Morning Business Report: Trump pushes back on calls to slow AI as Fed rate decision approaches
President Donald Trump is pushing back against calls to slow the development of artificial intelligence, dismissing warnings about the technology and concerns surrounding data centers.
(LILAMAX)- President Donald Trump is pushing back against calls to slow the development of artificial intelligence, dismissing warnings about the technology and concerns surrounding data centers.
Trump has argued that fears of AI posing an existential threat are overblown and compared those concerns to his criticism of warnings about climate change. His comments come as technology executives, including leaders at major AI companies, have called for additional safeguards or a slower pace of development for increasingly powerful AI systems.
Meanwhile, financial markets are anticipating the Federal Reserve’s interest rate decision Wednesday.
Markets are heavily pricing in an interest rate increase, but some economists warn another hike could weaken the economy. Moody’s Analytics Chief Economist Mark Zandi argues higher rates risk pushing an economy already growing near its potential into a downturn.
AI stocks fell Monday while the broader stock market remained relatively steady. Interest rates also moved higher.
Consumers are also seeing the effects of rising oil prices.
Costco has raised the price of its Kirkland Signature synthetic motor oil and placed limits on how much members can purchase. The move comes as crude oil prices have surged amid supply disruptions linked to the Middle East conflict and damage to a key Saudi pipeline. Refineries can also prioritize fuels such as gasoline and diesel when supplies are tight, potentially reducing the availability of products such as motor oil.
In the restaurant industry, a smaller Southern chain is once again receiving national recognition.
Biscuitville was voted the nation’s best fast-food breakfast in the 2026 USA Today 10Best Readers’ Choice contest for the fourth consecutive year. The North Carolina-based chain operates in North Carolina, South Carolina and Virginia and finished ahead of national competitors including McDonald’s and Chick-fil-A.
