The White House is laying out a new framework that it wants Congress to use to shape national rules for artificial intelligence without curbing growth in the sector. It wants Congress to "preempt" state laws is sees as too burdensome. The focus is on protecting children, preventing electricity costs from surging, respecting intellectual property rights, preventing censorship and educating Americans on using the technology. It comes as state governments have forged ahead on their own regulations. Civil liberties and consumer rights groups have lobbied for more regulations on the powerful technology. But the industry and the White House say a patchwork of rules would hurt growth.

The Federal Reserve will continue to wait and see how the economy evolves before deciding whether to reduce its key interest rate, Chair Jerome Powell says, a stance directly at odds with President Donald Trump's calls for immediate cuts. Powell said Tuesday that the economy is in a good position and that the Fed needs to learn more before adjusting rates. Powell is facing two days of what could be tough grilling on Capitol Hill, as Trump has repeatedly urged the Fed to reduce borrowing costs.