P.M. Edition for Aug. 14. Money managers have a problem: Clients are holding near-record amounts in cash—by one estimate more than $3 trillion. <a href="https://www.wsj.com/news/author/miriam-gottfried?mod=WSJ_WNPOD" target="_self" rel="noopener noreferrer">Miriam Gottfried</a>, a reporter and co-host of WSJ’s Take On the Week podcast, explains <a href="https://www.wsj.com/personal-finance/wealth-management-has-a-3-trillion-problem-investors-are-keeping-too-much-cash-ba18dbaf?mod=WSJ_WNPOD" target="_self" rel="noopener noreferrer">why this is happening</a> and what financial planners are pushing their clients to do instead. Plus, two pieces of data—<a href="https://www.wsj.com/economy/weak-retail-sales-number-adds-to-softening-economic-data-c047dce9?mod=WSJ_WNPOD" target="_self" rel="noopener noreferrer">July retail sales</a> and the preliminary August reading of the University of Michigan’s <a href="https://www.wsj.com/economy/consumers/consumer-sentiment-has-dropped-in-august-per-michigan-survey-f2960646?mod=WSJ_WNPOD" target="_self" rel="noopener noreferrer">consumer sentiment survey</a>—came in lower than expected. WSJ economics reporter <a href="https://www.wsj.com/news/author/matt-grossman?mod=WSJ_WNPOD" target="_self" rel="noopener noreferrer">Matt Grossman</a> says that is painting a picture of a weaker U.S. economy. And AI slop is everywhere, making it hard to know what’s real online. We hear from WSJ personal tech columnist <a href="https://www.wsj.com/news/author/nicole-nguyen?mod=WSJ_WNPOD" target="_self" rel="noopener noreferrer">Nicole Nguyen</a> about the inspiration for her recent special Tech News Briefing podcast series, “<a href="https://www.wsj.com/tech/ai/ai-and-the-blurring-of-reality-480c24da?mod=WSJ_WNPOD" target="_self" rel="noopener noreferrer">AI and the Blurring of Reality</a>.” Alex Ossola hosts.

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