The Latest Breaking News from Paul Donovan

The (American) kids aren't alright.

In 2025, the rising unemployment rate among Americans under 25, specifically recent graduates, has become a significant economic concern. This problem seems to be uniquely American, stemming from a “no hire, no fire” economy, rather than the advent of artificial intelligence (AI).

"The U.S. labor market experience is peculiar," UBS' Paul Donovan wrote in a UBS note asking, "the kids are alright?"

Job weakness and softer inflation data push markets to fully price in a September Fed cut, but Powell’s decision could spark volatility if he resists.

While UBS’s Paul Donovan told clients the attempt was “completely unprecedented,” Wharton’s Jeremy Siegel argued her ousting adds “noise but little substance” compared with the Fed’s longer-term policy pivots.

A band of misfits aboard a stolen planet-killing starship, the wild, weird Lexx is the best 90s sci-fi show you've never seen.

Jamie Dimon warns markets are growing complacent on Trump’s tariff threats, as UBS's Paul Donovan flags a paradox fueling investor overconfidence.

Fed officials are increasingly split on rate cuts, though UBS’s Paul Donovan says their indecision currently amounts to little more than “masterful inactivity.”

Trump’s next moves could impact how countries go about the next round of trade talks

In the financial crisis American consumers stopped showing their wealth off because they were “ashamed,” one expert tells Fortune, and this may come around again.

Here’s a snapshot of the action this morning prior to the opening bell in New York.