Ed Kalecki

In bad times, it risks exposing banks to losses.

Wall Street's banks are starting to test Anthropic's mythos model.

Bloomberg's Dan Schwartzman has more.

U.S.

inflation surged in March, but the most in nearly four years as the war with Iran sent gasoline prices skyrocketing.

The consumer price index rose 0.9% from February, this according to data out Friday.

From a year ago, it was up 3.3%, the strongest pace since 2024.

A record increase in gas prices was responsible for nearly three quarters of the monthly advance.

Another measure that excludes food and energy costs increased at a slower-than-expected 0.2 percent pace.

Jared Bernstein, former chair of the Council of Economic Advisers in the Biden administration, joined Kayleigh Lyons on balance of power and talked about how the long economic ripple effects could last after the war.

Jarrett Bernstein, former chair of the Council of Economic Advisors on Balance of Power.

A federal judge Friday temporarily barred Arizona from enforcing its gambling laws against predictive market operators and put the brakes on a criminal wagering case that the state had filed against Kalshi.

U.S.

District Judge Michael Liberti's ruling means a Monday arraignment hearing for Kalshi has been called off.

State prosecutors allege Kalshi is running an illegal gambling operation.

The order was issued in a lawsuit filed by the Trump administration.

After two rounds of the Masters, Rory McIlroy 7-under for the day on Friday, 12-under for the tournament.

He heads into Saturday's third round with a six-shot lead.

The Friday number is on Wall Street.

The Dow dropped 269.