JPMorgan's Dubravko Lakos-Bujas said on Wednesday that the latest technology was still several years away from making a significant economic impact.
The excitement around artificial intelligence has helped the stock market soar in 2023, but the growth won't be enough to keep the U.S. economy out of a recession, according to a top JPMorgan strategist. Dubravko Lakos-Bujas, the bank's head of U.S. equity and quantitative strategy, said Wednesday on CNBC's " Halftime Report " that the latest technology is still several years away from making a significant economic impact.
Predictions of a recession and a struggling stock market were more common on Wall Street earlier this year, but the U.S. has continued to add jobs — while inflation has declined and the stock market has rebounded. That has made some economists and strategists warm up to the idea that the Federal Reserve's goal of a so-called soft landing is possible, or maybe even not optimistic enough.
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