Is The Fed Intervening Because An AI-Induced Depression Is Just Around The Corner?
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The article discusses the Federal Reserve's unexpected actions of cutting rates and printing money despite a strong economy, questioning if these measures indicate an impending AI-induced depression. Microsoft’s AI division CEO, Mustafa Suleyman, predicts that AI will automate many professional tasks within 12 to 18 months, potentially impacting the economy negatively. The article highlights the K-shaped economy, where the top 10% of earners drive consumer spending, and raises concerns about job losses due to AI advancements and their implications for the economy.
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