Economic Meltdown Blamed On Jerome Powell, AI Gets An Unearned Tattoo
KEY POINTS
- •Gbenga Ajilore of the Center for Budget Policy and Priorities warns of a weakening job market and rising unemployment.
- •Despite AI’s buzz, economists argue that high federal interest rates and inflation contribute more to layoffs and hiring slowdowns.
- •The divergence between stock market gains and falling job openings started in 2022 alongside rising Fed rates and ChatGPT's launch.
Gbenga Ajilore, chief economist at the left-leaning Center for Budget Policy and Priorities, admits America’s job market isn’t faltering because of ChatGPT but because the economy is 'paralyzed.' Unemployment climbed to 4.6% last month, with college grads discovering their paper diplomas don’t pay mortgage. Meanwhile, the ‘Scariest Chart in the World’ plots S&P 500 sky-rocketing as job vacancies plummet—coinciding with ChatGPT’s 2022 debut and Federal interest rate hikes of over 5 points, courtesy of Jerome Powell and friends. Nvidia’s urging employees to ‘use AI for every task possible’ sounds like a call for robot apocalypse, but Ajilore calls it a 'cheat code' that actually ‘makes you mess things up.’ Sorry bots, not your fault (yet).
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ChatGPT walks into the job market only to find Jerome Powell jacked up interest rates and stole its thunder like an economic mic thief.
People blame AI for job losses but ignore the fact that Jerome Powell is hiking interest rates like he’s raising hotel prices during a pandemic.
The economy is like that one driver who blames the GPS for getting lost — but really ignored the map, aka Powell's rate hikes.
Source: Businessinsider | Published: 12/17/2025 | Author: Allie Kelly
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