Acting Chairman of the White House Council of Economic Advisers, Pierre Yared, called last weekend’s AI risk report that shook the stock market “science fiction.”

This report from the globally renowned macroeconomic and technology risk research institution Citrini Research paints a picture of 2028: the rapid development of machine intelligence has greatly improved production efficiency but also led to the elimination of a large amount of manual labor—which in turn triggers unemployment, a collapse in consumer spending, and drags down stock indices such as the S&P 500. Yared stated that the report's claim that artificial intelligence will destroy jobs due to its high efficiency contradicts basic economic principles. After delivering a speech at the National Association for Business Economics in Washington, Yared said in a brief interview: "Citrini's report is an interesting work of science fiction—and I like science fiction. But I think if you look at it seriously and think deeply, you'll find that it violates some basic identities in economics."