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Fed Chair Jerome Powell says that AI isn't the main source of labor market woes — here's what is
At least, not yet. While Fed Chairman Jerome Powell has previously warned about AI, saying in June that it has the "potential to make really dramatic changes" to the U.S. economy, the leader of America's central bank is blaming other factors for the newfound tightness in the job market.
NPR's Scott Simon talks to Greg Ip, The Wall Street Journal's chief economics commentator, about the jobs report, tariffs facing legal challenges, and U.S. government investment in private companies.
The Federal Reserve on Wednesday lowered interest rates for the first time since December to support America’s faltering labor market. However, the economy’s path forward looks murky, according to the central bank’s leader.
At a Connect4lLunch event Tuesday, Idaho Department of Labor economist Samuel Wolkenhauer spoke of the “eroding” job market and expressed hopes that Idaho’s economy can stay resilient in the coming months.
Today’s picture isn’t nearly as dire, and stagflation — if it comes back — could look different. Here’s what to know. “Stagflation,” a mash-up of “stagnation” and “inflation,” describes the unusual situation where the economy stalls while the cost of living keeps surging.
The number of Americans filing new applications for unemployment benefits fell last week, reversing the prior week's jump, but the labor market has softened as both the demand for and supply of workers have diminished.
Erika McEntarfer, in her first appearance since she was ousted from the Bureau of Labor Statistics, cautioned that “economic data must be free from partisan influence.”