About this episode
Stephanie Roth is the chief economist at Wolfe Research, and was previously an economist at JPMorgan. She joined Phil Rosen on Full Signal to discuss how AI is changing jobs and the labor market, whether AI is driving productivity gains, Big Tech’s capex plans, its impact on young people finding jobs, comparisons to dot-com, and what investors are missing today. This episode is sponsored by Public: https://public.com/openingbell Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/ 0:00 - Intro 0:30 - Labor market outlook 2:50 - AI and layoffs 3:57 - AI driving new jobs, productivity 6:30 - Broad AI adoption in economy 7:15 - Youth unemployment 11:00 - Public & Generated Assets 12:07 - AI capex and GDP 15:30 - Economic vs. asset price bubble 16:55 - AI isn’t dot-com bubble 17:50 - What investors misunderstand on AI 19:16 - K-shaped economy 22:55 - Consumer spending 25:55 - Inflation and tariffs 26:55 - Affordability and consumer sentiment 28:00 - Bias of sentiment surveys 30:30 - New Fed Chair, Fed independence 33:55 - White House policy 36:48 - What economists got wrong on tariffs Disclosure: Brokerage services provided by Open to the Public Investing Inc, member FINRA & SIPC. Investing involves risk. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. See terms of Match Program at https://public.com/disclosures/matchprogram Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time. #podcast #investing #markets #macro #stocks #bitcoin #fed