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Cohutta mayor cites family health issues in resignation letter as town weighs next steps
The mayor of Cohutta says family health concerns played a major role in his decision to step down.NewsChannel 9 obtained a copy of Mayor Ron Shinnick’s resignat
Democratic leadership needs to stop with the Goldilocks politics
Despite the current political climate, Democrats are struggling to take a stand on important issues, leading to individual candidates rising in popularity by taking their own stands and calling for…
Problematic hinge could delay the iPhone Fold
A new rumor claims that the iPhone Fold's reported testing delays are because of significant issues with the hinge that could prevent Apple from launching it in 2026.
Could A Simple Lab Mistake Lead Scientists to Over-Estimate Microplastics?
While microplastics are a very real issue, one new study suggests that the numbers might not be quite as bad as we've feared.
Could A Simple Lab Mistake Lead Scientists to Over-Estimate Microplastics?
While microplastics are a very real issue, one new study suggests that the numbers might not be quite as bad as we've feared.
New MatterChat Model Helps AI to ‘See’ the Language of Science
From writing emails to generating computer code, much of the artificial intelligence prevalent in our daily lives has succeeded by mastering one domain: text. However, this leaves a major blind spot in the physical sciences, where models depend on the high-resolution, three-dimensional data of the physical world, like the intricate lattice of atoms in a crystal. Delivering on the promise of using AI for science requires teaching these data-driven text models to seamlessly “talk to” physics-based models. Now, a new AI framework from Lawrence Berkeley National Laboratory (Berkeley Lab), called MatterChat, solves this problem by creating a specialized “bridge.” It connects the conversational power of a Large Language Model (LLM) with a physics-based AI that models “interatomic potentials”: the complex physical forces between atoms. The resulting system already significantly outperforms general-purpose AI tools like GPT-4 at predicting material properties, and the team hopes it can accelerate scientific discovery by serving as a robust research partner that provides grounded insights and generates step-by-step instructions for synthesizing novel materials. A paper describing this work was recently published in Nature Machine Intelligence. “Traditional simulations can provide the physical rigor required for materials science, yet their computational cost remains prohibitive for high-throughput screening. Conversely, while LLMs excel at rapid knowledge synthesis, they inherently lack the ‘structural vision’ to interpret materials directly from their underlying atomic coordinates,” said Yingheng Tang, a postdoctoral researcher in Berkeley Lab’s Applied Math and Computational Research Division (AMCR) and lead author on the paper. “MatterChat was built to solve this dilemma, empowering LLMs with a structural ‘vision’ that allows researchers to leverage their full potential for solving complex, real-world materials challenges.” Empowering language models to solve complex challenges in materials science To build MatterChat, the Berkeley Lab team drew inspiration from technologies like Vision Question Answering (VQA) and Text-to-Image (T2I) generation. In these tasks, AI must translate high-level text concepts into visual images, or vice versa. Doing so requires developers to build tools that “bridge” two fundamentally different forms of data. The researchers adapted this concept to the physical sciences. With MatterChat, they created a “bridge model” that successfully connects an LLM’s general knowledge with the deep understanding of the atomic-scale world encoded in scientific interatomic potentials. Until now, researchers using LLMs to solve materials problems usually had to feed them raw data files as if they were just strings of text. It’s like asking an AI to understand a complex 3D engine based only on a parts list: the LLM can read the names, but it can’t “see” how the atoms fit together in space. MatterChat solves this by training a specialized AI bridge model, pre-trained on millions of crystal structures and an LLM, to align the LLM’s representation of the world with the interatomic potential’s representation of the world. The bridge model can translate physical insights into a format the LLM can actually understand. By giving the LLM these “scientific eyes”— a scientific “inductive bias” in the terminology of AI — the Berkeley Lab team has transformed it into a robust research tool capable of providing grounded scientific insights into complex materials challenges, such as predicting thermal stability or analyzing electronic band gaps. “We think of atoms as living in a physical space, but from a machine learning perspective, they are just vectors living in some very non-trivially structured manifold in a high-dimensional Euclidean space; and, of course, the same is true for the sentences and paragraphs that we use to express our ideas about those atoms,” said co-author Michael Mahoney, Berkeley Lab’s Scientific Data Division (SDD) AI Initiative Research Lead. “The bridge model basically gets those two structures to ‘talk with’ each other.” As a proof-of-concept of this general approach, the team trained their bridge model on a dataset curated by pairing nearly 143,000 stable atomic structures from the Materials Project with their corresponding physical properties. This training data was automatically assembled using the Materials Project’s API and deliberately enriched with properties fundamental to microelectronics design — like formation energy and bandgap — allowing MatterChat to learn the complex patterns connecting a material’s atomic blueprint to its functional performance. To validate their model, the researchers benchmarked MatterChat against a suite of other AI systems, from general-purpose LLMs to other specialized scientific AI methods. The results show that MatterChat consistently outperformed its competitors across a range of tasks. The model was more accurate in classifying material types and demonstrated superior precision in predicting numerical properties. For example, it excelled at predicting a material’s bandgap, a property critical for designing new electronics from high-capacity energy storage to next-generation computer chips. “Our design is significantly more efficient because we don’t have to build a massive AI model from the ground up,” said co-author Zhi (Jackie) Yao, a research scientist in Berkeley Lab’s AMCR. “Instead, we take two powerful, pre-trained models — a structural encoder for materials physics and an open-source LLM — and use them off-the-shelf. The only component we actually train is the lightweight ‘bridge model’ that translates between them. It’s the difference between building an entire car factory and simply designing a smart adapter that connects a world-class engine to a world-class navigation system. This approach is not only computationally efficient, but also makes the system modular, so we can easily upgrade components or adapt the bridge for other scientific domains in the future.” Crucially, this modular design highlights exactly how institutions like Berkeley Lab and the Department of Energy are carving out a highly valuable niche in the booming AI landscape. Rather than competing with Silicon Valley tech giants to build ever-larger language models from scratch, the lab is focusing on the specialized connective tissue that makes commercial AI useful for hardcore science. Because the bridge model approach underlying MatterChat is forward-compatible, it is perfectly positioned to leverage these parallel tracks of innovation. As Mahoney pointed out, “We expect that industry will continue to develop improved LLMs, and we expect domain scientists and facilities will continue to generate new data. An important part of scientific machine learning is not simply to solve problems on today’s data, but instead to develop general methods that will be forward-compatible with orders of magnitude more data, whether from scientific domains or from LLMs.” According to Yao, the MatterChat project, which was initially developed and enhanced with funding from a Berkeley Lab Laboratory Directed Research & Development (LDRD) Program, will now expand its capabilities. In a collaboration with Fermilab, MatterChat is already contributing to a U.S. Department of Energy Genesis Mission project — called Accelerating eXtreme Environment Specs-to-Silicon (AXESS) — that aims to speed up the development of next-generation, high-speed, radiation-hardened detectors for challenging particle physics experiments by using advanced 3D integrated circuits (chiplets) and AI-driven data analysis. In addition to the LDRD support, the team also credits supercomputing resources at the National Energy Research Scientific Computing Center (NERSC), located at Berkeley Lab, with MatterChat’s success. “We are incredibly grateful to NERSC; this research simply would not have happened without access to the Perlmutter supercomputer through their AI for Science program,” said Tang. Wenbin Xu, a NERSC postdoctoral fellow at the time, was also a major co-author of the work, as was Benjamin Erichson, a research scientist in Berkeley Lab’s SDD, highlighting the benefits of AMCR-SDD collaboration on AI for science. ### Lawrence Berkeley National Laboratory (Berkeley Lab) is committed to groundbreaking research focused on discovery science and solutions for abundant and reliable energy supplies. The lab’s expertise spans materials, chemistry, physics, biology, earth and environmental science, mathematics, and computing. Researchers from around the world rely on the lab’s world-class scientific facilities for their own pioneering research. Founded in 1931 on the belief that the biggest problems are best addressed by teams, Berkeley Lab and its scientists have been recognized with 17 Nobel Prizes. Berkeley Lab is a multiprogram national laboratory managed by the University of California for the U.S. Department of Energy’s Office of Science. DOE’s Office of Science is the single largest supporter of basic research in the physical sciences in the United States, and is working to address some of the most pressing challenges of our time. For more information, please visit energy.gov/science.
What’s Next for Artemis II AVATARs
Organ chips from Artemis II's AVATAR investigation have arrived at the laboratory at Emulate, Inc. in Boston, Massachusetts for analysis. The AVATAR (A Virtual Astronaut Tissue Analog Response) investigation uses personalized organ chips made from each astronaut's own cells to study the impacts of space radiation and microgravity on human health.
Prantl’s owner responds to health department consumer alert
Joe Cugliari, owner and president of Prantl’s Bakery, issued a statement following the Allegheny Health Department’s consumer alert regarding the bakery’s Walnut Street location in Shadyside. According to the department’s Thursday report, the bakery had a presence of rodent droppings on multiple surfaces, damaged exterior walls, soiled food equipment, old
Microsoft confirms Windows 11 security update install issues
Microsoft has confirmed that the May 2026 Windows 11 security update (KB5089549) fails to install on some systems and triggers 0x800f0922 errors.
Oil Prices Edge Higher as Cease-Fire Remains Tenuous
Oil prices rose after President Trump issued a new warning to Iran, calling into question the tenuous cease-fire in the war.
Greene predicts ‘political revolution in America’ if US troops sent to Iran
Former Rep. Marjorie Taylor Greene (R-Ga.), a former ally of President Trump who has since sparred with him over multiple issues, on Sunday predicted “political revolution in” the U.S. if there are…
Five Points businesses say IRONMAN road closures hurt access, customers; city promises better communication
Jacksonville’s first-ever IRONMAN brought nearly 2,000 competitors to a route spanning parts of Duval and St. Johns counties this weekend, drawing crowds downtown, and prompting widespread complaints about traffic, road closures and access issues in neighborhoods like Riverside’s Five Points.
Hims & Hers Health, Inc. Announces Proposed Convertible Senior Notes Offering to Support International Expansion and Accelerate AI-Driven Platform Investment
Proceeds intended to be used to preserve financial flexibility as Hims Hers executes on its international expansion strategy, including the proposed acquisition of Eucalyptus, invests in technology and operational infrastructure to drive anticipated cost efficiencies, and enhances the consumer experience with AI and its closed-loop data ecosystem. Hims Hers Health, Inc. (“Hims Hers” or the “Company”, NYSE: HIMS) today announced its intention to offer, subject to market and other conditions, $300 million aggregate principal amount of convertible senior notes due 2032 (the “notes”) in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Hims Hers also expects to grant the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an
Poor air quality could aggravate health issues for vulnerable Long Island residents
The Air Quality Index, which measures the level of five pollutants, hit 105 in the metro area, including Nassau and Suffolk counties.
The food recalls, alerts issued over salmonella concerns this month
Many of the items were linked to the same potentially contaminated ingredient.
‘Won’t be anything left’: Trump issues warning to Iran after national security team meeting
President Donald Trump met with top members of his national security team on Saturday to discuss the path forward on the Iran war, a source familiar with meeting told CNN, a day before he said Tehran “better get moving, FAST, or there won’t be anything left of them.”
5 Lexus Engines You Should Steer Clear Of
Discover which 5 Lexus engines you should steer clear of. We detail reliability issues with the 1MZ-FE, 4GR-FSE, 1UR-FSE, and the twin-turbo V35A-FTS.
Keyshawn Davis wins in Norfolk, then sets his sights higher
Keyshawn Davis is 15-0, he dominated Nahir Albright, and before he left the ring he called out Oscar Duarte and Devin Haney. The redemption arc is moving forward. Whether the weight issues are behind him is another question.
Senate parliamentarian nixes Trump’s ballroom fund in budget bill
The Senate official said the GOP bill needs to be reworked in order to comply with jurisdictional issues.
Labour leadership jostling puts Brexit back under political spotlight
The UK's relationship with the EU is shaping up as a key issue for a possible Labour leadership contest and the coming by-election in the Makerfield.
Story to be placed on injured list by Red Sox (report)
Trevor Story is expected to be placed on the injured list before the Red Sox's game against the Braves on Saturday night, according to a report from MassLive.com's Chris Cotillo. The club has not confirmed the news. The 33-year-old shortstop is believed to have been dealing with a groin issue
Blackstone seasoning blend recalled over possible salmonella contamination
Blackstone Products is recalling select lots of its Parmesan Ranch seasoning after a supplier-issued milk powder recall raised concerns about possible salmonella contamination.
Microsoft rejects critical Azure vulnerability report, no CVE issued
A security researcher claims Microsoft quietly fixed an Azure Backup for AKS vulnerability after rejecting his report, and without issuing a CVE. Microsoft disputes the claim, telling BleepingComputer the behavior was expected and that "no product changes were made," despite the researcher documenting a silent fix.
Morgan Stanley turns bullish on Ford's EV storage business
Ford Motor stock surged 13% in a single session the week of May 10 after Morgan Stanley issued a bullish call on the automaker's energy storage business. That was Ford’s biggest one-day gain since March 2020. For context, that kind of move doesn't happen without a serious catalyst. And this one ...
Small business owners voice concerns over data privacy legislation
Days after National Small Business Week, entrepreneurs and small business owners were back on Capitol Hill, turning the spotlight on a technical issue: data privacy.
Small business owners voice concerns over data privacy legislation
Days after National Small Business Week, entrepreneurs and small business owners were back on Capitol Hill, turning the spotlight on a technical issue: data privacy.
Small business owners voice concerns over data privacy legislation
Days after National Small Business Week, entrepreneurs and small business owners were back on Capitol Hill, turning the spotlight on a technical issue: data privacy.
Small business owners voice concerns over data privacy legislation
Days after National Small Business Week, entrepreneurs and small business owners were back on Capitol Hill, turning the spotlight on a technical issue: data privacy.
Small business owners voice concerns over data privacy legislation
Days after National Small Business Week, entrepreneurs and small business owners were back on Capitol Hill, turning the spotlight on a technical issue: data privacy.
Small business owners voice concerns over data privacy legislation
Days after National Small Business Week, entrepreneurs and small business owners were back on Capitol Hill, turning the spotlight on a technical issue: data privacy.
Small business owners voice concerns over data privacy legislation
Days after National Small Business Week, entrepreneurs and small business owners were back on Capitol Hill, turning the spotlight on a technical issue: data privacy.
Report discovers rodent droppings at Prantl's Bakery location
Prantl's Bakery issued a statement Friday following a report by the Allegheny County Health Department, which said rodent droppings were found at the bakery's Shadyside location.
Colorado Politics Calendar May 18-24
CoPo’s weekly political calendar helps you find political and public policy events throughout Colorado. It includes candidate and issue campaign events, public policy meetings, court hearings, state and local party conventions, assemblies, debates, rallies, parades, speaking engagements, traveling dignitary appearances, water meetings, book signings, county commission hearings, city council meetings and more. As a subscriber, […]
Youth sports, Eversource, student mental health: CT politics news
These news briefs are part of The Connecticut Mirror’s 2026 political coverage. For more, sign up for our newsletter 'The Issue.'
Youth sports, Eversource, student mental health: CT politics news
These news briefs are part of The Connecticut Mirror’s 2026 political coverage. For more, sign up for our newsletter 'The Issue.'
Vague Comments Add to Puzzle Over Tom Kean Jr.’s Absence
Representative Tom Kean Jr. hasn’t voted on Capitol Hill since March as he deals with an unspecified medical issue.
Health advisory issued for Fort Pierce Inlet State Park river area
The Florida Department of Health in St. Lucie County advises against water-related activities
PFA has been a game-changer for heart patients—but there are still risks
Devi Nair, MD, reviewed some of the rare complications clinicians are seeing with PFA.
Cuban political detainee released after US issues 2-week deadline
Cuban political prisoner Sissi Abascal Zamora is seen hugging loved ones outside La Bellotex women's prison in video posted of her release.
AASHTO Journal - Maryland DOT Issues More Purple Line Business Grants
The Maryland Department of Transportation recently issued $600,000 in new grants to support operations at 60 small businesses impacted by the construction of the Purple Line light rail line. [Above photo by the Maryland DOT] The Purple Line Small Business Grant Program distributes funds in three rounds each year. Those grant awards – which vary […]
Middlesbrough: Championship club calls for Southampton's expulsion from play-offs
Middlesbrough issue a statement demanding Southampton's expulsion from the Championship play-offs over spying allegations.
Linux 7.0.8 Released & LTS Kernels Updated For ssh-keysign-pwn
Following yesterday's disclosure of the ssh-keysign-pwn vulnerability that allows unprivileged users to read root-owned files, a slew of new stable kernel releases are out today to address this latest Linux security issue.
Wahls, Turek spar on reproductive healthcare records at Senate primary debate
Candidates Josh Turek and Zach Wahls sparred Thursday during the second U.S. Senate Democratic primary debate on issues like reproductive healthcare and how to best achieve their policy goals if elected.
The State of Rural Hospitals in the U.S, 2012-2023
ASPE’s Office of Health Policy has developed an Issue Brief modeling the key determinants of rural hospital closure or conversion as well as an interactive Rural Hospital Dashboard to highlight key characteristics and trends among rural hospitals. The Issue Brief uses a Cox proportional hazards model to identify low occupancy rates, for-profit ownership and proximity to an urban county as key determinants of closure or conversion to outpatient only facilities.
Trump and Xi move towards business-first relationship after Beijing summit
The two leaders did not resolve differences on key issues like Iran and Taiwan, despite push to extend truce.
How a vote for Trump’s ‘big, beautiful bill’ put Republican David Valadao in danger of losing his seat
Medicaid cuts have become a crucial issue in a Central California battleground race.
CT health legislation: Focus on vaccines, Medicaid rates, private equity in 2026
Connecticut lawmakers tackled several long-standing healthcare issues during this year's legislative session. Here's what they passed.
Chartbook 449: Voldemort on Threadneedle street. The Bank of England and the "haunted house" of English politics.
Imagine the scene: In some Harry Potter version of 21st-century London, a group of deathless UK Treasury officials gathered from across the last century huddle over warm pints and glasses of Chardonnay. Around the table there are officials from the 1920s, the 1930s, the 1970s, 2022 and today. Inevitably, in May 2026, the subject of conversation is the disintegration of the current Labour government. Despite its huge majority in parliament, it has been reduced to tatters by catastrophic local election result. These exposed the fact that rather than having a government with a clear popular majority, the UK is like most other modern societies divided into 5 segments each of which commands between 26 and 16 percent of the vote. Perhaps unsurprisingly, the leadership at Nos 10 and 11 Downing Street - where the Prime Minister and the Chancellor (Treasury Secretary) work - seem paralyzed. They are caught between mounting discontent over unfairness and the cost of living, and tough fiscal strictures that push them into making unpopular spending decisions. In the London pub, the Treasury officials from across the ages, can barely hide their satisfaction at the latest display of democratic politics caught in the vice-grip of financial logic. “Remember the mur d’argent and the banker’s ramp?” “Just like yesterday!” There are smirks around the table. Then the representative of 2026 pipes up: “One thing you have to say about the current lot (referring to the latest hapless Labour government), you don’t have to teach them about the bond market!” There is a murmur of ascent from the Treasury Mandarins. The trauma of the fiscal crisis of September-October 2022 sits deep. Back then, in the final stages of Tory decay, a ‘mini budget’ that challenged fiscal orthodoxy led to a brief but fierce panic in one of the oldest government bond markets in the world (aka gilt market). Now all you have to do is to mention the “bond market” to hush debate. [ Paul Mason@paulmasonnews In the name of public service, and as ex-economics editor of BBC Newsnight, I offer to do a zoom call, tonight, with any Labour MP who wants to understand why bond markets do not "fall into line" with governments. 1/ 3:57 PM · May 12, 2026 · 466K Views 224 Replies · 674 Reposts · 3.93K Likes ](https://x.com/paulmasonnews/status/2054229532404519082?s=20) “And the funny thing is”, the young man in the huddle continues, “they don’t even want to talk about … ”. There is a sudden hush. Significant looks are exchanged around the table. About? One of the senior figures puts down his glass with a decisive “clink”. He-Who-Must-Not-Be-Named has entered their thoughts. Meanwhile, a few miles away in a grubby pub in Bloomsbury, two conspirators from the camp of Critical Macrofinance huddle over cans of low-alcohol IPA. They look at each other and blurt out loud: “The Bank!” “Everyone in the bloody Labour party is talking about the bond market. But why aren’t they even mentioning … the Bank of England!?” “Why is no one talking about Voldemort?” In Paul Mason’s blogpost, after much chest-thumping about basic fiscal logic, the basic point about the Bank of England is buried in the fine print at #3 in his list of suggestions as to what a radical Labour government might actually be able to do! [ Conflict & Democracy Down with the bond market! Down with gravity! It may seem unfair to focus on Labour MP Paula Barker for her off-the-cuff assertion that the bond market would have to “fall in line” with Andy Burnham, should he replace Keir Starmer as prime minister. But Burnham himself told the New Statesman that Labour had to “get beyond this thing of being in hock to the bond markets… Read more 2 days ago · 100 likes · 3 comments · Paul Mason ](https://htsf.substack.com/p/down-with-the-bond-market-down-with?utm_source=substack&utm_campaign=post_embed&utm_medium=web) Back in Bloomsbury they shake their heads and ask: “Didn’t we learn anything from the Eurozone crisis?” Meanwhile, as if summoned to the conversation by some higher force, the “pink pages” announce: “The days of ultra-cheap government borrowing have come to an end” and Martin “Whizzard” Wolf publishes the graph of the season Look at the UK in 2026, perilously positioned on the upper edge of the pack. No wonder no one in London needs any lessons about the “bond market”. But, look again. Imagine how they feel in Rome. What is London’s nightmare in 2026? The nightmare is that you end up like Italy in the early 2010s during the Eurozone crisis. Once comfortably situated in the middle of the pack, watching with horror as your ten-year yields explode to 7 percent and “spreads” become a national nightmare. One of the largest economies in Europe, a founding member of the euro, stigmatized. But the message of the Italian experience is ambiguous. After all, the stigma didn’t last. In 2026, Italy borrows at rates lower not only than the UK but the US. The US, which, as everyone knows, enjoys the “exorbitant privilege” of being the issuer of reserve, safe asets. What kind of magic is this? How did Italy, in the space of fifteen years, go from being good, to bad and back again? Which brings us back to our dissident friends in their Bloombury boozer and their memories of the Eurozone crisis. Italy never was Britain - with its ongoing fiscal deficits. Without interest payments, on primary balance, from 2000 to 2020 Italy ran a tight fiscal ship. Even in 2008 it barely went into deficit and when it was being put on the rack in the early 20210s its primary surplus matched that of austere Germany. So, what happened? How did it end up stigmatized? Of course Italian politics didn’t help. Berlusconi was at the helm and he had legal issues. But amongst friends in the Bloomsbury pub, Berlusconi is a sideshow, the name we whisper to each other is “Trichet”. From 2004 to 2011 the ECB was headed by Jean-Claude Trichet, ex of the French Treasury, more German than the Germans. After 2009 as the news of the Greek fiscal disaster broke, the European bond markets wento into panic mode and Trichet began a brutal game of cat and mouse. Between 2009 and 2011, Trichet intervened in the bond market to help, only when he thought he had compliance with austerity. When he thought they were uncooperative, he withdrew. In the summer of 2011, he even made direct suggestions to his Italian counterparts in Rome, as to how Italy should be governed. It was this cat and mouse game that drove the bond markets crazy and exposed Italy to a violent squeeze. When Mario Draghi took over the ECB at the end of 2011 and declared “whatever it takes”, the pressure on Italy, gradually eased. It is that starring role that has made Draghi into the towering figure in European politics that he remains today. So now you see why voices in London hush when it comes to the Bank of England. “The bond market” isn’t an irresistible objective force like the weather or an avalanche. It can appear like that. But that depends on the way it is being handled, or not handled by the central bank. Which is why the silence about the Bank of England in London right now is so significant. If you think this all sounds a bit fishy, coming from a left-liberal Keynesian like myself, well, let me introduce you to Robin Brooks, who, to put it mildly, plays on a different quidditch team to me. Here, from the position of a fiscal hawk is Robin’s celebratory account of the Bank of England’s role since 2022; In October 2022, at the height of the bond market blow-up in the UK, something incredible happened. Governor Andrew Bailey told British pension funds the Bank of England would end its support program for the country’s fragile gilt market, drawing a line under how much help the central bank was willing to give to exposed pension funds and - implicitly - the government. By the end of that week, Kwasi Kwarteng - the finance minister - had resigned. Prime Minister Liz Truss would soon follow. This episode is so incredible because it contrasts with what happened in the Euro zone earlier that year. Bond markets in Spain and Italy were under pressure amid high inflation and rising interest rates. In the middle of this, Mario Draghi - Italy’s Prime Minister - resigned, compounding pressure on bond markets of high-debt countries on the Euro periphery. Unlike the Bank of England, the ECB caved. It bought Italian and Spanish government bonds in an effort to cap yields and introduced a new tool that signaled to markets it might do such caps more frequently going forward. Faced with pressure on bond markets, the ECB capitulated to political pressure from high-debt countries like Italy and Spain. The Bank of England stood its ground and toppled the Truss government. This kind of thing has long-lasting consequences. It means markets price a higher probability of yield caps in the Euro zone, which keeps Italian and Spanish yields artificially low, while markets feel free to push up UK yields without fear of central bank intervention. As I flagged in yesterday’s post, this means you really can’t compare UK yields to those of other high-debt countries. The UK looks worse, but only because its central bank isn’t interfering with markets. There’s more to this than just that 2022 episode. The Bank of England has also been much more aggressive in its quantitative tightening (QT) than other central banks. If one motivation for quantitative easing (QE) is to lower bond yields - especially longer-dated ones - then it stands to reason QT pushes yields up. The left chart above shows a four-quarter moving average of UK government debt issuance (black line) in percent of GDP and which sectors absorb this issuance, including the Bank of England (blue bars). The right chart above compares the Bank of England’s accumulation or run-off of government bonds (blue line) with that of other central banks, where this blue line is the same as the blue bars in the left chart. The Bank of England was quicker and more aggressive than other central banks in downsizing its bond holdings, so UK yields will have risen more than elsewhere also for this reason, not just because of Governor Andrew Bailey’s remarks in October 2022. Back in October 2025, after a conversation in New York with friends in British politics, my sense of dysphoria was such that I raised the issue of the Bank of England openly in the FT Since 2008, the UK has slid into a deep economic and political predicament. Growth has stagnated to a degree far worse even than in the 1970s. The Tory leadership’s wager on the Brexit referendum spectacularly backfired, leaving the UK isolated from Europe and at the mercy of its special relationship with the US, many of whose political class regard the UK as a basket case. After years of austerity, the Labour party lurched to the left and then back to the centre. The Tory party has been eclipsed by the populist nationalism of Reform. Any British government should be worrying first and foremost about how to restart growth. Instead, Keir Starmer is beset by shades of the gilt market panic triggered by the Liz Truss government in 2022. The debt level is higher than in recent years, but there is no cause for panic. UK debt is at far from critical levels and of long duration. Whether you want to “take back control” or launch progressive economic policy, a democracy dogged by fear of bond market vigilantes is unhealthy. In a country that is a monetary sovereign, this climate points to one thing: a disconnect between the government and the central bank. Since 1997, the independence of the Bank of England has become a sacred cow. But independence is what you make of it. And in the wake of the gilt market crisis of September 2022, relations between the Bank of England and the UK government need a reset. In normal times, there is no doubt that an inflation-targeting independent central bank can serve a country well. But since 2008, the UK and other advanced economies have not had the luxury of such simple problems. To their credit, central bankers around the world have not stood on orthodoxy. After 2008, the US Federal Reserve rescued the global banking system and, through quantitative easing, it stabilised the Treasury market in the face of huge deficits. In Europe, things were trickier. Both the Bank of England under Mervyn King and Jean-Claude Trichet’s European Central Bank played cat and mouse with national governments. This was a high stakes wager that between 2010 and 2012 escalated bond market tension and triggered a disastrous turn to austerity. Shaken by the impact of those shocks, their successors, Mark Carney and Mario Draghi adopted a more protective stance (assuming you were not the government of Greece). Recall that Draghi’s legendary slogan, “Whatever it takes”, was uttered to face down the City of London’s bond vigilantes. In 2015, Draghi launched QE — financial repression by another name. In 2016, Carney used the authority of the Bank of England to stabilise markets following the vote for Brexit, an exemplary demonstration of how central banks can underpin democratic choice, even when those choices are wrong headed. All these were independent central bankers steeped in the best practice of the 1990s, who recognised that historic crises demanded radical action. It was the price surge of 2021-2023 that poisoned the atmosphere. Though the shock came mainly from the supply side, central banks ended up in the dock. Nowhere more so than in the UK. The Bank of England reacted with aggressive normalisation. Faced with a cost of living crisis, the governor called for workers to accept real wage cuts. In early 2022, as gas prices were at record levels and Russia’s army was poised to invade Ukraine, the Bank adopted a stringent programme of quantitative tightening, elevating interest rates. When the Truss government got itself in trouble, the Bank took almost a week to come to the rescue. Rather than enacting a charade of normality, it is time to recognise that in 2025 the UK faces a period of historic transition. To meet this challenge, what is needed is a new concordat with the Bank. This should not ignore inflationary pressures or the long-run trajectory of debt, but should affirm the priority of reviving investment-led growth. One could follow Donald Trump in demanding interest rate cuts. The Bank could shadow the ECB in its commitment to capping Eurozone yields. But the top priority should be to lay the ghost of September 2022. The Bank’s slowing of QT last month was a concession. An immediate and complete end would send the right signal. Such a concordat will not by itself restore sanity to politics, solve the housing problem or rebuild the NHS. But it would help to lift the fear of bond market crisis, which is paralysing the effort by democratic politicians to answer the fundamental questions facing the nation. Now, that call for a new concordat between government and Bank of Englands seems more urgent than ever. The problem is that in October 2025, Starmer still had some authority. Today the government is in tatters. And when you are the “under the harrow” - to echo a phrase of Montagu Norman’s from the 1920s - it is the worst possible time to consider institutional change. To make general arguments at a time of crisis can only seem like special pleading rather than a general argument for long-term change. The same, unfortunately, is also true for the other basic institutional reform that Britain urgently needs i.e. the abolition of the out-dated first past the post electoral system and its replacement by a moderated form of proportional representation. And thirdly - whilst we are saying the quiet parts out loud - Britain needs to reopen the question of EU membership. What the local election results of 2026 show is that this remains a key issue. And what they also show is that there is a clear majority that would favor a return. Until these basic features of Britain’s political economy are addressed the country will carry on its politics as though in a haunted house, governed by governments that lack actual majorities, conjuring up false constraints whilst ignoring the real ones. This one is for DG and MI. I love writing the newsletter. If you enjoy it too and fancy buying me a coffee once a month, you know what to do. Click below! Subscribe
Double standard? Jim Jordan doesn’t ‘have any issue at all’ with Eric Trump joining dad’s trip to China.
A grad student’s wild idea sparks a major aging breakthrough
A casual conversation between graduate students helped spark a breakthrough in aging research at Mayo Clinic. Researchers discovered that tiny synthetic DNA molecules called aptamers can selectively attach to senescent “zombie cells,” which are linked to aging, cancer, and neurodegenerative disease. The method could eventually help scientists identify and target these cells in living tissue with far greater precision.
WHO warns nicotine pouch brands targeting youth as sales surge
The World Health Organization (WHO) today issues a strong warning over the rapid global expansion of nicotine pouch products, which are being aggressively marketed to adolescents and young people. WHO notes that regulation in many countries is limited or absent, raising concerns about youth nicotine addiction and related health risks.
Lawmaker walks from Dayton to Statehouse to spotlight kids' mental health
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Trump and Xi set for second day of talks after Taiwan warning
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Perspective | North Carolina child care is in crisis — and it's a business issue
Gene McLaurin describes how North Carolina's lack of affordable, high-quality child care negatively effects businesses statewide.
Maria Menounos opens up about health issues and "Heal Squad" podcast
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Ron DeSantis rips Daniel Perez for obstructing his priorities
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Doctors rally behind autonomous vehicles as public health issue
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‘This does not have to be a red state or blue state issue.’ Vance defends Fraud Czar role as admin. targets blue state fund
Entertainment: Big Trucks and Maifest Offer Something For All Ages
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Thursday Morning Links
Morning, all! Adam and I were at the game last night, though Adam left in the sixth and missed the theatrics. That was something. Chris Martin made a rehab appearance for Round Rock on Tuesday and batters teed off on his splitter. Martin doesn’t know if it’s a mechanical issue or execution and described the […]
Howard Community College Featured in 'State of Business' Address
In his Business Outlook Luncheon remarks at Turf Valley Resort last week, Howard County Executive Calvin Ball outlined how Howard County “stands on business” through five pillars: managing crises, investing in people, backing businesses, making strategic investments, and preparing for the future. Howard Community College appears by name in the pillar that anchors the others: investing in people. Dr. Ball highlighted the $11 million county investment in HCC’s Cathy and Danny Bell Workforce and Trades Center, which will open this fall. He described the facility as a world-class center with state-of-the-art training in key industries, championed by HCC President Dr. Daria J. Willis, and positioned to help Howard County compete with institutions worldwide. He also recognized HCC’s Complete4Success program, supported by a $3.5 million county investment in 2022, as a continuing driver of certifications and degrees that prepare students to enter Howard County’s workforce ready to contribute on day one. Dr. Ball connected HCC’s work to the broader economic moment in the county, including more than 1,580 apprentices now training across Howard County businesses, up from roughly 1,100 in 2018, and the SPARK program that bridges classroom learning to high-demand industries. Each of these efforts depends on the kind of workforce pipeline HCC is built to deliver. Educational Services is one of the top three employment sectors for county residents, alongside Professional, Scientific, & Technical Services and Health Care & Social Assistance. HCC will award 1,263 degrees next week at its annual commencement ceremony, and every year, that output feeds directly into the industries the County Executive named as drivers of Howard County’s growth. The full picture also includes the families who are not yet there. The 2024 ALICE update from United Way of Central Maryland found that 35,346 households in Howard County, 29% of the total, fell below the ALICE Threshold in 2022, meaning they earned more than the Federal Poverty Level but less than the basic cost of living in the county. The Household Survival Budget for a Howard County family of two adults, an infant, and a preschooler reached $118,608 annually, requiring an hourly wage of $59.30 to cover housing, child care, food, transportation, and other essentials. Affluence and economic strain coexist within the same county lines. That gap is the reason higher education and economic development are inseparable. Every certification, associate degree, and apprenticeship credential issued at HCC represents a household closer to crossing the ALICE Threshold and into long-term financial stability. The Bell Center, Complete4Success, Howard P.R.I.D.E., Parent Scholars, and the institution’s transfer-rate gains are significant components of Howard County’s economic mobility infrastructure. HCC is grateful to Dr. Ball for his sustained partnership over nearly eight years of service and for recognizing that this college plays a central role in the economic story Howard County is telling. Standing on business in Howard County means standing alongside the flagship institution that prepares its workforce.
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Mastercard and U.S. Bank’s New Amazon Business Credit Cards
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Rihanna home shooting case clouded by mental health concerns
A public defender representing Ivanna Ortiz, a 35-year-old Florida woman accused opening fire on Rihanna's West L.A. home with an assault rifle in March, said Wednesday that mental health concerns be an issue in her case as she faces charges of attempted murder and assault.
Board of Health Issues Partial Condemnation for Selfridge Road House
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Spotlighting female health issues and preventative measures
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At Cannes 2026, Gaza Becomes a Political Flashpoint
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‘Renovation Aloha’ Stars Reportedly Fined Thousands for Illegal Airbnbs in Hawaii
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Staying safe from wildfire smoke | Harvard T.H. Chan School of Public Health
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House Republican misses another week of votes as health absence strains thin majority
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Amazon's New Prime Business and Amazon Business Credit Cards, Powered by U.S. Bank and Mastercard®, Are Now Available with Enhanced Rewards and Flexible Financing
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Apreo Health® Adds Independent Director and Strategic Investor to Advance Novel Airway Scaffold for Severe Emphysema
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These Oshkosh residents want you to log off and talk politics
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Adam Schiff Accuses CFTC Chair Mike Selig Of 'Duplicitous' Behavior Over Sports Prediction Markets
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Young People & Politics
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How Codega Media Gets Students Ready to Become Sports/Entertainment Production Professionals
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Waymo recalls massive autonomous fleet after incident flags major safety issue
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Disability Justice: Access, Communication & Belonging in Health Care & Public Health
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Tiffany Haddish Reflects on Her Sports Illustrated Swimsuit Cover
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