Explore

CBO Director Warns 5-6% Real GDP Growth Needed to Stabilize U.S. Debt, Deeming Strong Economy Alone Insufficient

CBO Director Warns 5-6% Real GDP Growth Needed to Stabilize U.S. Debt, Deeming Strong Economy Alone Insufficient

Congressional Budget Office (CBO) Director Phillip Swagel has stated that significantly faster economic growth, specifically 5-6% real GDP growth, would be necessary to stabilize the U.S. national debt. This projection is more than double the current real GDP pace of 2.2% observed in the second quarter. Swagel, speaking at a Minneapolis Fed conference, indicated that while stronger economic growth does generate more federal revenue, it is unlikely to be sufficient on its own to manage the escalating debt. The gross national debt currently stands at $40 trillion, with publicly held debt at 100% of GDP. The CBO forecasts the debt-to-GDP ratio to climb to 120% by 2036. Swagel also noted that an economic shock leading to a sudden increase in interest rates could trigger a detrimental fiscal cycle. The CBO's upcoming economic forecasts will incorporate the potential impact of artificial intelligence on future growth, though Swagel cautioned that even with AI-powered growth, the budget deficit is so substantial ...

UN Development Coordination Office Seeks Regional Director for Africa to Advance 2030 Agenda

UN Development Coordination Office Seeks Regional Director for Africa to Advance 2030 Agenda

The United Nations Development Coordination Office (UNDCO) is seeking a Regional Director for Africa. This role is critical for advancing the 2030 Agenda for Sustainable Development across the African continent. The Regional Director will lead UNDCO's interface at the regional level, ensuring effective collaboration within the UN Development System and providing support to Resident Coordinators (RCs) and UN Country Teams (UNCTs). Key responsibilities include regional thought leadership, fostering partnerships, and strategic analysis on sustainable development. The position also involves overseeing the recruitment of staff for the Regional Office, managing budgets, and ensuring compliance with UN policies on gender equality, disability, and youth inclusion. The role requires extensive experience in development cooperation coordination and senior leadership in international settings.

Middle East war, high debt levels to dominate IMF-World Bank meetings in Bangkok

Middle East war, high debt levels to dominate IMF-World Bank meetings in Bangkok

By Andrea Shalal BANGKOK, Oct 11 (Reuters) - Finance officials from around the world will gather in Thailand this week under the shadow of a widening war in the Middle East, the biggest energy supply shock ever and rising interest rates that together pose daunting risks to already-sluggish global

IMF says AI investment keeps global growth around 3%, with major Asia benefits

IMF says AI investment keeps global growth around 3%, with major Asia benefits

By Andrea Shalal and Rae Wee BANGKOK, Oct 12 (Reuters) - Strong investment in AI infrastructure is keeping global growth at around 3%, yielding major benefits for many Asian economies that supply the hardware, such as Thailand, International Monetary Fund Managing Director Kristalina Georgieva said

7th World Conference on Marine Biodiversity to Convene in Bruges, Belgium in 2026

7th World Conference on Marine Biodiversity to Convene in Bruges, Belgium in 2026

The 7th World Conference on Marine Biodiversity (WCMB 2026) is scheduled to take place in Bruges, Belgium, from November 17 to 20, 2026. This event is officially endorsed as a UN Ocean Decade Event and will operate under the theme, 'The marine biodiversity insights we need, for the ocean we want.' Organized every three years, the WCMB serves as a significant international gathering focused on the conservation and sustainable utilization of marine biodiversity. It aims to bring together a diverse group of stakeholders, including policymakers, scientists, conservationists, and industry representatives. The conference will provide a platform to discuss current and emerging issues related to marine ecosystems and to identify strategies for their protection and sustainable management. Occurring approximately halfway through the UN Ocean Decade, WCMB 2026 offers a timely opportunity to evaluate ongoing actions and initiatives and to assess the remaining objectives to be achieved by the Decade's conclusion.

University of Washington's Institute for Protein Design Receives Significant AI Computing Power Grant

University of Washington's Institute for Protein Design Receives Significant AI Computing Power Grant

The University of Washington Medicine Institute for Protein Design (IPD) has received a substantial in-kind grant of nearly 7 million hours of compute time from The Jen-Hsun and Lori Huang Foundation. This grant provides access to specialized AI computing systems, specifically graphics processing units (GPUs), which are expected to drastically reduce the time required for algorithm learning and evaluation from months to days. This acceleration will enable IPD scientists to tackle complex protein-design problems more efficiently. The applications of this enhanced computing power include developing precision cancer therapeutics, durable vaccines, treatments for currently untreatable diseases, and new enzymes capable of degrading environmental toxins like hazardous chemicals and plastics. The compute power is facilitated through the Huang Foundation's partnership with CoreWeave, utilizing NVIDIA GPUs.

US pledges tens of millions to UN bodies in Geneva, sources say

US pledges tens of millions to UN bodies in Geneva, sources say

By Emma Farge and Olivia Le Poidevin GENEVA, Oct 9 (Reuters) - The United States has pledged tens of millions of dollars to UN organisations in Geneva, sources said - a move diplomats said showed Washington still wanted to maintain some engagement with the global body that it has repeatedly

Debate on U.S. vs. Europe Economic Performance Challenged by Data Interpretation

Debate on U.S. vs. Europe Economic Performance Challenged by Data Interpretation

Debate on U.S. vs. Europe Economic Performance Challenged by Data Interpretation

Navanethem 'Navi' Pillay wins the Nobel Peace Prize

Navanethem 'Navi' Pillay wins the Nobel Peace Prize

Former U.N. human rights chief Navi Pillay has won the Nobel Peace Prize

OECD Committee for Digital Economic Policy Advances Global Digital Standards

OECD Committee for Digital Economic Policy Advances Global Digital Standards

The Organisation for Economic Co-operation and Development (OECD) is actively engaged in shaping global digital policy through its Committee for Digital Economic Policy (CDEP). The CDEP convenes biannually to approve and develop the OECD's work in the digital sphere. This work is further supported by four policy-working groups that also meet twice a year: MADE, focusing on measurement; CISP, addressing digital infrastructure; SDE, concentrating on privacy and security; and DEP, which deals with data governance and privacy. The European Commission is closely involved in these work streams, contributing to the development of international norms and standards, including those for Information and Communication Technology (ICT) standardization. This collaborative effort aims to advance a European approach to digital transformation by engaging with international organizations and forums like the UN, G7, and G20.

Is AI Secretly Charging You More? The Scary Future of Personalized Prices

Is AI Secretly Charging You More? The Scary Future of Personalized Prices

How algorithms could use your data to determine the price you pay.

Westchester County Journal News

Lawler, Conley clash over data centers in NY-17 race. Where they stand

Lawler, Conley clash over data centers in NY-17 race. Where they stand

GOP Rep. Mike Lawler and Democratic challenger Cait Conley are trading a volley of claims on the hot-button issue of data centers in their House race.