IBM Vice Chairman Warns $5 Weekly Gas Hike Could Spark Recession; Scientist Wins Turing Award
IBM vice chairman Gary Cohn warned that rising pump prices, now up $5 week-over-week on a typical four-fill cycle, could trigger a short-term recession and called the current US economy stagflationary. Meanwhile, IBM-affiliated scientist Charles H. Bennett shared the 2025 A.M. Turing Award for pioneering the BB84 quantum encryption protocol.
1. Vice Chairman Issues Recession Warning
IBM vice chairman Gary Cohn highlighted that consumers filling up four times weekly now face about $85 per tank versus $60 a month ago, eroding roughly $80 of after-tax disposable income each week. He cautioned that the $5 week-over-week increase at the pump signals short-term recessionary risks and described the US economy as operating in a stagflationary environment.
2. IBM Scientist Earns Turing Award
Longtime IBM researcher Charles H. Bennett was co-recipient of the 2025 A.M. Turing Award for inventing the BB84 quantum encryption protocol in 1984. This breakthrough uses quantum mechanics to detect interception attempts, reinforcing IBM’s leadership in quantum information science and paving the way for ultra-secure communications and new cybersecurity services.