IBM to cut 8000 jobs for A.I, July CPI up by 3.2% and Rate cuts by next year.

1. July CPI rose by 3.2% from the prior year, a slight uptick from June's 3% increase. Monthly, prices went up by 0.2% in July, matching June's increase 2. IBM's CEO Arvind Krishna has announced a pause in hiring, along with plans to replace around 8,000 jobs with AI technology. The first targets will be back-office functions, starting with HR roles. IBM is actively recruiting for AI-related positions to facilitate this transition, which will unfold gradually over a few years. 3. In an insightful report by Goldman Sachs, it's predicted that the Federal Reserve might implement rate cuts as early as next May. This decision, as outlined by Goldman Sachs' economics team, is projected to occur in the second quarter of the coming year, regardless of whether the US economy enters a recession.