The Fed decided to cut interest rates on Wednesday, citing a weak labor market as the reason.

The latest jobs report showed that U.S. employers only added 22,000 jobs in August, down from the 79,000 in July, showing a dramatic slowing in hiring. It was the worst August report since the pandemic and it got the Federal Reserve Board concerned.

In a press conference on Wednesday, Fed Chair Jerome Powell was asked whether he thinks AI has any effect on this trend. Powell said that although there is still great uncertainty over that link, he believes that it’s “probably a factor,” particularly when it comes to young graduates who are facing massive unemployment rates.

“It may be that companies or other institutions that have been hiring younger people right out of college are able to use A

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