Fed's Powell says he expects to see more tariff-driven price hikes in coming months

Hong Kong is taking a cautious approach before launching stablecoins pegged to the Chinese yuan. While officials say the city is technically ready, they want to carefully weigh the risks and consider Beijing’s monetary policies first. The goal is to support the yuan’s global use, but no rush—they’re prioritizing a thorough evaluation of the pros and cons.

Editor’s Note: Stablecoins could give the yuan a bigger role in global finance, but Hong Kong isn’t jumping in blindly. This signals a balancing act—embracing crypto innovation while staying aligned with China’s broader financial strategy. For crypto watchers, it’s a hint that yuan-backed digital assets might be coming, just not overnight.

Social Security benefits might shrink in just eight years if lawmakers don’t step in to fix the program’s funding gap. Right now, the system is on track to run short of cash, which could force automatic cuts unless Congress finds a solution—something they’ve struggled to agree on for years.

Editor’s Note: This isn’t just a far-off problem—millions of retirees and future beneficiaries could see smaller checks at a time when many are already struggling with rising costs. It’s a wake-up call for politicians to act, but with Washington’s track record, there’s no guarantee they will. If you’re counting on Social Security, this is worth keeping an eye on.

Asian currencies took a hit as tensions between Israel and Iran rattled markets, while the U.S. dollar held steady after the Federal Reserve kept interest rates unchanged. Investors are playing it safe, pulling money out of riskier assets like emerging-market currencies and flocking to the dollar—a classic move when geopolitical uncertainty flares up.

Editor’s Note: When big geopolitical risks like Middle East tensions spike, money tends to flow out of smaller economies and into "safe haven" assets like the dollar. This story matters because weaker Asian currencies can drive up import costs, inflation, and borrowing in those countries—potentially slowing growth. Plus, the Fed's stance signals higher-for-longer U.S. rates, which keeps global financial conditions tight. Not great for markets already on edge.

Alibaba is doubling down on its AI ambitions by opening a second data center in South Korea, a move that signals both the company’s aggressive tech expansion and the region’s growing importance in the global AI race. This isn’t just about storage—it’s about positioning South Korea as a key hub for cloud computing and AI services in Asia.

Editor’s Note: Alibaba’s investment shows how fiercely companies are competing to build AI infrastructure where demand is booming. For South Korea, this means more jobs and tech influence, but it also hints at the broader scramble to dominate AI markets—especially as tensions over tech sovereignty heat up globally. If you’re watching where AI power is consolidating, this is another piece of the puzzle.

A group of Democratic lawmakers in Texas is urging Tesla to hold off on launching its robotaxi service, citing safety concerns and the need for more regulatory oversight. They argue that self-driving tech isn’t quite ready for prime time and want the company to slow down until stricter rules are in place.

Editor’s Note: This isn’t just about Tesla—it’s part of a bigger debate over how fast self-driving cars should hit the roads. Lawmakers are worried about accidents and legal gray areas, while companies like Tesla are pushing ahead with innovation. The outcome could shape how quickly (or slowly) autonomous vehicles become a normal part of our lives.