◆ Daily Global-Macro Brief LIVE
TODAY IN 30 SECONDS
  1. Kevin Warsh to be sworn in as Federal Reserve chair
  2. AI-driven labor shift favors blue-collar roles over college degrees in U.S. economy
  3. Google overhauls search box with AI-first redesign, merging traditional and conversational modes
  4. Bank of Japan releases Q1 2026 loan and household borrowing data, revises series back to Q3 2024
  5. Data center server electricity use projected to reach up to 818 BkWh by 2050

Macro/Economy 3

  • AT&T seeks blue-collar workers (electricians, technicians) for AI/data center infrastructure amid blue-collar job boom
  • AI exposure threatens entry-level white-collar roles (marketing, legal, HR) while creating demand for skilled trades
  • Nvidia’s Huang projects 6-figure salaries for plumbers/electricians in AI-fueled infrastructure buildout
  • AT&T to invest $250B over 5 years, with 15% allocated to hiring/training front-line technicians
  • Q1 2026 figures for "Loans and Bills Discounted by Sector" and "Loans to Households" now posted on BOJ Time-Series Data Search.
  • Revisions applied to series from Q3 2024 through Q4 2025, covering outstanding loans for fixed investment and new loans by Shinkin banks.
  • Data include domestic licensed banks (banking, trust, overseas office accounts) and Shinkin banks, detailing loan amounts, borrower counts and consumer loans.
  • Server electricity consumption projected at 446‑818 BkWh by 2050
  • Standalone data centers could use 581 BkWh in 2050 under high demand scenario
  • Servers accounted for about 7% of commercial electricity use in 2025
  • Servers' share of commercial building electricity expected to rise to 22‑33% by 2050

Central Banks 1

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  • Kevin Warsh to be sworn in as Federal Reserve chair on Friday
  • Senate confirms Warsh in nearly total party-line vote
  • Warsh to succeed Jerome Powell, who continues to serve on a pro-tempore basis

Tech/AI 1

  • New search box accepts multimodal inputs (text, images, PDFs, videos, Chrome tabs) and dynamically expands for conversational queries
  • AI Overviews and AI Mode merged into single seamless experience, eliminating user choice between traditional and AI-driven results
  • AI Mode usage hit 1B monthly users in first year, with queries doubling quarterly; AI Overviews reach 2.5B monthly users