

Daybreak Weekend: US CPI, Paris AI Summit, Trade War
Feb 7, 2025
Parmy Olson, a technology opinion columnist at Bloomberg, dives into the Paris AI Action Summit, discussing the fierce global competition in artificial intelligence. Karishma Vaswani, another Bloomberg Opinion columnist, analyzes the ramifications of Donald Trump's escalating trade war with China, shedding light on the potential economic fallout from tariff policies. Both guests highlight the challenges and opportunities posed by these crucial global issues, underscoring the interplay between innovation, regulation, and international relations.
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Mixed January Jobs Report
- The January jobs report presents mixed signals, with lower-than-expected job growth but also smaller downward revisions than anticipated.
- Slowing payroll growth, alongside concerning industry-level revisions, suggests labor market cooling.
Decreasing Unemployment Rate
- Despite mixed job growth data, the unemployment rate decreased due to population and employment estimate updates.
- This positive trend contributes to former President Biden's economic legacy of lowering inflation without major labor market disruption.
Stubbornly High Inflation
- January CPI is expected to show a slight slowdown in headline inflation due to stable gasoline prices.
- However, core inflation remains high, indicating a challenging path towards the Fed's 2% target, partly due to the absence of typical goods deflation.