The U.S. may already be in a “plain vanilla recession” and AI may contribute to additional layoffs, according to Danielle DiMartino Booth.
The U.S. may already be in a"plain vanilla recession," which Danielle DiMartino Booth believes will be backdated to October 2023.
The U.S. may already be in a"plain vanilla recession," according to Danielle DiMartino Booth, CEO and chief strategist for Quill Intelligence and a former advisor to the Federal Reserve Bank of Dallas.DiMartino Booth explained how a weakening job market and increasing Chapter 11 bankruptcy filings signal that the U.S. is already in a recession. She believes it started sometime around last October.
"America's chief financial officers — tasked as they are with controlling costs in an economic downturn — have clearly demonstrated that AI will become a mainstay as chapter one of the rollout of this technology continues to play out, replacing warm bodies with technology," DiMartino Booth told CNBC.
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