The Latest Breaking News from David Mericle

"As the focus among businesses now turns to efficiencies and increasing productivity, we expect layoffs to increase, causing unemployment to rise."

Fed Chair Jerome Powell firmly pushed back against market expectations for a December rate cut on Wednesday, cautioning that it's more prudent to slow down when visibility is low—yet his remarks only modestly dented investor optimism, with traders still essentially betting on another move by the end of the year.

“History also suggests that the full consequences of AI for the labor market might not become apparent until a recession hits.”

The Federal Reserve may have delivered its first rate cut in nine months on Wednesday — but according to Goldman Sachs, it likely won't be the last.