The Wealth Newsletter: 5th Edition

Read Time: 4-5 minutes.

Hello, Wealthy Person

JPMorgan’s AI Cashflow tool can cut manual labor up to 90%. Read more to see how.

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The Wealthy Menu

• JPMorgan & AI

• Fed is “not far” from cutting interest rates

• Tuesday “morning” Target

• [Self-Development Hack]

More stories in each section

This week in technology and finance:

Fed & Interest Rates

Federal Reserve Chairman Jerome Powell has stated that the Fed is close to considering interest rate cuts. This statement comes amid concerns about inflation and economic growth. The Fed’s stance remains closely watched by investors and policymakers.

One sentence: Jerome Powell is currently considering interest rate cuts.

JPMorgan’s AI Strategy

JPMorgan’s Cash Flow Intelligence, powered by AI, helps businesses manage cash flow. It reduces manual work by almost 90%. Clients love it, and soon it might become a paid service. JPMorgan already has around 2,500 clients using the service.

One sentence: JPMorgan’s AI cash flow management system can reduce manual labor.

This week in stocks:

Target’s Nice Monday

Target’s stock surged on Tuesday due to impressive fourth-quarter earnings. Their earnings increased by 57.7%, reaching $2.98 per share, marking seven consecutive quarters of gains.  Additionally, revenue rose by 1.7% to $31.9 billion, reversing the previous two quarters of declines.

One sentence: Target beats earnings by a LOT.

2024 February Job Report

Job growth exceeded expectations, with 275,000 new jobs added. However, the unemployment rate also rose slightly to 3.9%. Wages increased by 0.1% for the month and were up 4.3% from a year ago.

One sentence: Decent month for jobs (275K new jobs, 3.9% unemployment rate, 0.1% wage increase).

This week for self-development:

Journaling tip from Sahil Bloom:

Promised you, 5 minutes.

Please let me know how you liked today’s newsletter by replying. I would love to know more about you!

Thanks,
Abhishek Shanbhag