The former Goldman Sachs partner said consumer spending is signaling weakness and questioned whether the pace of AI investment can continue.
Consumer spending patterns are signaling an uneven US economy, while the pace of artificial-intelligence investment may not be sustainable, Abby Joseph Cohen said, Bloomberg reported.
Cohen, a Columbia Business School professor and former Goldman Sachs partner, discussed the outlook on Bloomberg Television. She pointed to recent consumer behavior as a sign that economic conditions are diverging across households.
Cohen also questioned whether current AI investment levels can continue as companies and investors commit heavily to data centers and related infrastructure. Her comments came ahead of the Federal Reserve’s annual Jackson Hole meeting.
The outlook adds to debate over the durability of the AI-led market rally and the strength of consumer demand as policymakers assess the economy.
