Amazon is Replacing a Record Number Of Employees to A.I.

Today on the show:

1. Amazon Announces Biggest Layoff in Company History with 14,000 Cuts - Amazon laying off 14,000 workers (4% of corporate/tech workforce) as CEO Andy Jassy embraces AI to shrink workforce
2. U.S. Debt Hits $38 Trillion in Fastest Accumulation Outside Pandemic - U.S. added $1 trillion in debt in less than two months; government likely to choose inflation option, eroding purchasing power
3. Ground Coffee Prices Hit $9.14 as Tariffs and Weather Push Costs 41% Higher - Average pound of ground coffee now $9.14, up 41% year-over-year due to tariffs and poor weather
4. Inherited IRA Tax Change for 2025 Could Trigger 25% Penalty - Starting 2025, certain heirs must take required minimum distributions or face up to 25% IRS penalty
5. Social Security Benefits to Increase 2.8% in 2026, Adding About $56 Monthly - 75 million beneficiaries will see 2.8% COLA increase starting January, though Medicare premium hikes may offset gains
6. Federal Reserve Expected to Cut Interest Rates Again This Week - 92% of economists expect quarter-point cut, with potential for two more cuts by January, bringing rate to 3.2% by end of 2026

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