Get the best daily market and macroeconomic commentary anywhere for less than $7 per month.
Already have an account? log in
Easy Money
Asked during Wednesday's press conference whether easier financial conditions as a result of buoyant stock prices "make your job harder," Jerome Powell resorted to a familiar rejoinder. The Fed is concerned about "overall financial conditions," which should "reflect the policy stance," he said.
It was a boilerplate response and to some, it seemed incongruous with the unusually explicit rebuke of markets and the read-through of higher stocks for financial conditions found in the December meeting
AI is replacing ‘offshoring to China’ as the next significant deflationary tool.
Call centers can cut staff by as much as 40-50% as AI continues to improve. Case study/legal research/data handling can be done by AI in a small fraction of the time it takes entry level human researchers, lawyers and so on.
Almost any job that works (inefficiently) with large amounts of data will be targeted by AI.
“Almost any job that works (inefficiently) with large amounts of data will be targeted by AI.”
NOOOOOOOOOOOO 🙂
More seriously, I think that AI will have limited effect on portfolio management because there are already so many quant / algo / data mining technologies and strategies at work.
Other industries that to date have had less technological impact are likely to be shaken up harder. Commercial graphics and art, for example. An AI doesn’t need ADBE Photoshop or Illustrator to create imagery.
You didn’t even have time to qualify for long-term capital gains before it practically doubled!
Yeah, that was one of the better on-a-whim investments I’ve made in a long time.