Neil Dutta argues the Fed should deliver a surprise rate hike at its July 28-29 meeting rather than wait for September. Persistent inflation from AI spending, oil shocks, tariffs and a resilient labor market make action obvious. Kevin Warsh's silence has left colleagues filling the void with hawkish signals. Markets price only a 33% chance of July action, but the new chairman holds the power to tip the balance.
European banks ramp up AI spending to combat fraud, meet competition and satisfy regulators. Moody’s data shows 66% cite rising crime as a key driver while the ECB demands AI risk plans by October. Progress mixes with persistent data and governance challenges. The sector balances innovation against strict oversight.
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