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post: FED'S DALY: **NEW TECHNOLOGIES OFTEN REALLOCATE LABOR, WITH A 'PAINFUL GAP' FOR SOME WORKERS **NO ONE KNOWS THE IMPACT OF GENERATIVE AI ON LABOR AND THE ECONOMY
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US consumer confidence unexpectedly rose in May for the first time in four months as views about business conditions and the labor market were less negative. The Conference Board’s gauge of sentiment increased to 102 from an upwardly revised 97.5 in April, according to data out Tuesday. The reading beat all estimates in a Bloomberg survey of economists. ...
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