Bank of America is predicting the Federal Reserve will issue rate hikes by the end of this year in response to rising inflation. They are predicting a three-quarter-point increase in the benchmark rate. General Motors replaced 1,000 workers with “collaborative robots” in one plant alone. Oracle revealed it replaced 21,000 workers with AI solutions so far this year. The loss of jobs through technology, rising inflation, and potential rate hikes portend a poor-performing economy leading up to the November 2026 Midterm elections.
