In other news, AI is changing the job market, with businesses using it to write job descriptions, judge applicants' skills, and rate candidates' responses, while applicants use it to write their resumes and apply for jobs. Meanwhile, Netflix has signed a three-year deal with the NFL to show its football games, and Google is reshuffling its top ranks to get ahead in AI.
Key takeaways:
- Interest-rate cuts could be coming this fall, potentially adding another element to the upcoming US presidential election that is set to focus heavily on the economy.
- April's inflation report aligned with what experts expected, with the Consumer Price Index increasing 3.4%, a slight cooling from March's 3.5% year-over-year increase.
- Market experts warn that rushing interest-rate cuts could lead to a market "meltup", where stocks surge initially but eventually suffer a steep drop.
- AI is changing the job market, with businesses using it to write job descriptions, judge applicants' skills, and rate candidates' responses, while applicants are using AI to write their résumés and apply to hundreds of jobs at a time.