“My advice to those kids, if you ask them if they’re worried about, they say they’re worried about—these are kids that we hire, 200,000 applications, we hire 2000 people.” Moynihan added that “if you ask them if they’re scared, they say they are. And I understand that. But I say, harness it … It’ll be your world ahead of you,” Moynihan said.
Moynihan said it’s too soon to say how AI will play out in the job market, but he hopes to use efficiencies created by the technology to invest in more growth.
“We want to drive more growth. So the AI will be spent—the efficiencies from AI will be spent to keep growing the company, I think,” he said.
“The idea that we are, like, hanging on the thread by the Fed moving rates 25 basis points, it seems to me we’ve gotten out of whack,” he said.
Jerome Powell and multiple economists have validated that Gen Z is facing a genuine “hiring nightmare,” especially for recent college graduates trying to land their first white-collar job. This is tied to a low‑hire, low‑fire labor market, the rapid automation of entry‑level roles, and a tech industry whose workforce is getting older as Gen Z’s presence shrinks.
