Yahoo Finance Executive Editor Brian Sozzi sits down with Goldman Sachs chief economist Jan Hatzius at the Goldman Sachs Communicopia and Tech Conference to ...
WTI slid more than 3% to hover near US$66 per barrel, while Brent also fell to below US$70 a barrelsits down with Goldman Sachs chief economist Jan Hatzius at the Goldman Sachs Communicopia and Tech Conference to discuss the Federal Reserve 's rate cut path and how AI will transform the economy.
He adds,"We lifted our long-term growth forecast for the US on the back of AI from 1.8% per year to 2.2% per year, sort of in the early 2030s. And that's a pretty sizable number. Obviously, it's not as dramatic sounding a number as some of the more maybe micro or sectoral effects, but, you know, $428 trillion economy, or whatever that number is going to be five or ten years down the road, it's a lot.
It's not the level of the funds rate itself that matters mostly, but really financial conditions, and they depend on on the path, you know. A lot of that unauthorised immigration and a lot of those people have entered the workforce and now are still entering the workforce and it's taking some time to absorb them and in the meantime the unemployment rate rises.
I do think that it's important to distinguish between particular sectors of the economy, where that impact is very visible. CARY, N.C., Sept. 10, 2024 -- As cyber threats grow, small to medium-sized businesses are disproportionately targeted. According to the recent Hiscox annual cyber readiness report, 41% of SMBs in the US fell victim to a cyberattack in 2023, a figure that has nearly doubled since 2021.
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