Matthew Weir

But then we see the dollar appreciate.

We see oil rise.

We see bond prices rise.

But after about eight weeks, fundamentals, whether economic or corporate fundamentals, reassert themselves.

And the prior trend in financial markets resumes such that after eight weeks, 95% of the time, U.S.

equities are actually above their pre-strike levels by an average of about 4%.

So as a consequence, we haven't changed our views.

We have a key investment tenant at Goldman Sachs that history is a useful guide.

The words, this time is different, we think are very dangerous.

We think that history will repeat itself here and eventually markets will resume their forechance.

So we think technological innovation is a feature and not a bug of the U.S.

equity market and the U.S.

economy.

The U.S.

economy is by far the most innovative globally.

It's a key reason that we recommend our clients be strategically overweight U.S.

assets.

Now, certainly AI is going to boost productivity.

And unfortunately, it is going to displace workers.

But as you mentioned, Ed, there's a tremendous amount of new job creation each year.