Fed’s Warsh says AI path will be ‘very bumpy’ but ultimately ‘very good’ for wealth
Warsh said AI could lift productivity and wealth, but he warned that near-term job effects are uncertain and the transition may be bumpy.
- Federal Reserve Chairman Kevin Warsh spoke in Bangkok on Friday, calling AI the "most consequential change" to the global economy while warning the path forward will be "bumpy."
- Persistent inflation pressure stems from AI and the Iran war; diesel prices remain above $6 per gallon, threatening to fuel overall inflation for months to come.
- Policymakers enter a "blackout" period on Saturday ahead of the October 27 Fed meeting. Bank of America analysts wrote that recent core inflation "strengthens the case for an October hike."
- Warsh reiterated that AI will "make economies and countries that put it to good use more productive." Data center companies plan to raise $570 billion from debt markets this year.
- President Donald Trump criticized the Fed board as "very hostile," telling reporters "I'm relying on Kevin." Voters remain dissatisfied with his economic handling as midterm elections approach.
53 Articles
53 Articles
Artificial intelligence will radically transform the monetary policy of financial regulators, although its macroeconomic implications are not yet fully clear, stated U.S. Federal Reserve Chief Kevin Warsh. Speaking at the International Monetary Fund and World Bank governing bodies meeting in Bangkok, Kevin Warsh has identified the emergence of new technologies as the most significant change for the American and world economies, and the programs …
"I would say that the advent of this new technology is probably the most critical change for the U.S. and global economy in my entire life," said Kevin Warsh, on the sidelines of the IMF and World Bank Assemblies in Bangkok. "The rise of artificial intelligence (AI), and the colossal investments it generates, has become the main driver of the growth of the world's economy and trade, while blazing the stock exchanges on Wall Street and in Asia.
Bangkok, Oct 16 (EFE).- The president of the Federal Reserve of the United States (Fed), Kevin Warsh, said this Friday that artificial intelligence (IA) "will fundamentally change the conduct of monetary policy", as it will help the central banks to "better analyze the data", although the road ahead "is full of potholes". "The [...] The entry President of the Federal Reserve says that the AI will "change thoroughly" the monetary policy was first…
The rise of artificial intelligence and the colossal investments it generates has become the main driving force behind the growth of the world's economy and trade The President of the Reserves
‘Most consequential change’: Kevin Warsh says AI will reshape US economy, warns of a ‘bumpy’ road ahead
Federal Reserve Chair Kevin Warsh called AI a major force in the global economy, saying it could raise inflation in the short term through investment while boosting productivity over time. He warned that uncertainty about the technology and emerging markets could make the transition bumpy.
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