Jerome Powell on signs of an AI bubble and an economy leaning too hard on the rich: ‘Unusually large amounts of economic activity’

Jerome Powell on signs of an AI bubble and an economy leaning too hard on the rich: ‘Unusually large amounts of economic activity’

For months, Wall Street commentators have fretted that the artificial intelligence boom looks like a bubble, with capital spending – which some analysts estimate could reach $3 trillion by 2028 – fattening a few mega-cap firms, while lower-income workers suffer from a slack labor market.  On Wednesday, they got validation from an unlikely source: the chair of the Federal Reserve.  Jerome Powell said the U.S. is seeing “unusually large amounts of…

Jerome Powell Warns of Emerging AI Bubble and Wealth-Dependent Economy Risks – Archyde

Archyde Powell Signals AI Boom is Widening Wealth Gap Table of Contents 1. Powell Signals AI Boom is Widening Wealth Gap 2. AI Investment Fuels Economic Growth, But For Whom? 3.… You can read the full story here: Jerome Powell Warns of Emerging AI Bubble and Wealth-Dependent Economy Risks.