdaroglu stated that over 4 million Turkish users lost electricity in 2021, without providing a source for the statistic.


Erdogan's popularity has suffered as a result of the inflationary increase in the run-up to the June 2023 national elections, in which Kilicdaroglu is seen as a possible presidential candidate.


Years of double-digit inflation, along with the latest spike, have eaten away at family savings and wages. Shopkeepers, local councils, and a religious community organization have all expressed concern over growing energy costs.


Last year, the lira fell 44 percent versus the dollar, owing mostly to monetary easing that started in September amid growing inflation. Through Turkey's strong reliance on imports, the devaluation fueled inflation.


The easing cycle was part of Erdogan's new economic policy, which seeks to stimulate exports, lending, and investment while also reducing inflation, according to the government.