FEDERAL RESERVE CHAIRMAN WALSH: OPTIMISTIC ECONOMICS AND CAUTIOUS AI PROSPERITY

On 14 July, Federal Reserve Chairman Walsh was optimistic about the overall economic situation. In his view, the labour market was generally stable, with almost no layoffs and nominal wages had increased. The Fed Chairman is more cautious about the growth of artificial intelligence. In his view, artificial intelligence, while driving an increase in business investment, also created economic uncertainty. He said: “It is not clear to what extent the economy can benefit from the development of artificial intelligence.” “New opportunities in the economic sphere also present new challenges for policymakers. The Fed is closely following the impact of these changes on inflation and the labour market.”