The Latest Breaking News from Paul Donovan

A divided Fed meets amid mixed jobs and inflation signals, leaving Chair Jerome Powell with a suspenseful December.

The president’s approval ratings have reached their lowest since he took office in January.

“It seems you can’t go anywhere without talking about AI,” says Aditya Bhave, senior U.S. economist at Bank of America Research.

Treasury Secretary Scott Bessent hails Javier Milei’s Argentina as a “beacon” for South America, backing it with swap lines while ruling out U.S. cash aid.

Goodwill Industries is bracing for a wave of unemployed Gen Z workers, CEO Steve Preston recently said, as artificial intelligence makes it harder for young Americans to land jobs.

The (American) kids aren't alright.

In 2025, the rising unemployment rate among Americans under 25, specifically recent graduates, has become a significant economic concern. This problem seems to be uniquely American, stemming from a “no hire, no fire” economy, rather than the advent of artificial intelligence (AI).

"The U.S. labor market experience is peculiar," UBS' Paul Donovan wrote in a UBS note asking, "the kids are alright?"

Job weakness and softer inflation data push markets to fully price in a September Fed cut, but Powell’s decision could spark volatility if he resists.