Companies are increasingly using AI to conduct job interviews, and, according to experts in the field, the technology is leading to some impressive results. However, giving candidates the choice between an AI interviewer or a human can create bias that makes landing a job tougher for some people, according to a new report.
AI is now a common part of the job application process. According to the World Economic Forum, around 88% of employers use some form of AI for initial candidate screening such as filtering or ranking job applications. But AI is also being used to conduct interviews. Currently, around 21% of U.S. companies use the technology for initial interviews.
AI interviewers can give companies an edge when during the hiring process. One study found that candidates who were interviewed by an AI were more likely to land a job than candidates who were sourced by humans screening résumés: 54% of candidates interviewed by AI got the job, compared to about 29% of candidates sourced by a traditional résumé screening.
Still, there is a lot to learn about how utilizing AI interviews impacts both people and firms. Brian Jabarian, a researcher at the University of Chicago Booth School of Business with doctorates in economics and philosophy, recently examined what happens to candidates when they are offered a choice between an AI interviewer and a human interviewer, which he detailed in his paper, Choice as Signal: Designing AI Adoption in Labor Market Screening. The research, which has not been peer reviewed, finds giving candidates a choice between a human and AI interview could also create a new hurdle for low-ability candidatesapplicants whose skills are below the firms hiring threshold.
Jabarian tells Fast Company that different applicants will automatically be drawn to either AI interviewers or human interviewers based on their strengths. For example, “applicants with strong language skills prefer human interviewers to highlight their English proficiency,” he says. “In contrast, applicants with strong analytical skills choose the AI interviewer to showcase their quantitative strengths.”
But the choice isn’t neutral, like a candidate may expect it to be. An applicants decision to be interviewed by a human or an AI agent can reveal private information about their strengths, weaknesses, or expectations for relative performance, Jabarian writes in his paper, also pointing out that employees with high abilities benefit because companies can identify them more easily “using both the signal and the selection decision, increasing their probability of being hired.
However, it also means firms are able to more easily identify low-ability workers. Jabarian writes: “Consequently, low-skilled workers succeed less often in obtaining a job and therefore experience a welfare loss.” Essentially, by interpreting both the choice itself as well as the information from the interview, an employers precision increases, which doesn’t serve lower-ability candidates.
Jabarian says if firms had no insight into the candidate’s choice, then all workers would have the advantage of choosing which interviewer best shows their skill set, but companies would lose out on the advantages of using AI interviewers.
While on the surface giving job candidates choices about how they are interviewed seems like a solid idea, Jabarian says that in practice, it’s not quite so simple. “Before this new paper, I was really rooting for giving this choice to people because I was confused about why everyone was assuming it was just okay to impose a new technology on people in a high-stakes environment when they maybe didnt want it,” he explains. However, now he believes it’s clear that the choice alone hurts the weakest candidates, and therefore it shouldn’t be one that is routinely offered but rather “on a case-by-case basis.”
Jabarian says he expects AI interviewing to increase, particularly because its good for firms. Still, that doesn’t mean humans as interviewers are a thing of the past or irrelevant. AI interviewers and humans have different strengths: Human recruiters can improvise and are able to vary their interviews, while AI creates a consistent experience and is excellent at garnering information from candidates. That means adopting hybrid techniqueswhere humans and AI run interviews with opposing purposesmight really be the smartest and fairest way to hire.
The Trump administration is planning to buy a direct stake in yet another chip technology company. Earlier this week, the Commerce Department announced that it had signed a letter of intent to buy up to $150 million of xLight, a startup that focuses on lithography, a critical part of the semiconductor-manufacturing process.
The move shows that the governments nearly $9 billion dollar investment in Intel — for 10 percent stake in the company structured as a silent partnership — wasnt a one-off, and that officials are moving forward with plans to buy equity in technology companies it deems critical.
As part of the latest deal, the startup will receive tens of millions in exchange for developing a prototype that would use free-laser electron technology to manufacture chips. The approach, if successful, would be a big deal, since it could provide an alternative to lithography equipment made by the Dutch company ASML, which is practically the only choice for chipmakers.
For the US government, the hope is that the xLights technology could help produce extremely tiny — and highly sought after — transistors.
“The right shareholder?”
Under the Trump administration, the government has rapidly increased its ownership shares in private companies — a controversial strategy.
A good number of conservative economists believe the government shouldnt be getting so involved in the private sector. Theres also concern that current investments dont reflect a consistent strategy, and could veer into favoritism for political friends. The Trump administration may also be risking taxpayer money as well, since theres no guarantee industrial policy investments will actually pan out.
Is the government really going to be the right shareholder to help these companies succeed? Is the government going to start showing favoritism to these companies over companies that it doesnt own? Peter Harrell, from the Carnegie Endowment for Peace, recently told PBS. What are the kind of political requirements that are going to be put on companies that the government is taking an ownership in?
In addition to xLight and Intel, new federal government investments now include millions in equity in mineral and steel firms, according to the New York Times. There were reports earlier this year that the Trump administration might even take a direct stake in quantum computing companies, though, when Fast Company asked, a senior official denied them.
Further CHIPS entanglements
Its true that Intel was unlikely to return to its former status as a leader in chips manufacturing based on the billions it would have received under the Biden administration alone, said one former employee at the Commerce Department-based CHIPS office, which was created under the CHIPS Act and helped oversee massive new subsidies for semiconductor companies.
Still, the Trump administration buying direct equity in the company doesnt really achieve that goal, the person said. There might be a world in which the governments equity in xLight and Intel work in tandem, the person added. But do we really want the government telling Intel to use the startup the government invested in? (Notably, Pet Gelsinger, the former CEO of Intel, leads xLights board.)
Regardless, xLight may not be the last of the Trump administrations investments in chip companies. This past September, the Chips Research and Development office, housed within the Commerce Department, released a broad agency announcement sharing that entities could apply for awards meant to boost the countrys microtechnology industry. That announcement stipulated that awardees might need to give the government equity, warrants, licenses to intellectual property, royalties or revenue sharing, or other such instruments to ensure a return on investment to the Government.
Apple just lost a top design talent.
Meta has hired Alan Dye, who was the head of Apple’s human interface design team. The company is filling his position with Stephen Lemay, who CEO Tim Cook told Bloomberg “has played a key role in the design of every major Apple interface since 1999.”
Before being poached by Meta to become its chief design officer, Dye worked at Apple since 2006, where he oversaw projects including Liquid Glass and Vision Pro. By the end of his tenure, Dye reported directly to Cook.
His departure is the latest in a game of musical chairs for top design roles at Apple. Apple’s former longtime chief design officer Jony Ive left the company in 2019, and his replacement, Evans Hankey, left in 2022 and wasn’t replaced. On the org chart, the remaining members of Apple’s industrial design team reported to COO Jeff Williams.
Bloomberg reports that Dye will be creating a new design studio at Meta, where he’ll oversee the design for hardware, software, and AI integration for its interfaces. For Meta, Dye’s hiring is proof the company is serious about designing hardware that can compete in the ongoing race to build the first great AI gadget. It will put him in direct competition with his former colleague Ive, whose company io was bought by OpenAI in May for $6.4 billion with the goal of building the next great user interface.
New research now suggests that our brains are still in the teenage phase until we “peak” in our early thirties.
Researchers from the University of Cambridge looked at scans from around 4,000 people up to the age of 90 to reveal the connections between their brain cells. Rather than progressing steadily over our lifetimes, research published in the journal Nature Communications suggests our brain goes through five distinct phases in life, with key turning points happening at ages nine, 32, 66, and 83.
The first stage, from birth to nine, sees the brain rapidly increasing in size. Around age nine, the adolescent phase begins as the brain works on increasing its efficiency. This is the stage when there is the greatest risk of mental health disorders beginning.
Many neurodevelopmental, mental health, and neurological conditions are linked to the way the brain is wired, said senior author Dr. Duncan Astle, professor of neuroinformatics at Cambridge. Indeed, differences in brain wiring predict difficulties with attention, language, memory, and a whole host of different behaviours.
The most surprising takeaway from the study is that the adolescent phase lasts far longer than expected. Based on how the brain forms connections, this phase lasts until roughly age 32. That means that while youre trying to get your act together in your 20s, your brain is pretty much still a teenager.
(Important to note is this distinction is based on the brains efficiency at making connections, not a sign of arrested development or an excuse to act like a manchild).
At 32, the biggest shift kicks in. The brain hits a period of peak efficiency, meaning regions of the brain are using the most direct pathways to communicate. This marks the transition into adulthood, which is the longest and most stable stretch of brain development.
Studies have shown that personality and intelligence also stabilize during this time. Despite headlines about college drop-out entrepreneurs, the average age for successful entrepreneurs sits squarely in this developmental stageat 45 years old.
Approaching the age of retirement, at age 66 a third turning point marks the start of an early aging phase. Here, the pace of neural network changes in the brain starts to slow as white matter begins to decline.
Finally, at around 83 years old the late aging brain takes shape. Brain connectivity between different regions declines further, and people tend to fall back on certain well-trodden neural pathways and regions.
Looking back, many of us feel our lives have been characterised by different phases. It turns out that brains also go through these eras, said Astle, who was a senior author of the research.
Understanding that the brains structural journey is not a question of steady progression, but rather one of a few major turning points, will help us identify when and how its wiring is vulnerable to disruption.
If you feel like you spent more time sitting in traffic this year than last, youre not alone.
Across the United States, drivers lost 49 hours to traffic congestion in 2025, a six-hour increase from the year prior, according to a new report from transportation analytics company INRIX.
From Chicago to Philadelphia and Boston to Tampa, congestion increased in 254 of the 290 cities INRIX analyzed.
But in New York, a city practically synonymous with gridlock, congestion stayed flat.
Start spreading the news
INRIX says the anomaly is likely due to congestion pricing, a program that charges drivers tolls when they enter certain, often gridlocked, areas of Manhattan.
New Yorks congestion pricing program went into effect January 5. Just one month later, a million fewer vehicles entered the congestion zone than they would have without the toll, according to the citys Metropolitan Transportation Authority.
That mitigation effort likely contributed to New York losing its top spot on NRIXs 2025 Global Traffic Scorecard. This year, New York City ranked as the second most congested U.S. city, down from number one in 2024.
In 2024, five New York City roads made INRIXs top 25 busiest corridors list. In 2025, just one remained: a section of I-278, also called the Brooklyn Queens Expressway (which is not in the citys congestion pricing zone).
Delays increased across the country
New York is still heavily congested: Drivers there lost 102 hours of the year to congestion.
But while delays there stayed stagnant, in other cities, traffic surged. Out of INRIXs 25 top urban areas for traffic, 13 saw double-digit percentage increases when it came to delays.
Chicago, which beat out New York to become the top U.S. city for traffic, saw drivers lose 112 hours lost to congestion, a 10% increase from 2024.
Delays increased 13% year over year in Atlanta, Georgia; 18% in Austin, Texas, and 31% for both Baltimore and Philadelphia.
window.addEventListener("message",function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data["datawrapper-height"][t]+"px";r.style.height=d}}});
INRIX did notice one positive trend when it comes to U.S. driving patterns: After increasing for four years in a row, traffic fatalities declined. In the first half of 2025, there were just over 17,000 on U.S. roadways, similar to 2019 levels. (First half of the year fatalities were around 20,000 in 2021 and 2022.)
Why is traffic so bad?
A lot of factors go into traffic. For instance, after millions of Americans shifted to working from home during the pandemic, many have since shifted back. Now just 13% of people work from home.
More than three-fourths of city dwellers commute by car; only 4% take public transit. In cities across the country, public transit options are often inadequate for commuters needs.
Compared to cities around the world, which are investing in rail, America is behind, even as it deals with outdated infrastructure, including bridges and highways. When these upgrades are pushed back, delays increase.
Housing is another issue that can affect how long a driver spends sitting in their car. In the least affordable cities, residents have to decide between longer commutes or higher rents, INRIX says.
Traffic costs drivers time, and money
For drivers, traffic is more than just an annoyance. Time is money, and INRIX calculates that the typical 49 hours of delays across the U.S. means $894 worth of time lost per driver.
Across the country, congestion cost the U.S. more than $85 billion in 2025, up 11.3% from 2024.
Congestion pricing costs New York drivers too, in a more direct way, but it comes with other benefits.
Halfway through the year, the citys congestion pricing program generated $216 million from tolls; officials aim to raise $500 million from the programs first full year.
But in exchange for that money, New Yorkers got back some time they would have otherwise spent sitting in their carsas much as 21 minutes each way. And the city saw economic benefits, like increased pedestrian activity and time and cost savings for business deliveries.
Even before this years Spotify Wrapped dropped, I had a hunch what mine would reveal.
Lo and behold, one of my most-listened-to songs was an obscure 2004 track titled Rusty Chevrolet by the Irish band Shanneyganock. I heard it first thanks to my son, whose friend had been singing it on the swings at school. My son found it utterly hilarious, and its been playing in our house nonstop ever since.
Like parents all over the world, I rue how my sons musical tastes have hijacked my listening history. But Im also tickled to learn that our household is probably one of the few even listening to it.
[Photo: Spotify]
Spotify Wrapped is an annual campaign by the popular streaming music platform. Since 2015, the streaming service has been repackaging user dataspecifically, the listening history of Spotifys users over the past yearinto attractive, personalized slideshows featuring, among other data points, your top five songs, your total listening time, and even your listening personality. (Are you a Replayer, a Maverick or a Vampire?)
As a consumer behavior researcher, Ive thought about why these lists get so much attention each year. I suspect that the success of Spotify Wrapped may have a lot to do with how the flashy, shareable graphics are connected to a couple of fundamentaland somewhat contradictoryhuman needs.
[Image: Spotify]
Individuality and belonging
In 1991, social psychologist Marilynn Brewer introduced what she coined optimal distinctiveness theory.
She argued that most people are torn between two human needs. On the one hand, theres the need for validation and similarity to others. On the other hand, people want to express their uniqueness and individuation. Thus, most of us are constantly striving for a balance between feeling connected to others while also maintaining a sense of our own distinct individuality.
At Thanksgiving, for example, your need for connection is likely more than satisfied. In that moment, youre surrounded by family and friends who share a lot in common with you. In fact, it can feel so fulfilled that you may start craving the opposite: a way to assert your individuality. Maybe you choose to wear something that really reflects your personality, or you tell stories about interesting experiences youve had in the past year.
In contrast, you may feel relatively isolated when you move to a new town and feel a stronger need for connection. You may wear the styles and brands you see your neighbors and co-workers wearing, pop into popular cafes and restaurants, or invite people over to your home in an effort to make new friends.
[Image: Spotify]
Have it your way
When people buy things, they often make choices as a way to satisfy their needs for connection and individuality.
Brands recognize this and usually try to entice consumers with at least one of these two elements. Its partly why Coca-Cola started releasing bottles featuring popular names on the labels as part of its Share a Coke campaign. The soft drink remains the same, but grabbing a Coke with your name on it can cultivate a sense of connection with everyone else who has it. And its why Apple offers custom, personalized engravings for products such as its AirPods and iPads.
Spotify Wrapped works because it nails the balance between competing needs: the desire to belong and the desire to stand out. Seeing the overlap between your lists and those of your friends fosters a sense of connection, and seeing the differences is a signal of your (or your kids!) unique musical taste. It gives me a way to say, Sure, Ive been listening to Soda Pop nonstop like everyone else. But Im probably the only one playing ‘Rusty Chevrolet on repeat.
The Wrapped campaign is also smart marketing. Spotify turns listeners unique, personal listening data into striking visuals that are tailor-made for posting to social media accounts. Its no wonder, then, that the Wrapped feature has led to impressive engagement: On TikTok, the hashtag #SpotifyWrapped garnered 73.7 billion views in 2023. The annual campaign has earned numerous honors, including a Cannes Lion and several Webby Awards, otherwise known as the Oscars of the Internet.
Its been so successful that its inspired a wave of copycats: Apple Music, Reddit, Uber, and Duolingo now release similarly personalized year-in-reviews.
None, however, has managed to achieve the same level of cultural impact as Spotify Wrapped. So whats on your list? And will you brag, hide or laugh at what it says about you?
[Photo: Spotify]
Ishani Banerji is a clinical assistant professor of marketing at Clemson University.
This article is republished from The Conversation under a Creative Commons license. Read the original article.
The U.S. stock market is drifting near its record levels on Wednesday following mixed reactions to profit reports from Macy’s, Marvell Technologies, and other companies.
The S&P 500 rose 0.2% and pulled within 0.7% of its all-time high set in late October. The Dow Jones Industrial Average was up 174 points, or 0.6%, as of 11:50 a.m. Eastern time, and the Nasdaq composite was virtually unchanged.
Marvell rose 4.1% after the supplier of semiconductor products delivered a stronger profit for the latest quarter than analysts expected. CEO Matt Murphy credited strong demand for its data center products, while also announcing a $3.25 billion purchase of Celestial AI to bolster its artificial-intelligence infrastructure business.
American Eagle Outfitters was another winner and rallied 16.1% after the retailer reported a better profit than expected. Its CEO, Jay Schottenstein, said it also saw a strong start to the holiday shopping season with an acceleration in demand across its brands during the Thanksgiving weekend.
Outside of earnings reports, Capricor Therapeutics surged 352% after the biotech company reported encouraging results for its potential therapy for people with Duchenne muscular dystrophy.
On the losing end of Wall Street were relatively few companies, including one out of every three stocks in the S&P 500 index. But among them were some of the market’s most influential stocks, which kept indexes in check.
Microsoft fell 2% and was the heaviest weight on the S&P 500. Nvidia slipped just 0.4%, but because it’s the most valuable stock on Wall Street, it was another one of the heaviest weights dragging on the index.
Macys fell 1% despite reporting a profit for the latest quarter that was much better than the loss that analysts were expecting. Its stock may be feeling the pressure of high expectations after it came into the day with a rally of 34.1% for the year so far, more than double the S&P 500s rise.
CrowdStrike slipped 0.5% despite topping analysts expectations for profit. It too came into the day with a big gain for the year so far, raising the stakes, at 51%.
In the bond market, Treasury yields eased after a report suggested U.S. employers outside of the government may have cut more jobs in November than they added.
The data from ADP was much weaker than economists expected, but it has not had a perfect track record predicting what the more comprehensive jobs report from the U.S. government will say each month.
Wednesdays data may be discouraging for people looking for jobs, but it also keeps alive expectations that the Federal Reserve will cut its main interest rate next week. If the Fed does, that would be the third such cut this year in hopes of bolstering the slowing job market.
A report later in the morning on activity for U.S. services business was more encouraging. It said growth was stronger last month than expected for businesses in the retail, finance, insurance, and other industries.
Perhaps just as important was that the Institute for Supply Management’s survey also said prices were increasing at their slowest rate since April. That could help the Fed because fears of high inflation are the main argument against cutting interest rates.
The yield on the 10-year Treasury fell to 4.07% from 4.09% late Tuesday.
Easing bond yields can boost prices for all kinds of investments, and bitcoin climbed again to top $92,000 following its scary downward run in recent weeks. It briefly plunged below $81,000 last month.
In stock markets abroad, indexes were close to flat in Europe following a mixed finish in Asia.
Japans Nikkei 225 jumped 1.1% on gains for technology stocks like Tokyo Electron, which jumped 4.7%. SoftBank Group Corp. leaped 6.4% following reports that its founder, Masayoshi Son, regretted having to sell shares in computer chipmaker Nvidia to help pay for other investments.
Chinese indexes sank following the release of data showing weaker factory activity. Stocks fell 1.3% in Hong Kong and 0.5% in Shanghai.
Stan Choe, AP business writer
AP Business Writers Matt Ott and Elaine Kurtenbach contributed.
The Food and Drug Administration (FDA) has once again expanded its warning on certain brands of imported cookware, this time adding nine additional products that may leach significant levels of lead into food.
That list of cookware has grown significantly since the FDA issued its original alert, which was updated twice, after tests found certain brass and aluminum cookware (known as Hindalium/Hindolium or Indalium/Indolium) could be leaching lead into food when used for cooking or food storage, making it unsafe to eat.
The FDA investigation remains ongoing, and the agency said it will be adding additional products to the list as needed.
Here’s what you need to know.
Is lead dangerous to health?
Yes. Lead is toxic for humans, and even low levels can cause serious health problems.
Children, women of childbearing age, and those who are breastfeeding could be at higher risk after eating food from cookware that leaches lead. Babies and kids are more susceptible to lead toxicity due to their smaller size, metabolism, and rapidly developing bodies, according to the FDA.
Which cookware is listed in the FDA’s expanded warning?
As Fast Company previously reported, the FDA’s original recall warning on August 13 was issued for Saraswati Strips Pvt. Ltd., an Indian aluminum cookware company that sells Tiger White brand cookware.
In September, three additional products were added to the list, including Silver Horse cookware distributed by Patel Brothers, and JK Vallabhdas products distributed by the Indian supermarket chain Indiaco.
Since then, the FDA has added nine additional products to the list.
Those product details are as follows:
Brand and product name: Sonex Aluminum, Pot, an ISO 9001:2000 5 certified company
Retailer: Alanwar Food Corp. (Balady Foods) 7128 5th Ave Brooklyn, NY
Manufacturer: Sonex Cookware 60-61 / A, Small Ind. Estate #2 Gujranwala, Pakistan
Recall status: Recall initiated on 11/18/25.
Brand and product name: IKM Aluminum Saucepan(7023672411878 Aluminum Pan 2 Size Pouted Wooden Handle 9)
Retailer: India Metro Hypermarket, 5130 Mowry Ave Fremont, CA
Manufacturer: SM Foods, New Delhi, India
Recall status: Distributor agreed to recall on 11/19/25.
Brand and product name: Brass Tope
Retailer: India Metro Hypermarket, 5130 Mowry Ave Fremont, CA
Manufacturer: Kraftwares (India) Ltd. Mumbai, India
Recall status: Distributor agreed to recall on 11/19/25.
Brand and product name: Aluminum Kadai Size 5 A cook brand
Retailer: India Metro Hypermarket, 5130 Mowry Ave Fremont, CA
Manufacturer: Kraftwares (India) Ltd. Mumbai, India
Recall status: Distributor agreed to recall on 11/19/25.
Brand and product name: IKM 4-Quart Pital Brass Pot(7023672414398 Brass Hammered Handi No 3)
Retailer: INDIA CASH AND CARRY, 39175 Farwell Dr Fremont, CA
Manufacturer: JSM Foods, New Delhi, India
Recall status: Distributor agreed to recall on 11/19/25.
Brand and product name: Silver Horse Aluminum Coldero 28
Retailer: Punjab Supermarket & Halal Meats, 8767 Philadelphia Road Rosedale, MD
Manufacturer:
Recall status: FDA notified retail location of sample results.
Brand and product name: Silver Horse Aluminum Coldero 28 (765542732177 Aluminium Degda 20)
Retailer: Punjab Supermarket & Halal Meats, 8767 Philadelphia Road Rosedale, MD
Manufacturer:
Recall status: FDA notified retail location of sample results.
Brand and product name: Silver Horse Aluminum Degda 24
Retailer: Punjab Supermarket & Halal Meats, 8767 Philadelphia Road Rosedale, MD
Manufacturer:
Recall status: FDA notified retail location of sample results.
Brand and product name: Chef Milk Pan 24 cm (Milk Pan 24 cm MF 0732131905632)
Retailer: Punjab Supermarket & Halal Meats, 8767 Philadelphia Road Rosedale, MD
Manufacturer: Shata Traders, 10227 Avenue D, Brooklyn, NY 11236
Recall status: Distributor agreed to recall on 11/19/25.
FDA recommendations
According to the FDA, consumers should check their homes for the cookware and throw it away. Do not donate or refurbish it.
Consumers who are concerned they may have been exposed to lead or elevated levels of lead should contact their healthcare provider.
Retailers and distributors are encouraged to consult with the FDA regarding the safety and regulatory status of any products used in contact with food that they market or distribute.
Additional questions can be sent to the FDA via email at premarkt@fda.hhs.gov.
Treasury Secretary Scott Bessent said Wednesday he would push a new requirement that the Federal Reserve‘s regional bank presidents live in their districts for at least three years before taking office, a move that could give the White House more power over the independent agency.
In comments at the New York Times’ DealBook Summit, Bessent said that there is a disconnect with the framing of the Federal Reserve and added that, unless someone has lived in their district for three years, we’re going to veto them.
Bessent has stepped up his criticism of the Fed’s 12 regional bank presidents in recent weeks after several of them made clear in a series of speeches that they opposed cutting the Fed’s key rate at its next meeting in December. President Donald Trump has sharply criticized the Fed for not lowering its short-term interest rate more quickly. When the Fed reduces its rate it can over time lower borrowing costs for mortgages, auto loans, and credit cards.
The prospect of the administration vetoing regional bank presidents would represent another effort by the administration to exert more control over the Fed, an institution that has traditionally been independent from day-to-day politics.
The Federal Reserve seeks to keep prices in check and support hiring by setting a short-term interest rate that influences borrowing costs across the economy. It has a complicated structure that includes a seven-member board of governors based in Washington as well as 12 regional banks that cover specific districts across the United States.
The seven governors and the president of the New York Fed vote on every interest-rate decision, while four of the remaining 11 presidents vote on a rotating basis. But all the presidents participate in meetings of the Fed’s interest-rate setting committee.
Bessent argued last month in an interview on CNBC that the reason for the regional Fed banks was to bring the perspective of their districts to the Fed’s interest rate decisions and break the New York hold on the setting of interest rates.
But now, he said last month, three, maybe four of the Fed presidents were appointed from outside their districts, with some living in New York.
Im not sure thats the way the Federal Reserve was designed, he said in the interview.
Christopher Rugaber, AP economics writer
As the “fourth wave” of coffee begins to take shape, companies that are embracing modernand, increasingly, automatedcoffee making are working to balance their tech with the craft of brewing. Terra Kaffe is one of them.
The companyknown for its pricey, hypermodern automatic espresso machine TK-02revealed its first brand expansion with the August launch of Demi, a miniature version of its flagship product. Now, it’s launching a slate of accessories to complement its machines and to move the brand out of startup mode and help establish itself as a serious competitor in the world of coffee gadgets.
[Photo: Terra Kaffe]
The accessories, which will be rolling out into early 2026, include a countertop milk frother with a matcha setting, a line of double-walled conical glassware, tumblers for taking your coffee on the go, a quick-brewing cold brew maker, an ice cube tray, and a drip coffee potall of which are meticulously designed in the brand’s signature modern style to integrate seamlessly into the entire Terra Kaffe ecosystem. The accessories give existing Terra Kaffe owners a way to enhance their experience with the machine while providing newcomers a wider entry point into the brand.
We’ve evolved into the next stage in this company’s life cycle. Now were a true lifestyle brand offering a myriad of options to serve all coffee lovers, Terra Kaffe founder and CEO Sahand Dilmaghani says. Every product has a foundation of seamlessness in the experience, elevating the way you go about your morning ritual.
[Photo: Terra Kaffe]
Creating an Ecosystem
When Terra Kaffe released Demi, the compact machine delivered on size for those with minimal counter space, as well as cost, coming in at $795, less than half the price of the TK-02. But the machines smaller profile requires a trade-offnot being able to produce a milk-based drink (the TK-02 can produce lattes, cappuccinos and flat whites). Thats why the company saw an opportunity for its standalone Aero milk frother.
The stainless steel Aero enables users to do one thing better than even the TK-02: make matcha. Its spinning technology whisks the matcha if you pour in the powder and place it under the machines spout for hot water. A built-in setting automatically stops whisking at the ideal time. (If youre old-school, you can still whisk your matcha with a bamboo whisk, then add milk from the Aero, which has a built-in temperature setting for the beverage.)
[Photo: Terra Kaffe]
Everything is complementary, Dilmaghani says. Were creating things to constantly improve the whole experience and tie a bow around it.’
With the new accessories line, the company was also able to broaden the scope of its machines beyond making single-serve drinksand do it in style. For Terra Kaffe users serving a crowd, it added a Drip Coffee Carafe, and while the Demi can brew a pot out of the box, the company is pushing a new setting that will enable the TK-02 to do so as part of the machines first major software update.
[Photo: Terra Kaffe]
While the TK-02 has an option that creates coffee optimized for iced coffee, it does not have an option to dispense the coffee cold, creating an opportunity for the Ripple ice tray, which makes four ice pucks that fit into the new line of tumblers.
In early 2026, Terra Kaffe will roll out a way to make cold coffee quickly with a cold brew maker that it says will cut the roughly 18- to 24-hour process into minutes, and could be a way into the Terra Kaffe ecosystem for people who prefer cold drinks. The product uses a rotating force to rotate water through the coffee bed quicker. There’s no pressure associated with it, so it’s the same brewing methodology, Dilmaghani explains. But the technology we’re building actually accelerates the cold brew extraction process.
[Photo: Terra Kaffe]
Form and function
A child of two architects, Dilmaghani says he places design on an equal pedestal as functionality, and time spent living in Berlin brought German design inspiration to his work. He channelled all of those inspirations for his coffee brand. Terra Kaffes brand identity and design language have a consistent throughline of geometric modernity, pulling from Bauhausian design principles, he says. Every single millimeter of the products are intentionally designed. The dials, the proportion to the base, how you engage with itthose are the details people subconsciously enjoy even if they don’t consciously acknowledge.
With its name that means “earth” and its water droplet logo, Terra Kaffe is working to evoke nature with its products as it expands. The TK-01 is only available in black and white, while the Demi is sold in brownish Dune, Slate grey, Forest green, and Cloud blue earth tones. The ice trays are also available in Dune and Cloud, its Aeris tumblersavailable in three sizesrange from grey Smoke to amber Mairgold and burnt orange Sienna
[Photo: Terra Kaffe]
Minimalism doesnt mean plain, Dilmaghani says. Everything that you engage with stems from a place of evoking a certain feeling. That’s why, for us, everything goes back to precision, modernity and warmth.
Despite releasing nearly two dozen products of different sizes and colors just this year, Terra Kaffe has more significant plans in the next year and beyond to mark its rising dominance in the home coffee tech space.
We make sure that every touchpoint you engage with is inviting, Dilmaghani says. The expansion of the peripheral products continues that thread.
