Distress in the high-yield market often is a sign of pending trouble. But economists are backing off of their recession forecasts.
Artificial intelligence-fueled productivity should expand margins by 4 percentage points, the firm projects, but it won’t happen right away.
There will also be a job-loss toll, but, as in previous technology leaps, many displaced workers will fit into newly created positions, the firm’s study says.
His stance clashes with that of Chair Jerome Powell, a sometime adversary.
Investors will see that things aren’t getting much better, and that will reverse stocks’ recent surge, warns James Bianco.
The nation is deep into an economic hole, but right now the huge debt issue is an abstraction with no effect on daily lives. Someday, that will change. Oh, will it ever.