“We find that consumer prices have risen disproportionately in categories facing larger tariff increases,” Goldman Sachs said in a note to investors and analysts last autumn. An updated forecast this week estimated that “tariff pass-through increased core PCE (personal consumption expenditure) prices by about 0.7% through January and will raise prices by a further 0.1% in the remainder of 2026.”
The average 30-year fixed mortgage rate is around 5.98% to 5.99% this week, Freddie Mac said Thursday. The percentage is down sharply from 6.8% to 6.9% a year ago and from peaks near 8% in late 2023, per The Wall Street Journal. On a typical loan, that rate drop can cut monthly payments by hundreds of dollars for home buyers.
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In recent years, LLMs have shown significant improvements in their overall performance. When they first became mainstream a couple of years before, they were already impressive with their seemingly human-like conversation abilities, but their reasoning always lacked. They were able to describe any sorting algorithm in the style of your favorite author; on the other hand, they weren't able to consistently perform addition. However, they improved significantly, and it's more and more difficult to find examples where they fail to reason. This created the belief that with enough scaling, LLMs will be able to learn general reasoning.