David studied Accounting and Economics at Loyola University Chicago and later deepened his expertise at MIT, focusing on Data and Economic Policy. He was the innovator behind Deloitte Cortex, Deloitte's flagship analytics platform, and previously led software innovations at both Deloitte and Synchrony Bank. With a strong technical background in machine learning and large language models (LLMs), David drives the development of Abacus' products and infrastructure. Today, he guides the company's vision, product strategy, and enterprise AI innovation across regulated industries.

Sven Klingemann is a senior director at The RepTrak Company.

Last week's bond market turmoil continued leading up to the FOMC decision on Wednesday, pushing the 30-year fixed to near or over 7%, depending on the source.

The Securities and Exchange Commission said Rule 14a-8 exceeds its statutory authority and intrudes on matters of state law. Shareholder advocacy groups, however, argue that repealing the rule could reduce transparency.

Federal Reserve Chair Jerome Powell said in a speech Tuesday that the central bank's policy stance is "modestly restrictive," a stance that will give the central bank flexibility to react to an uncertain economic future.

Federal Reserve Vice Chair for Supervision Michelle Bowman said in a speech Tuesday that steeper interest rate cuts should be on the table if the labor market continues to show signs of decline.

The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.

Core CPI, which excludes food and energy, rose to 3.1%, up from 2.9% in June.