Relevant summaries written by a research analyst. Commentary - not advice. | Disclaimers HEADLINES | US signals preference for diplomacy over escalation after refraining from Iran strikes | NY Fed President Williams makes case for continued Fed hold MARKETS & ECONOMIES | US joins Japan's buying intervention to support yen | Oil falls, stocks approach index records on Middle East pause, tech recovery ADDITIONAL ITEMS | FBI warns on water systems as governments confront cyber

Relevant summaries written by a research analyst. Commentary - not advice. | Disclaimers HEADLINES | Simmering US-Iran stalemate raises risks of broader escalation and supply strokes in the Middle East | Federal Reserve's hold without guidance brings dissent and speculation MARKETS & ECONOMIES | Chip selloff stabilizes amid earnings strength while inflationary concerns drive bond yields higher | Forced selling draws attention to concentrated AI positioning and unwind volatil

Defying out-of-consensus calls for a surprise rate increase at its July 28-29 FOMC meeting, the Federal Reserve chose to hold off on moving for now. However, three dissents in favor of lifting policy rates (Hammack, Kashkari, and Logan) offered evidence of a "good family fight". That there was "nothing inertial" about the Fed's discussions, policy, or strategy may signal momentum toward a possible September rate hike (or even balance sheet tightening), notwithstanding Chair W

Relevant summaries written by a research analyst. Commentary - not advice. | Disclaimers

Commentary - not advice. | Disclaimers

Relevant summaries written by a research analyst. Commentary - not advice. | Disclaimers

Relevant summaries written by a research analyst. Commentary - not advice. | Disclaimers

Relevant summaries written by a research analyst. Commentary - not advice. | Disclaimers

Relevant summaries written by a research analyst. Commentary - not advice. | Disclaimers

Commentary - not advice. | Disclaimers What are we meant to believe? How do we know that we can? June 28, 2026 By Edward von der Schmidt Arguments and proofs are built on premises - information that we take as given. If the validity of these starting points can be contested, so can the ideas that follow from them. In a world flooded with information of varying availability and integrity, agreeing on basic facts and assumptions is crucial to moving our discourse forward. Th

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Kevin Warsh's first Federal Open Market Committee (FOMC) meeting as Chair brought an expected policy hold, tough inflation rhetoric, little forward guidance, and a pledge to revisit the Fed's lens and operations. This commentary is for informational purposes only and is not financial or other advice. June 18, 2026 By Edward von der Schmidt | Key Takeaways | FOMC Statement | Summary of Economic Projections (SEP) | Prepared Remarks | Press Conference | Disclaimers Key Takeaways

Relevant summaries written by a research analyst. Commentary - not advice. | Disclaimers

Relevant summaries written by a research analyst. Commentary - not advice. | Disclaimers

Relevant summaries written by a research analyst. Commentary - not advice. | Disclaimers

Relevant summaries written by a research analyst. Commentary - not advice. | Disclaimers

We are sharing this framework for transparency (and science).

Tweaking the behavior of a token machine with a structured approach. EDWARD VON DER SCHMIDT 27 MAY 2026 (UPDATED 29 MAY 2026) The "Life" of a Prompt What happens when we prompt a generative AI model? Typically, "transformers" convert or "encode" symbols like text or media into sets of numbers. These inputs are first broken down into components or "tokens" and transformed into coordinates (vectors). This "context" is woven or filtered through a numerical field of weighted pro

How do we know an AI model running DRAP is actually following instructions? Logs!

Like a student rushing a single draft of a paper before it is due, generative AI models write once and neglect to check their work. By creating a system prompt to instruct the model how to write, review, and revise on its own, we can mitigate error propagation and improve the caliber of responses. In the methodology for recursive analysis though procedural semantic programming and its template, the Datum Research Analytical Process (DRAP) v1.0, we use natural language to teac

How will you know "DRAP" is working? The proof is in the prompting.

Introducing our first, open-source semantic program for people and AI.

Reliable digests by a research analyst to save you time. Commentary - not advice. | Disclaimers