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Recent research suggests technology is now destroying more jobs than it creates, particularly impacting professional roles due to AI advancements. This trend could lead to deflation, increased government intervention, and a tech war between the U.S. and China. While aging populations might offset labor force shrinkage, the exponential pace of technological evolution suggests a shift towards automation.
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News and Media
Oil markets are in a holding pattern due to uncertainty surrounding the Russia-Ukraine war and potential shifts in Western sanctions. The focus has shifted from a quick ceasefire to a longer-term resolution of territorial disputes and security guarantees. Market participants are adopting a wait-and-see approach, as the path to a resolution is expected to be lengthy and complex.
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News and Media
Andrew Ferris, CEO of Ecognosis Advisory, advises clients to reduce US holdings due to expectations that the Federal Reserve will maintain current interest rates. He anticipates Powell will reinforce this stance at the Jackson Hole meeting. Despite the S&P's record high, it's underperforming European and Asian markets.
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News and Media
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