The Fed Hikes, Consumers Spend, & AI Doom Returns

The Fed is hiking again, bond yields are back above 5%, and inflation remains stubborn, but the economy and consumer continue to show surprising strength. Greg and Doug break down what the latest rate move means for markets, how the Iran conflict and massive infrastructure spending are pushing prices higher, and why retail sales and employment data don’t look particularly recessionary. Then they turn to AI, the latest warnings about its existential risks, and whether calls for tighter regulation are really about safety or established AI companies trying to protect themselves from competition. Key Takeaways 00:17 — The Fed raises rates as inflation stays hot 04:13 — Infrastructure, Iran and what’s driving inflation 06:31 — Why Iran could be the key to markets and inflation 09:44 — The American consumer keeps spending 11:06 — AI isn’t destroying the job market 13:27 — Is AI really going to destroy humanity? 15:03 — AI regulation and the case for regulatory capture 17:11 — Putting AI doomsday fears in perspective 19:21 — Guardrails, cyber defense and managing AI risk View Transcript Links Americans Without College Degrees Are Having One of the Best Job Markets in Years The Mall Comeback Is Here The Anonymous Math Geek Who Quit Anthropic—and Became the Face of AI Safety How a New Princeton Study Disproves AI Self-Improvement Alarmism Connect with our hosts Doug Stokes Greg Stokes Stokes Family Office Subscribe and stay in touch Apple Podcasts Spotify lagniappe.stokesfamilyoffice.com Disclosure The information in this podcast is educational and general in nature and does not take into consideration the listener's personal circumstances. Therefore, it is not intended to be a substitute for specific, individualized financial, legal, or tax advice. To determine which strategies or investments may be suitable for you, consult the appropriate, qualified professional prior to making a final decision. Different types of investments involve varying degrees of risk. Therefore, it should not be assumed that future performance of any specific investment or investment strategy (including the investments and/or investment strategies referenced in our blogs/podcasts) or any other investment and/or non-investment-related content or services will be profitable, equal any historical performance level(s), be suitable or appropriate for a reader/listener’s individual situation, or prove successful. Moreover, no portion of the blog/podcast content should be construed as a substitute for individual advice or services from the financial professional(s) of a reader/listener’s choosing, including Stokes Family, LLC, a registered investment adviser with the SEC, with which the blogger/podcasters are affiliated.