Kevin Warsh says AI likely most consequential change to economies
Business
Federal Reserve Chair Kevin Warsh says artificial intelligence is likely to be the most consequential change to hit the US and global economies in his lifetime.
Chatting with IMF head Kristalina Georgieva, he explained that while AI could boost productivity and create wealth in the long run, its short-term impact on jobs is still uncertain, and could be a bit rocky.
Warsh stresses smart policies amid inflation
Warsh pointed out that we're still figuring out exactly how AI will affect different industries, especially when it comes to jobs, inflation, and economic growth.
He also emphasized how important it is for countries to keep smart economic policies in place as they navigate rising prices worldwide.
The Fed remains focused on keeping prices stable as these changes unfold.