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777pub club President-elect Donald Trump campaigned on the promise that his policies would reduce high borrowing costs and lighten the financial burden on American households. But what if, as many economists expect, interest rates remain elevated, well above their pre-pandemic lows? Trump could point a finger at the Federal Reserve, and in particular at its chair, Jerome Powell, whom Trump himself nominated to lead the Fed. During his first term, Trump repeatedly and publicly ridiculed the Powell Fed, complaining it kept interest rates too high. Trump’s attacks on the Fed raised widespread concern about political interference in the Fed’s policymaking. Powell, for his part, emphasized the importance of the Fed’s independence: “That gives us the ability to make decisions for the benefit of all Americans at all times, not for any particular political party or political outcome.” Political clashes might be inevitable in the next four years. Trump’s proposals to cut taxes and impose steep and widespread tariffs are a recipe for high inflation in an economy operating at close to full capacity. And if inflation were to reaccelerate, the Fed would need to keep interest rates high. Because Powell won’t necessarily cut rates as much as Trump will want. And even if Powell reduces the Fed’s benchmark rate, Trump’s own policies could keep other borrowing costs — such as mortgage rates — elevated. The sharply higher tariffs that Trump vowed to impose could worsen inflation. And if tax cuts on things like tips and overtime pay — another Trump promise — quickened economic growth, that, too, could fan inflationary pressures. The Fed would likely respond by slowing or stopping its rate cuts, thereby thwarting Trump’s promises of lower borrowing rates. The central bank might even raise rates if inflation worsens. “The risk of conflict between the Trump administration and the Fed is very high,” Olivier Blanchard, former top economist at the International Monetary Fund, said recently. If the Fed increases rates, “it will stand in the way of what the Trump administration wants.” Yes, but with the economy sturdier than expected, the Fed’s policymakers may cut rates only a few more times — fewer than anticipated just a month or two ago. And those rate cuts might not reduce borrowing costs for consumers and businesses very much. The Fed’s key short-term rate can influence rates for credit cards, small businesses and some other loans. But it has no direct control over longer-term interest rates. These include the yield on the 10-year Treasury note, which affects mortgage rates. The 10-year Treasury yield is shaped by investors’ expectations of future inflation, economic growth and interest rates as well as by supply and demand for Treasuries. An example occurred this year. The 10-year yield fell in late summer in anticipation of a Fed rate cut. Yet once the first rate cut occurred Sept. 18, longer-term rates didn’t fall. Instead, they began to rise again, partly in anticipation of faster economic growth. Trump also proposed a variety of tax cuts that could swell the deficit. Rates on Treasury securities might then have to be increased to attract enough investors to buy the new debt. “I honestly don’t think the Fed has a lot of control over the 10-year rate, which is probably the most important for mortgages,” said Kent Smetters, an economist and faculty director at the Penn Wharton Budget Model. “Deficits are going to play a much bigger role in that regard.” Occasional or rare criticism of the Fed chair isn’t necessarily a problem for the economy, so long as the central bank continues to set policy as it sees fit. But persistent attacks would tend to undermine the Fed’s political independence, which is critically important to keeping inflation in check. To fight inflation, a central bank often must take steps that can be highly unpopular, notably by raising interest rates to slow borrowing and spending. Political leaders typically want central banks to do the opposite: keep rates low to support the economy and the job market, especially before an election. Research has found that countries with independent central banks generally enjoy lower inflation. Even if Trump doesn’t technically force the Fed to do anything, his persistent criticism could still cause problems. If markets, economists and business leaders no longer think the Fed is operating independently and instead is being pushed around by the president, they’ll lose confidence in the Fed’s ability to control inflation. Once consumers and businesses anticipate higher inflation, they usually act in ways that fuel higher prices — accelerating their purchases, for example, before prices increase further, or raising their own prices if they expect their expenses to increase. “The markets need to feel confident that the Fed is responding to the data, not to political pressure,” said Scott Alvarez, a former general counsel at the Fed. He can try, but it would likely lead to a prolonged legal battle that could even end up at the Supreme Court. At a November news conference, Powell made clear that he believes the president doesn’t have legal authority to do so. Most experts think Powell would prevail in the courts. And from the Trump administration’s perspective, such a fight might not be worth it. Powell’s term ends in May 2026, when the White House could nominate a new chair. It is also likely the stock market would tumble if Trump attempted such a brazen move. Bond yields would probably increase, too, sending mortgage rates and other borrowing costs up. Financial markets might also react negatively if Trump is seen as appointing a loyalist as Fed chair to replace Powell in 2026. Yes, and in the most egregious cases, it led to stubbornly high inflation. Notably, President Richard Nixon pressured Fed Chair Arthur Burns to reduce interest rates in 1971, which the Fed did, as Nixon sought reelection the next year. Economists blame Burns’ failure to keep rates sufficiently high for contributing to the entrenched inflation of the 1970s and early 1980s. Thomas Drechsel, an economist at the University of Maryland, said that when presidents intrude on the Fed’s interest rate decisions, “it increases prices quite consistently and it increases expectations, and ... that worries me because that means inflation might become quite entrenched.” Since the mid-1980s, with the exception of Trump in his first term, presidents have scrupulously refrained from public criticism of the Fed. “It’s amazing, how little manipulation for partisan ends we have seen of that policymaking apparatus,” said Peter Conti- Brown, a professor of financial regulation at the University of Pennsylvania’s Wharton School. “It really is a triumph of American governance.” Get local news delivered to your inbox!2024 intro: As NASA’s Ames Research Center in California’s Silicon Valley enters its 85 th year since its founding, join us as we take a look back at some of our highlights of science, engineering, research, and innovation from 2024. Ames Arc Jets Play Key Role in Artemis I Orion Spacecraft Heat Shield Findings Researchers at Ames were part of the team tasked to better understand and identify the root cause of the unexpected char loss across the Artemis I Orion spacecraft’s heat shield. Using Avcoat material response data from Artemis I, the investigation team was able to replicate the Artemis I entry trajectory environment — a key part of understanding the cause of the issue — inside the arc jet facilities at NASA Ames. Starling Swarm Completes Primary Mission After ten months in orbit, the Starling spacecraft swarm successfully demonstrated its primary mission’s key objectives, representing significant achievements in the capability of swarm configurations in low Earth orbit, including distributing and sharing important information and autonomous decision making. Another Step Forward for BioNutrients NASA’s BioNutrients entered its fifth year in its mission to investigate how microorganisms can produce on-demand nutrients for astronauts during long-duration space missions. Keeping astronauts healthy is critical and as the project comes to a close , researchers have processed production packs on Earth on the same day astronauts processed production packs in space on the International Space Station to demonstrate that NASA can produce nutrients after at least five years in space, providing confidence it will be capable of supporting crewed missions to Mars. Hyperwall Upgrade Helps Scientists Interpret Big Data Ames upgraded its powerful hyperwall system , a 300-square foot wall of LCD screens with over a billion pixels to display supercomputer-scale visualizations of the very large datasets produced by NASA supercomputers and instruments. The hyperwall is just one way researchers can utilize NASA’s high-end computing technology to better understand their data and advance the agency’s missions and research. Ames Contributions to NASA Artificial Intelligence Efforts Ames contributes to the agency’s artificial intelligence work through ongoing research and development, agencywide collaboration, and communications efforts. This year, NASA announced David Salvagnini as its inaugural chief artificial intelligence officer and held the first agencywide town hall on artificial intelligence sharing how the agency is safely using and developing artificial intelligence to advance missions and research. Advanced Composite Solar Sail System Successfully Launches, Deploys Sail NASA’s Advanced Composite Solar Sail System successfully launched from Māhia, New Zealand, in April, and successfully deployed its sail in August to begin mission operations. The small satellite represents a new future in solar sailing, using lightweight composite booms to support a reflective polymer sail that uses the pressure of sunlight as propulsion. Understanding Our Planet In 2024, Ames researchers studied Earth’s oceans and waterways from multiple angles – from supporting NASA’s Plankton, Aerosol, Cloud, ocean Ecosystem, or PACE, mission to bringing students in Puerto Rico experiences in oceanography and the preservation of coral reefs . Working with multiple partners, our scientists and engineers helped inform ecosystem management by joining satellite measurements of Earth with animal tracking data . In collaboration with the U.S. Geological Survey, a NASA team continued testing a specialized instrument package to stay in-the-know about changes in river flow rates . Revealing the Mysteries of Asteroids in Our Solar System Ames researchers used a series of supercomputer simulations to reveal a potential new explanation for how the moons of Mars may have formed : The first step, the findings say, may have involved the destruction of an asteroid. Using NASA’s powerful James Webb Space Telescope, another Ames scientist helped reveal the smallest asteroids ever found in the main asteroid belt. Ames Helps Emerging Space Companies ‘Take the Heat’ A heat shield material invented and made at Ames helped to safely return a spacecraft containing the first product processed on an autonomous, free-flying, in-space manufacturing platform. February’s re-entry of the spacecraft from Varda Space Industries of El Segundo, California, in partnership with Rocket Lab USA of Long Beach, California, marked the first time a NASA-manufactured thermal protection material, called C-PICA (Conformal Phenolic Impregnated Carbon Ablator), ever returned from space. Team Continues to Move Forward with Mission to Learn More about Our Star HelioSwarm’s swarm of nine spacecraft will provide deeper insights into our universe and offer critical information to help protect astronauts, satellites, and communications signals such as GPS. The mission team continues to work toward launching in 2029. CAPSTONE Continues to Chart a New Path Around the Moon The microwave sized CubeSat, CAPSTONE , continues to fly in a cis-lunar near rectilinear halo orbit after launching in 2022. Flying in this unique orbit continues to pave the way for future spacecraft and Gateway , a Moon-orbiting outpost that is part of NASA’s Artemis campaign, as the team continues to collect data. NASA Moves Drone Package Delivery Industry Closer to Reality NASA’s uncrewed aircraft system traffic management concepts paved the way for newly-approved package delivery drone flights in the Dallas area. NASA Technologies Streamline Air Traffic Management Systems Managing our busy airspace is a complex and important issue, ensuring reliable and efficient movement of commercial and public air traffic as well as autonomous vehicles. NASA, in partnership with AeroVironment and Aerostar, demonstrated a first-of-its-kind air traffic management concept that could pave the way for aircraft to safely operate at higher altitudes. The agency also saw continued fuel savings and reduction in commercial flight delays at Dallas Fort-Worth Airport, thanks to a NASA-developed tool that allows flight coordinators to identify more efficient, alternative takeoff routes. Small Spacecraft Gathers Big Solar Storm Data from Deep Space BioSentinel – a small satellite about the size of a cereal box – is currently more than 30 million miles from Earth, orbiting our Sun. After launching aboard NASA’s Artemis I more than two years ago, BioSentinel continues to collect valuable information for scientists trying to understand how solar radiation storms move through space and where their effects – and potential impacts on life beyond Earth – are most intense. In May 2024, the satellite was exposed to a coronal mass ejection without the protection of our planet’s magnetic field and gathered measurements of hazardous solar particles in deep space during a solar storm. NASA, FAA Partner to Develop New Wildland Fire Technologies NASA researchers continued to develop and test airspace management technologies to enable remotely-piloted aircraft to fight and monitor wildland fires 24 hours a day. The Advanced Capabilities for Emergency Response Operations (ACERO) project seeks to use drones and advanced aviation technologies to improve wildland fire coordination and operations. NASA and Forest Service Use Balloon to Help Firefighters Communicate The Strategic Tactical Radio and Tactical Overwatch (STRATO) technology is a collaborative effort to use high-altitude balloons to improve real-time communications among firefighters battling wildland fires. Providing cellular communication from above can improve firefighter safety and firefighting efficiency. A Fully Reimagined Visitor Center The NASA Ames Visitor Center at Chabot Space & Science Center in Oakland, California includes a fully reimagined 360-degree experience, featuring new exhibits, models, and more. An interactive exhibit puts visitors in the shoes of a NASA Ames scientist, designing and testing rovers, planes, and robots for space exploration. Ames Collaborations in the Community NASA astronauts, scientists, and researchers, and leadership from the University of California, San Francisco (UCSF) met with cancer patients and gathered in a discussion about potential research opportunities and collaborations as part of President Biden and First Lady Jill Biden’s Cancer Moonshot initiative on Oct. 4. During the visit with patients, NASA astronaut Yvonne Cagle and former astronaut Kenneth Cockrell answered questions about spaceflight and life in space. Ames and the University of California, Berkeley, expanded their partnership, organizing workshops to exchange on their areas of technical expertise, including in Advanced Air Mobility, and to develop ideas for the Berkeley Space Center, an innovation hub proposed for development at Ames’ NASA Research Park. Under a new agreement, NASA also will host supercomputing resources for UC Berkeley, supporting the development of novel computing algorithms and software for a wide variety of scientific and technology areas.

Krewe of Erin Celtic Heritage Festival would like to recognize the winners and thank the organizations, businesses and families for participating in the 2nd Annual Wild Game Cookoff featuring divisions of fins, fur and feathers. They also thanked those who bought bracelets for sampling as well as judges Bailey Barker Tallion, Rose Dominguez and Josh Poche. Proceeds from the 2024 Wild Game Cookoff were presented locally to Ponchatoula American Legion Post #47 and Helen Hooks Rownd VFW Post 3652. A donation was also made to the national Wounded Warrior Project.

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Fraud attempts carried out with deepfakes have become established as part of the online security landscape, with organizations turning to presentation attack detection and injection attack detection to fight spoofs against face or voice biometrics systems. They are also increasingly deploying multi-modal biometric and signals analysis tools. held a webinar last week to present its vision for “Protecting Contact Centers from AI-Powered Voice Fraud.” Co-founder and CEO Ben Colman and Head of Product Diana Hsieh explained how the company applies real-time detection and multi-factor authentication. Colman noted that voice is the modality most often spoofed with generative AI, and presented real-life examples of voice deepfakes. The company has found that out of 10,000 calls a day handled for a tier 1 bank customer, 0.17 percent are deepfakes. Reality Defender VP of Human Engagement Gabe Regan writes in a company that the move towards real-time, multi-modal deepfake detection represents a strategic shift in organizations’ synthetic media detection approaches. Regan notes that Entrust’s recent shows deepfake attacks on biometric systems are part of 40 percent of identity fraud attempts. has been issued a patent for a way to build better deepfake voice watch lists. The patent for “ ” was issued by the U.S. Patent and Trademark Organization last week to Daon, listing CTO Ralph Rodriguez as its inventor. Current voice watch lists are declining in value, according to the patent document, because they identify known threats to biometric systems, but are unable to adapt to evolving fraud methods. They also “are not typically known to adequately analyze behavioral patterns associated with voice interactions and thus do not capture clues that could indicate fraudulent activity.” The system for enhancing the detection of fraudulent data described in the patent consists of a risk score mechanism that ingests behavioral, contextual and voice data. The data is analyzed for an overall assessment of risk level, with high-risk scores triggering an action like a review or transaction suspension. Like Reality Defender, the analysis is carried out in real-time to find anomalies associated with synthetic speech. Daon plans to deploy the innovative technology within its solution for production deployments in 2025, Rodriguez tells in an email. In India, MEITY (Ministry of Electronic & Information Technology) initiative has published an expression of interest for individuals and organizations to lead a set of development projects to increase the safety and fairness of AI. IndiaAI seeks tools to watermark or label AI-generated content, perform AI risk assessments and management, stress testing and deepfake detection, along with frameworks for ethical AI. The deepfake detection tools should perform real-time deepfake identification and mitigation. Applications are open now through January 9, 2025, and submission guidelines are . The rise in deepfake misinformation and fraud is recognized in a November 27 advisory from the Indian Computer Emergency Response Team (CERT-In). The reports the advisory followed the release of several fake audio clips by President Modi’s Bharatiya Janata Party. ’s real-time deepfake detection technology for photos and videos picked up the 9th Munich Digital Innovation Award in November. The award winner was determined by live audience voting during the event, which was held under the theme “Reality Check AI.” “With deepfake and impersonation attacks on the rise, safeguarding digital identities is more critical than ever,” says BioID CEO Ho Chang. The company launched a , which analyzes facial features for signs of manipulation, earlier this year. | | | | | | | |Australia plans new rules forcing Big Tech to continue paying news outlets

Youngkin says Virginia will host first commercial fusion plant

BOZEMAN, Mont. – Aurora, a self-driving trucking company, is making waves in Bozeman with its innovative technology and job creation. The company uses LIDAR, a tool that employs lasers and photonics to create a 3-D picture of the environment. Montana State University and Gallatin College have developed programs to educate students in photonics, preparing them for real-world applications. Some students have already secured positions with Aurora. Mayor Terry Cunningham of Bozeman emphasized the local impact, saying, "The genius folks who are creating those sparks and those innovations get to stay here in the place that they love, because of the innovations that they created. But also, for folks like Aurora who are creating businesses from that technology." Aurora has already introduced 70 tech jobs to the Bozeman area, with more on the horizon. Governor Greg Gianforte, who has a background in high tech, highlighted the state's role in fostering industry growth. "We've been reducing regulations. We've been reducing the tax burden. We've been making IT investments in education. And this really creates an environment where entrepreneurs can succeed in the private sector," he said. The new Aurora Bozeman location will function as a LIDAR testing and research facility, further contributing to the area's technological advancement. Get any of our free email newsletters — news headlines, sports, arts & entertainment, state legislature, CFD news, and more.

The company will operate Baldwin into 2027, slightly longer than previously announced Media kit available: photos and b-roll IRVING, Texas , Dec. 17, 2024 /PRNewswire/ -- Vistra VST today announced that two new utility-scale solar projects in Illinois have connected to the grid and that, amid widespread concern over reliability in the MISO market, it is amending the retirement schedule of its 1,185-megawatt (MW) Baldwin Power Plant in Baldwin, Illinois . The company now intends to run the plant through 2027 instead of retiring in 2025, as previously announced, while still meeting federal Environmental Protection Agency retirement and pond closure obligations. "Vistra is committed to the responsible transition of our fleet in Illinois , and in this case, the most reasonable path forward is to continue to operate the plant as a reliable bridge to 2027, as we, and others, bring new generation assets online in the state," said Jim Burke , president and CEO of Vistra. "As many organizations have recently raised concerns over reliability and resource adequacy in central and southern Illinois , we are taking action and delivering solutions that balance the needs of reliability, affordability, and sustainability." With the addition of a new 68-MW utility-scale solar and 2-MW/8-MWh energy storage system, which began generating power this month, Baldwin is a power generation hub. The $135-million investment involved the placement of over 200,000 solar panels across 420 acres of property the plant has owned and maintained for decades. The solar generation facility will produce approximately 140,000 MWh of zero-carbon electricity annually over the next 20 years. The use of multiple technologies at Baldwin , including thermal, solar, and energy storage, demonstrates the company's commitment to evaluating how to best leverage the footprint, infrastructure, and transmission connections already at the plant sites to meet the evolving electricity needs of customers. "With more than $1 billion in projects recently completed or underway across Illinois , we are helping the state attain its future energy goals consistent with their stated values and regulations while remaining flexible as we retain reliable baseload generation to meet customer needs," said Burke. "We know the decision to operate Baldwin through 2027 will be welcome news to our dedicated employees, the Village of Baldwin , and Randolph County , as the plant has a tremendous economic impact. We are pleased that Baldwin will provide an opportunity for employment longer than originally anticipated, providing a benefit to the families of the plant community." The 1,185-MW Baldwin Power Plant produces enough electricity to power approximately 592,500 homes. Approximately 120 employees operate the Baldwin plant. Union employees are represented by IBEW Local 51. Reusing Plant Sites to Power a Growing Economy Across the country, Vistra is undertaking a methodical, site-by-site analysis of its coal fleet to determine the economic feasibility of repurposing the sites by responsibly retiring some technologies and renewing the plants with less carbon-intense generation, including solar and energy storage. The investment at the Baldwin plant site is part of the State of Illinois' innovative Coal to Solar and Energy Storage Initiative, which encouraged the development of renewable energy assets at existing power plant sites. Along with Baldwin , Vistra continues to make progress on other Coal to Solar sites, including: The 44-MW solar and 2-MW/8-MWh energy storage facility at the Coffeen Power Plant site is generating power. Construction of the 52-MW solar and 2-MW/8-MWh energy storage facility at the Newton Power Plant will begin in 2025. Separately, as previously announced, construction has begun on a 405-MW utility-scale solar facility that will interconnect at the company's retired EEI-Joppa Power Plant through a to-be-constructed approximate 8-mile transmission line. Since its merger with Dynegy in 2018, Vistra has taken decisive steps to responsibly operate, retire, and transform its coal plant fleet in Illinois . The company has committed to retiring these plants no later than the end of 2027 to comply with existing federal EPA regulations. Economic & Fiscal Impact The Baldwin Power Plant provides significant direct and indirect economic benefits to the region and state. An economic impact study projected the plant's direct, indirect, and induced economic benefits and concluded that within Randolph County , the existing Baldwin plant: sustains approximately 298 full-time direct, indirect, and induced jobs in the area generates more than $41 million in income for local workers in the county has a total regional economic output of $262 million Local governments had been anticipating the plant's property taxes to decrease after the plant's planned retirement in 2025. Extending the window of operations will provide additional local property taxes to help fund essential public services and local schools. The new solar facility is expected to generate $6 million in total property tax payments over the project's life. About Vistra Vistra VST is a leading Fortune 500 integrated retail electricity and power generation company that provides essential resources to customers, businesses, and communities from California to Maine. Based in Irving, Texas, Vistra is a leader in the energy transformation with an unyielding focus on reliability, affordability, and sustainability. The company safely operates a reliable, efficient, power generation fleet of natural gas, nuclear, coal, solar, and battery energy storage facilities while taking an innovative, customer-centric approach to its retail business. Learn more at vistracorp.com . View original content to download multimedia: https://www.prnewswire.com/news-releases/vistra-connects-two-utility-scale-solar-facilities-to-grid-and-extends-operations-of-baldwin-power-plant-in-response-to-reliability-concerns-in-miso-302334050.html SOURCE Vistra Corp © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

WALTHAM, Mass. , Nov. 25, 2024 /PRNewswire/ -- Spyre Therapeutics, Inc. (NASDAQ: SYRE), a clinical-stage biotechnology company utilizing best-in-class antibody engineering, rational therapeutic combinations, and precision medicine approaches to target improved efficacy and convenience in the treatment of Inflammatory Bowel Disease ("IBD"), today announced that will participate in a fireside chat and investor meetings at the 7th Annual Evercore ISI HealthCONx Conference. Details of the fireside are as follows: To access this webcast, please visit the "Events & Presentations" page within the Investors section of the Spyre website at ir.spyre.com . An archive of the webcast will be available for replay following the end of the conference. About Spyre Therapeutics Spyre Therapeutics is a clinical-stage biotechnology company that aims to create next-generation inflammatory bowel disease (IBD) products by combining best-in-class antibody engineering, rational therapeutic combinations, and precision medicine approaches. Spyre's pipeline includes extended half-life antibodies targeting α4β7, TL1A, and IL-23. For more information, visit Spyre's website at www.spyre.com . Follow Spyre Therapeutics on social media: @spyretx and LinkedIn View original content to download multimedia: https://www.prnewswire.com/news-releases/spyre-therapeutics-to-participate-in-the-7th-annual-evercore-isi-healthconx-conference-302315865.html SOURCE Spyre Therapeutics, Inc.Lawmakers edge closer to deal on government funding

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