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...One, we can now flood social media with accounts that are truly indistinguishable from a human, so extremely scalable bot farms can pump out a particular narrative....
...Powell’s interview took place a day before non-farm payroll figures showed the economy added 353,000 jobs, almost twice what economists had forecast....
...Before Friday’s non-farm payrolls report, which one economist called “stunning”, many investors had been expecting six interest rate cuts this year....
...Investors are looking ahead to a busy week of commentary from Federal Reserve policymakers, including chair Jay Powell, who will speak before the House financial services committee on Wednesday....
...The moves came after data on jobless claims revealed further cooling in the labour market ahead of Friday’s closely watched non-farm payrolls report....
...And the Powell Fed reduced rates three times in 2019, even though GDP growth was still positive, though slowing....
...Such models require vast amounts of computing power to operate, requiring the use of huge server farms that use chilled water to cool down equipment by absorbing heat from the air....
...The non-farm payroll figures for February surpassed economists’ predictions of 200,000 new jobs and indicated that the US services sector remains strong....
...However, a question remains over the extent to which Fed chair Jay Powell will hint at cuts on the horizon....
...The US will report its non-farm payroll figures for October later in the day....
...This is salvation... run-off from a drought-busting winter downpour that came just in the nick of time for farms and cities across much of the western United States. We realise we are on the brink....
...investors include a former US solicitor general and quantitative traders from funds including Jane Street and the venture capital arm of Emerson Collective — the philanthropic organisation run by Laurene Powell...
...The charts below show US non-farm payroll revisions with an average monthly revision since January 2023 so far of -19,300, 7 per cent lower than the original published figures....
...Luckily for the Fed, non-farm payrolls came in much weaker on Friday than expected too, undermining the “strong pace” description of the US economy and restoring the balance....
...US jobs: Non-farm payrolls data is expected to show the US added 200,000 jobs in July, down slightly from 209,000 in June....
...Dina Powell McCormick, who ran sovereign wealth fund coverage, will join Goldman’s former co-head of investment banking Gregg Lemkau as vice-chair of BDT & MSD Partners....
...The data comes ahead of the monthly non-farm payrolls and unemployment data on Friday, which will be very closely watched by investors....
...BDT & MSD Partners also recently hired former Goldman Sachs partner Dina Powell McCormick as a vice-chair....
...The all-important yet hard-to-predict non-farm payrolls numbers, due on Friday, are expected to show monthly job gains of 170,000 in August, a more moderate pace....
...The economy created 187,000 new non-farm jobs in August — higher than forecasts of 170,000 but the third consecutive month below the 200,000 mark....
...Economists polled by Reuters predict that non-farm payrolls grew by 170,000 in August, compared with 187,000 in July....
...Persistently high inflation and a fragile economy point to the BoE sticking, while Fed chair Jay Powell has cited a “range of uncertainties” and pledged the central bank will move carefully....
...Founded 160 years ago, Hunter spent most of its life supplying farm workers and well-heeled country dwellers but in recent decades has acquired a more glamorous image as it became the country footwear of...
...Economists are predicting that employment figures on Friday will show non-farm payrolls grew by about 170,000 in August....
...And when you think that the farm and life science industries are regulated very heavily, they’re also very conservative....
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