Fed’s Tom Barkin, a former McKinsey CFO, says the ‘AI Apocalypse’ hasn’t arrived

fortune.com · 2026-09-25

The Richmond Fed president says companies are investing heavily in AI to boost productivity, but strong earnings are keeping them from making deep cuts to their workforces.

TickrTrends take: PNR operates in the Industrials sector at a valuation currently assessed as undervalued by TickrTrends. Comments from Federal Reserve officials regarding AI development trajectories may influence market sentiment around industrial technology spending and automation investments, sectors where PNR could face either headwinds or tailwinds depending on how corporate capital allocation responds to changing AI expectations. Valuation-focused investors should monitor whether market reassessments of AI's near-term commercial impact alter the pace of industrial equipment orders and technology adoption cycles that could affect PNR's business fundamentals.

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