Get ready for Federal Reserve déjà vu: The last Fed meeting didn’t give a decision on interest rates and today’s likely won’t, either. Analysts will be looking at the 2pm Eastern policy statement — and the following press conference from Janet Yellen — for clues about a possible increase in December. “For months, Fed watchers had speculated that the policymakers were preparing investors for a September rate increase. But that likelihood has faded as recent economic reports have turned out weaker than expected.”
The Fed’s announcement is the second major economic statement of the day. The Bank of Japan announced a stimulus pivot, shifting its focus from “expanding the money supply to controlling interest rates, which some economists deemed as further evidence that BOJ policy had reached the limits of its effectiveness.” The bank’s new Yield Curve Control policy was prompted by the fact that the past three-plus years of “unprecedented easing” hasn’t turned around the Japanese economy’s “two-decade deflationary spiral.”
Tesla has released a software update after hackers remotely controlled a vehicle.Researchers at Tencent’s Keen Security Lab were able to manipulate parts of a Tesla, including the brakes and the door, from as far as twelve miles away. The hack is remarkable for both the distance and “the sheer amount of control it can wrest from the driver.” Tesla pushed out an over-the-air update within ten days of learning about the bugs.
Say hello to Allo: Allo, Google’s latest addition to the sea of messaging apps, has something the others don’t: the Google Assistant. Users can interact with the chatbot (@google), asking it for restaurant recommendations or weather reports, having it find photos or save information, or giving it commands to perform functions on Android. You can even play games with it or use its suggested replies in conversations. Will the chatbot be enough to pull users away from WhatsApp or Facebook Messenger? Maybe not.
You may not get your replacement Galaxy Note 7 today. Replacements for only half of the one million US Note 7s will be available in stores today, falling below expectations and “potentially further damaging the company’s reputation” in the wake of a bug that causes some devices to catch fire while charging. Samsung hasn’t specified when the remaining devices will be available. Although the formal recall launched last Thursday, customers had already returned 130,000 Note 7s before the program began.