Policy & the Fed

Fed officials

In plain wordsWhen the Fed keeps rates high, borrowing costs more for everyone, from home buyers to companies building AI.

The Fed held its rate range at 3.75%-4.00% on Oct 28, 2026. Vote was 10-2; Cook and Hammack wanted a 0.25-point hike.

“Inflation remains elevated.”

— Fed officials VERIFIED

Source · Oct 28, 2026 VERIFIED

UNVERIFIED Chair quotes are from the Fed's preliminary press-conference transcript, which may still change. Timing of the Balance Sheet Task Force ideas ("probably early in the first quarter") is not confirmed.

Rates set the cost of borrowing for big building projects, including AI data centers. Stocks, bonds and crypto often move when the Fed's rate path changes.

• Dec 8–9, 2026 · Next FOMC meeting (with projections) VERIFIED · Source
• Nov 16, 2026 · Fed Productivity and Jobs Task Force field hearing (per Warsh) VERIFIED · Source

Topics: Economics & Policy Stocks Crypto AI

Dan Ives

In plain wordsThe AI build runs on borrowed money, so rate worries can shake AI stocks.

“The debate between rates and the massive AI Revolution buildout is causing jitters in this market”

— Dan Ives VERIFIED

Source · Oct 23, 2026 VERIFIED

In Ives's view, the AI build runs on borrowed money, so news about rates can move AI-linked stocks.

• Dec 8–9, 2026 · Next FOMC meeting (with projections) VERIFIED · Source

Topics: Economics & Policy AI Stocks

Jordi Visser

In plain wordsBuilding AI uses huge amounts of money, power and metal, which can push prices up and make the Fed slower to cut.

“AI is deflationary in the intelligence it produces, while its deployment can create inflationary pressures through extraordinary demand for capital and physical resources.”

— Jordi Visser VERIFIED

Source · Oct 27, 2026 VERIFIED

In Visser's view, if building AI pushes prices for power and materials up, the Fed may wait longer to cut rates, which keeps borrowing costs higher.

• Dec 8–9, 2026 · Next FOMC meeting (with projections) VERIFIED · Source

Topics: Economics & Policy AI Power Raw Materials

U.S. Commerce Dept. (BIS)

In plain wordsExport rules decide who can buy the machines that make chips, which can open or shut markets for toolmakers.

From Dec 2, 2024, BIS added export controls on 24 types of chip-making tools and on high-bandwidth memory (HBM) going to China.

Source · Dec 2, 2024 VERIFIED

Export rules decide who can buy chip-making machines and memory, which can open or close markets for toolmakers such as ASML and Applied Materials.

• Nov 10, 2026 · BIS Affiliates Rule license requirements return (foreign firms 50%+ owned by listed parties) VERIFIED · Source
• UNVERIFIED Reported only by law-firm notes: an extension to Jan 10, 2027 is expected. Not yet published by BIS.

Topics: Economics & Policy Compute Stocks

China Ministry of Commerce (MOFCOM)

In plain wordsChips need rare metals that China mostly controls, so one trade decision can squeeze supply fast.

China's ban on gallium, germanium and antimony exports to the U.S. (MOFCOM No. 46) is paused until Nov 27, 2026 (MOFCOM No. 72).

Source · Dec 3, 2024; pause announced Nov 9, 2025 VERIFIED

Gallium, germanium and antimony go into chips. If China's pause ends, supply to U.S. buyers could tighten quickly.

• Nov 27, 2026 · China's pause on the gallium/germanium/antimony ban ends VERIFIED · Source

Topics: Economics & Policy Raw Materials Compute Stocks

U.S. Dept. of Energy

In plain wordsData centers need new grid gear, and most big transformers come from abroad, so trade and permit rules set how fast power gets built.

DOE: 82% of large power transformers used in the U.S. in 2019 were imported; lead times are often about 3 years, up to 5.

Source · Jul 2024 VERIFIED

Most big U.S. transformers are imported and take years to deliver, so trade and permit rules set how fast data centers can get power.

No checked date yet.

Topics: Economics & Policy Power Raw Materials Stocks

U.S. Congress / White House (GENIUS Act, Public Law 119-27)

In plain wordsStablecoins are digital dollars, and this law sets the rules for who can issue them and what backs them.

The GENIUS Act, the first U.S. federal law for payment stablecoins, was signed July 18, 2025. It takes effect on the earlier of 18 months after enactment or 120 days after regulators issue final rules (Sec. 20).

Source · Jul 18, 2025 VERIFIED

The law sets who can issue dollar stablecoins and what must back them, which shapes how stablecoins such as USDC and RLUSD operate in the U.S.

• By Jan 18, 2027 at the latest · GENIUS Act takes effect (earlier if final rules come out sooner) VERIFIED · Source
• UNVERIFIED The date is worked out from the law's text (Sec. 20). Whether final rules have been issued yet was not checked.

Topics: Economics & Policy Crypto

White House OSTP (AI Action Plan)

In plain wordsPermit rules decide how fast new data centers and chip factories can be built and hooked up to power.

On July 23, 2025 the White House released its AI Action Plan. It lists over 90 federal actions, including faster permits for data centers and chip fabs, and AI export packages for allies.

Source · Jul 23, 2025 VERIFIED

Faster permits for data centers and chip factories change how quickly new AI capacity can be built and connected to power.

No checked date yet.

Topics: Economics & Policy AI Compute Power