Good morning.

Just when it appeared the economic engine was about to pick up speed … with 10-year Treasuries dropping below 4% and mortgage rates falling under 6% … an inflation number came out which may have ended any hope that a rate cut will soon be announced by the Fed.

And markets moved down as a result.

But my focus is on a more worrisome tale told by Jack Dorsey of “Block” … a company formerly known as “Square” … as 40% of their workforce (4,000 people) was just laid off … with AI efficiencies cited as the reason.

I read this just after reading an article (included below) quoting Andrew Young who feels we are at the beginning stages of a “jobocalypse” with a severe loss of jobs starting to affect white collar workers.  But it is pointed out that it is not only this group affected … since money that was freely spent on such things as dog walkers and landscaping services dries up … and money thoughts shift away from convenience and vacation fun and move towards survival.

And the most disturbing observation (jumping back to Jack Dorsey for a moment) is the comment by Bloomberg in his belief that “many companies will ultimately have to make similar moves due to AI.”

Yikes. I had better make sure my lawn mower is tuned up.

Of course, when it rains, it pours … and UBS decided to throw a few sprinkles of precipitation our way by announcing a downgrade of the U.S. stock market as CNBC reports their view that “the dollar risk is a central concern.”

The downbeat news mentioned above … and there is a lot of it … resulted in me expanding my search to something positive and … lo and behold … I found something that survey respondents seem to love …

… as Dunkin Doughnuts has created enormous “Beverage Buckets” … consisting of 48 ounces of iced caffeine which can be grabbed at the drive-through window …

… no doubt resulting in …

… many fans plugging Dunkin locations into their GPS

… while also mapping directions to public restrooms that happen to be on route.

Have a great day,

Joseph G. Witthohn, CFA

Have any questions? Please contact info@teamemerald.com

A Look At The News | February 26, 2026   As of 10:49 AM today … An inflation number came in this morning that investors … and the Fed … certainly won’t like to see as it could stop any hope of a rate cut at the next Fed meeting (CNBC) https://www.cnbc.com/2026/02/27/ppi-january-2026-.html   … which is quite unfortunate as mortgage rates are moving in the right direction, having fallen below 6% for the first time in quite some time (NPR) https://www.npr.org/2026/02/26/nx-s1-5726386/home-mortgage-rates-below-6   AI continues to be adopted but any effect on jobs could be far-reaching … as those who lose jobs would stop spending money on certain services (TheIndependent) https://www.the-independent.com/tech/andrew-yang-artificial-intelligence-job-apocalypse-b2928214.html   … but a powerful person is not impressed by the literary powers of AI … and the Pope is telling priests not to have computer programs write their sermons (NCRonline) https://www.ncronline.org/vatican/pope-leo-tells-priests-not-use-ai-write-homilies-or-seek-likes-tiktok   It is said that cognitive abilities decline with age … but that is not necessarily the case as certain acts can help slow any decline (FoxNews) https://www.foxnews.com/health/some-80-year-olds-still-have-razor-sharp-brains-now-scientists-know-why   … but one thing people of all ages occasionally face is lack of motivation … just getting your butt in gear and getting things done.  Fortunately, there is a way to get moving (ScaryMommy) https://www.scarymommy.com/lifestyle/how-trick-brain-into-motivation-expert-advice The statements above are supplied for educational purposes only. The statements depict the viewpoints and opinion of the author and are not necessarily the views of Emerald Asset Management or its affiliates. The information described herein is taken from sources which are believed to be reliable, but the accuracy and completeness of such information is not guaranteed by us. Emerald Asset Management PA, LLC | 717-556-8900 | 3175 Oregon Pike, Leola, PA 17540 Want to change how you receive these emails? You can unsubscribe from this list. ———————————————————————————- The statements above are supplied for educational purposes only. The statements depict the viewpoints and opinion of the author and are not necessarily the views of Emerald Asset Management or its affiliates. The information described herein is taken from sources which are believed to be reliable, but the accuracy and completeness of such information is not guaranteed by us.