Jefferies’ Chris Wood warns of significant capital destruction in the current AI investment cycle, drawing parallels to past boom-and-bust scenarios. He highlights that US tech giants, investing heavily in AI capex, are most likely to bear the brunt of this potential destruction, unlike China’s comparatively smaller investment.
Fed’s Jefferson urges patience on rates; Kashkari sees more hikes ahead
Federal Reserve Vice Chair Philip Jefferson stated that he sees no immediate need for further interest rate adjustments. He emphasized that future decisions would depend