Neil Dutta

Employee America runs regular analyses of price and jobs data, interprets and forecasts market conditions, and develops new frameworks for Federal Reserve policy, strategy, and communications.

Previously, he served as an analyst within the capital markets function of the research group at the Federal Reserve Bank of New York.

Welcome.

All right.

Um...

We are going to talk about how AI is impacting the economy.

But before we get into that and other topics, let's just start here, take a step back, zoom out as they say.

How do you guys think the economy's doing?

What's your read?

Scanlon, go ahead.

I've never heard the economy described as soggy.

I like that.

It's an ugly word, but maybe the right word to describe it.

Neil, you're feeling a little soggy these days.

I get the truth that you're not as optimistic as you were.

Are you guys surprised that the economy has stayed as strong, the sogginess notwithstanding, with the housing sector in an absolute ice age?

But don't, don't, I was talking about this with Ben on Animal Spirits.

People pull in their savings when they're feeling optimistic.

Right?

So it's not necessarily like, oh no, personal savings is collapsing, what's going on?