Pierre Jarid, acting chairman of the White House Council of Economic Advisers, called the artificial intelligence risk report released last weekend—which sent stock markets into a tailspin—"science fiction." The report, from Citrini Research—a globally renowned research firm specializing in macroeconomic and technology risks—paints a picture of the year 2028: rapid advancements in machine intelligence have dramatically increased productivity but have also led to the elimination of a large number of manual jobs—thereby triggering unemployment, a collapse in consumer spending, and dragging down stock indices such as the S&P 500. Yarid stated that the report’s claim that AI would destroy jobs due to its high efficiency defies basic economic principles. In a brief interview following his speech at the National Association for Business Economics in Washington, Yared said, “The Citrini report is an interesting work of science fiction—and I like science fiction. But I think if you examine it closely and think deeply about it, you’ll find that it contradicts some basic economic identities.”