Kevin Warsh vows 2% inflation target as inflation hits 3.5%
Fed Chair Kevin Warsh just told lawmakers he's serious about keeping inflation in check, aiming for that 2% target, even with global events like the U.S.-Iran conflict making things tricky.
He pointed out that the Fed's tools, especially interest rates, are there to manage long-term prices.
Good news: inflation dropped from 4.2% in May to 3.5% in June after a U.S.-Iran ceasefire.
Fed task force examines AI risks
Warsh also talked about how AI could shake up jobs and productivity.
The Fed has a special task force (with experts like Marc Andreessen) looking into it, but some senators worry about tech insiders calling the shots.
Warsh admitted AI might disrupt industries but said it can also boost growth, and promised to listen to both workers and employers before making any big decisions.