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Single best idea. It is not a slow Friday. There's no other way to put it. We're supposed to slide into the late August and get through and be sure the kids get the summer reading done and launch off of Labor Day into whatever not. This August it is exceptional. Thank you to Anne Marie Horden for coverage. In the very early morning of Anchorage, Alaska, we saw the President leave Washington on Air Force one, a report of mister Putin in Siberia over by very eastern Russia and Magadan.
I hope I'm pronouncing that correctly. We tried to stay to economics, finance, investment as well. Peter Sheer looking at the great separation between study of the labor economy and study of interest rates, sure of academy securities.
Part of the reason I'm slightly nervous, more maybe nervous than most guests about the economy is I'm worried about the job situation. I'm particularly worried about, you know, the recent college graduate situation. Right, the unemployment rate seems to be fairly high. They're not getting jobs. I look at law school applications they're skyrocketing. That to me is another sign that jobs are very tough, especially for the college graduates.
And those are the people I think who currently are being displaced by AI.
Right.
That's people are comfortable kind of giving those sorts of assignments to AI, and you know, they're not going to let big decisions being made, but they're letting some of that work be done. And I'm not sure what that does for that job market opportunity. I'm not sure what that does for a future where those people supposed to get those jobs that lead them into management and things like that over time. So some of this I think we're getting close probably you know, six months a year away.
There's going to be a little bit of pushback on AI the deployment, and you know, you keep looking at the cost of electricity rising, that's going to be an issue.
Peter Shure. They're on artificial intelligence, the overlay of technology on this economy, and of course that will be a theme of Jackson Hole here in a matter of days. A major thank you to Ed Ludlow of Bloomberg Technology for joining us on very short notice on Google Chrome, on perplexity, on Sam Altman just it's an area I'm not up to speed on and to get ed. Ludlow's expertise is valuable with the Bank of Montreal BEMO Capital Markets. Jennifer Lee here on the economy.
Forward, I was very torn.
I was like, do I want a strong number to signify, you know, that the US economy remains resilient, or do I want a weak number because it shows that that that is going to have to start cutting rates starting next month and by how much it's always torn. But you know, I'm kind of lying. I kind of lean toward, you know, I want a stronger economy, more resilient economy, And the retail sales numbers approved that it wasn't wall
to wall strength. We saw some pullback and play things like eating out, dining out, for example, which is something I like to keep an eye on all the time. But there's more spending on things like sporting goods and on clothing and things like that. So cannot right off the US can seer jest yet you know it's we should almost never write right off the US consumer. But it shows that the US economy is still holding up there. The backward revisions, by the way, show that there's a
lot more momentum coming in into the second half. But what happens at this point on with signs of higher inflation bubbling, You know, this is where everything hits the fan.
Jennifer Lee be most capital market, It's a most eventful week. Will stagger into next week, of course, continuing to look at the technology overlay on economics, finance, investment, and international relations on your podcast on Apple, on Spotify, at YouTube podcasts. It's single best idea