Chicago Fed President Austan Goolsbee says AI boom worsens inflation
The Federal Reserve says the rush to build new AI data centers is actually making inflation worse.
According to Chicago Fed President Austan Goolsbee, all this investment in AI is driving up demand and affecting more than just the tech world.
Add in high oil prices (thanks in part to Trump's Iran war already sending the price of oil soaring), and prices everywhere are feeling the heat.
Fed's possible hike risks tech, housing
Because of AI's boom, gadgets are getting pricier, and there aren't enough skilled workers for housing projects.
The Fed raised interest rates last month, the first time in three years, but inflation still isn't under control.
Another rate hike might be coming, though it could make things tougher for tech companies and show that the US economy has some deeper issues to work through.