Watch Desk posted an update
Federal Reserve chair Kevin Warsh says AI is driving a major investment surge in the US, while warning that the transition to its longer-term productivity gains will be bumpy. He has also announced a 16 November field hearing in the Bay Area on how AI and other technologies are reshaping productivity and jobs, Axios reports.
Why it mattersIt’s a rare look at AI’s economic effects through the central bank’s lens. The hearing is part of a task force, not a signal of an imminent change in interest rates. Even the Fed is booking a meeting to discuss what AI might do next.
Discuss: Should central banks treat AI’s productivity potential as a reason to rethink monetary policy now, or wait for clearer evidence of its effects on jobs and prices?
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