Editorial companion

What stands out

Wolfe Research chief economist Stephanie Roth and Osaic chief market strategist Phil Blancato argue that artificial intelligence will be deflationary because it drives persistent cost declines across services and goods, lower unit labor needs, faster automation of white-collar tasks, and cheaper computing power. The claim matters because it reframes how investors should think about profit margins, pricing power, and the durability of inflation pressures at a time when markets are already jittery about AI-driven winners and losers. The conversation highlights a decisive macro thesis rather than a short-term market trade.