🌎 No stress for the Fed

Plus: The AI genie in the doctor’s office

Federal Reserve Board Chairman Jerome Powell holds a news conference following the announcement that the Federal Reserve raised interest rates by half a percentage point, at the Federal Reserve Building in Washington, U.S., December 14, 2022
Photo: Evelyn Hockstein (Reuters)

Good morning, Quartz readers!

Here’s what you need to know

The Fed announced the results of its 2023 bank stress tests. The banks passed muster—but Silicon Valley Bank didn’t set off alarms either, until it collapsed.

DoorDash gave drivers the option to be paid by the hour. But the Earn by Time plan only covers the period between accepting and delivering an order.


OpenAI is opening its first office outside the US. The AI company is headed across the pond.

US aviation regulators cleared another hurdle for electric flying taxis. Joby Aviation got approval to test its first prototype aircraft built on the production line.


Quotable: The AI genie in the doctor’s office

“Essentially, I rubbed a genie lamp 15 to 20 years ago, and finally it granted me my wish.”—Florida physician James Schwartz on the new AI technology taking his patient notes for him

But not everyone sees it as a perfect prescription. Michelle Cheng and Annalisa Merelli report on the low-stakes ways in which AI is getting introduced to doctors’ offices.

Increasingly interdependent

A chart of US exports to China of crude oil and petroleum products
Graphic: Quartz

The US and China are supposedly eager to disentangle their supply chains. But their efforts will likely be complicated by the increasing interdependence of the two countries when it comes to oil and gas. The US accounted for 43% of Chinese liquid natural gas sales and purchase agreements signed in 2021 and 2022. And as Mary Hui reports, China is still signing new deals with US suppliers.

Pop quiz: Potash

In addition to being an ingredient in fertilizers, where else can potash, a naturally occurring salt, can be used?


A. 🧂 Road salt

B. 💊 Pharmaceuticals

C. 🫙 Glassmaking

D. 🧼 Soap

Find your answer, and more fun facts to enrich your reading diet, in this week’s potassium-rich Quartz Obsession newsletter.


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Surprising discoveries

A very merry unbirthday. South Koreans are a year younger now.

Some planets cheat death. Scientists now can explain why the planet Halla wasn’t swallowed up by its star.


Southern Co. has no suspects. Even after conducting an investigation, the US energy giant is still in the dark about who gave the order to spy on its now-retired CEO.

“Custer’s last stand” is based on a distorted narrative. A new book says the US cavalry commander’s widow glorified his military exploits.


Sales of red wine in France are down 50% from the 1990s. But rosé is picking up some of the slack.

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