Welcome to the Wall Street Week newsletter, bringing you stories of capitalism about things you need to know, but even more things you need to think about. I’m David Westin, and this week special contributor Larry Summers of Harvard took us through the results of the summit between President Trump and President Xi, and Nobel Prize winner Geoffrey Hinton explained why the AI he helped create poses a risk for us all. If you’re not yet a subscriber, sign up here for this newsletter.
It was a week full of consequence, as the Federal Reserve cut interest rates for the second time in a row and President Trump and President Xi met in South Korea to figure out a way forward for the two largest economies in the world. On the former, Larry Summers of Harvard told us he was “glad” that Chairman Powell explicitly warned that another cut in December was far from a sure thing: “The Fed can have much more of a durable impact on inflation than it can on unemployment,” Summers said.
