Quantitative tightening has blurred the line between monetary and fiscal policy, leaving ministers accountable for decisions they cannot directly controlWhen Labour made the Bank of England independent in 1997, the idea was that the Bank set interest rates while the Treasury taxed and spent. Monetary policy was in Threadneedle Street, fiscal policy in Whitehall. But in August the Bank of England quietly slipped out that its key policy could cost the Treasury £120bn.
We examine claims and counterclaims about the risks and calls to slow down the pace of AI developmentThere have been some shocking claims in recent days about AI safety: we face a 10% chance of doom; AIs are worse than nukes; a “botnet” threatens the entire internet; it’s all a big tech psyop. We look at six claims and reactions to them.
