EconomyOpen Interest: Alphabet sales miss reignites AI fears

The program previews the U.S. trading day: Alphabet’s sales miss revived AI concerns, while Microsoft held up against the gloom. Questions over the spending boom spread beyond Big Tech and hit Caterpillar. The Fed held off, the ECB is next, and the contest to replace Lagarde is heating up. White House NEC Director Kevin Hassett discusses inflation and the Fed’s next move.