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Danielle DiMartino Booth, a former advisor to the Federal Reserve, recently explained how working to correct the trade deficit and maximizing the output of American companies is now a much taller order amid the current tariffs.
In a recent episode of “The Bottom Line,” Booth, CEO and Chief Strategist of Quill Intelligence, described how corporations in America no longer have a large financial cushion to weather economic instability.
“This is a time for the CEO to be working 20 hours a day and the CFO to be working 18 hours a day,” said Booth. “The more efficiently companies are being run today, the greater the prognosis for their survival.”
Booth also discussed the need to prepare current and future workers for the ever-changing job market in the face of artificial intelligence developments and increasing living costs. For present workers, now more than ever there is a need for community and network, to “get whatever work you possibly can and lean on your relatives” in order for people to “save to the extent that they can and economize where they can,” said Booth. And for the next generation of employees, their greatest tool lies in their creativity, according to Booth, in “things that a computer cannot replace” because “we’re seeing a wider acceptance and a renaissance of trade.”
