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The travel industry is turning dream vacations into budgeting nightmares for American families.
After a rough July jobs report, Trump promptly fired the head of the Bureau of Labor Statistics, claiming without evidence that the data was “rigged” to hurt him. If his skin wasn’t thin enough already, he then had a meltdown in response to Sen. Elizabeth Warren’s remarks on CNBC’s "Squawk Box." Warren rightly called him out for failing to live up to his economic promises and raised concerns that he would install “some sycophant who’s going to give data that makes the president happy” as BLS commissioner.
“If multiple airlines are using the same [generative AI] platforms to price fares and these fares are coalescing, we have a potential instance of algorithmic collusion,” said Lindsay Owens, executive director of the progressive think tank Groundwork Collaborative. “There are real concerns here for prices to start conforming across the airlines.”
Customers, of course, might be less interested in being on the receiving end of an AI-powered “exploitation phase.” But such systems are becoming much more common, says Lindsay Owens, the executive director of Groundwork Collaborative, a left-leaning economic policy think tank. “Over the last decade, we’ve seen this emergence of a kind of cottage industry of high-tech pricing advisers,” says Owens, who’s writing a book on the subject. “This isn’t going to stop at Delta,” she continues, noting that retailers and ride-hailing companies are already experimenting with similar tools. “The airline industry is going to export these practices to other industries.”
“This is clearly not an efficient way to gather revenue,” said Alex Jacquez, a former Biden official and the chief of policy and advocacy at Groundwork Collaborative, a liberal group. “And I don’t think it would be a long-term progressive priority as a way to simply collect revenue.”
"It's important to note that we don't even have any deals as deals are commonly understood, except maybe the U.K. agreement, which is still being discussed," Alex Jacquez, chief of policy and advocacy at Groundwork Collaborative, a left-leaning advocacy group, told CBS MoneyWatch.
This week, economic data painted a dire picture of an economy losing steam under President Trump’s management.
Alex Jacquez, a former special assistant to the president for economic development and industrial strategy, told Newsweek that Friday's jobs report "confirms that Trump's policies have been weighing down the economy." He added: "Big downward revisions for May and June show that Trump's chaotic trade policies likely impacted the labor market more than we thought earlier in the year, halting a strong jobs market. Stripping out the health care sector, the U.S. has lost jobs in each of the last three months. "Moreover, there is no sign of an industrial renaissance. Manufacturing jobs have contracted for three straight months and construction jobs are stagnant."
This week, IRS Commissioner Billy Long confirmed that the agency is shuttering its Direct File program after just two filing seasons.
But critics say the frameworks announced consist of “vague promises with large numbers attached that don’t have any mechanisms for follow-through,” according to Alex Jacquez, who served on the Biden administration’s National Economic Council.”