Despite negative rates, the economy has unexpectedly weakened.
The layoffs will affect less than 1 percent of the workers in the wealth management business.
Hopes have faded that central banks will make early rate cuts.
The asset manager has seen impressive inflows over the past two years.
The asset manager is targeting 'north of $25 billion' of assets in its model portfolios over the next five to six years, up from roughly $5 billion currently.
The SEC chair warned companies against 'AI washing' when they talk to investors about their use of the technology.
The core consumer price index, excluding food and energy costs, rose 0.4% in January, which was more than expected and the most in eight months.
Markets expect inflation to have eased but may be overpricing Fed cuts.
Allocations to these equities is highest since summer 2020.
Prices should be moderate despite weakening demand.
