How AI is Tearing Through The White-Collar Workforce

WSJ What’s News

The Wall Street Journal

News, Daily News

4 • 4K Ratings

🗓️ 29 October 2025

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

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Summary

A.M. Edition for Oct. 29. It has been a tough month for the white-collar workforce, as companies including Amazon, United Parcel Service and Target all announced layoffs. WSJ’s Chip Cutter explains how a new normal is emerging for a leaner workforce, driven in part by artificial intelligence. Plus, the Federal Reserve will announce its latest policy decision today. WSJ’s Nick Timiraos explains what central bankers are weighing amid a government shutdown that is leaving a gap in the official data. And, with over three thousand billionaires on the planet, Americans are dominating their collective wealth. Caitlin McCabe hosts. Sign up for the WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:27.9	It's Fed Day, but a bit of an unusual one, as the government shutdown leaves officials without
0:34.5	their typical data, plus why white-collar jobs in the U.S. are vanishing.
0:40.1	And America leads with the most billionaires worldwide, but no one is safe.
0:45.5	The thing is that if you have a billion or two billion, next year you might not have a billion at all.
0:52.9	It's Wednesday, October 29th. I'm Caitlin McCabe for
0:56.2	the Wall Street Journal, and here is the AM edition of What's News. The top headlines and business
1:01.0	stories moving your world today. All eyes are on the Federal Reserve today, which will announce
1:09.7	its latest policy decision at 2 p.m.
1:12.4	Eastern.
1:13.4	Investors widely expect the central bank to cut rates by a quarter percentage point,
1:18.2	lowering the target range for the federal funds rate to 3.75% to 4%.
1:23.9	The journal's chief economics correspondent Nick Timrose joins me now to discuss what we might expect from today's meeting.
1:31.4	Nick, thanks for being here. We mentioned that a rate cut today seems widely expected.
1:37.3	Can you walk us through what the Fed is weighing as it makes this decision today?
1:41.3	The big question really for this meeting is, where does it leave
1:47.3	everybody on the rate setting committee in thinking about another interest rate cut in December?
1:52.8	Because if we go back to their previous meeting in September, they released quarterly
	...

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