Charlottesville, VA (CVILLE RIGHT NOW) –Dr. Edwin T. Burton, a professor of economics at the University of Virginia and a member of Governor Younkin’s economic advisory council, joined WINA Morning News for an in-depth discussion on the current state of the U.S. economy and upcoming Federal Reserve actions. 

On the economy, Dr. Burton warned of potential challenges ahead, saying, “I think Charlottesville is going to look really good over the next 12 to 16 months, regardless of what the national economy does. But I think there are storms ahead for our national economy.” He further emphasized the significance of the Federal Reserve’s upcoming actions, particularly the expected rate cut in September, noting that while it may offer temporary relief, it might not be enough to counteract broader economic weaknesses. 

Burton also highlighted the mixed signals within the economy, pointing out that while some sectors are booming, others are showing signs of weakness, which could complicate the overall economic outlook. 

Dr. Burton expressed skepticism about the long-term economic impact of artificial intelligence, despite its current hype. “Artificial intelligence is great, but like a lot of great ideas, sometimes it’s hard to find people who will pay for it.” 

Listen to the full conversation here: