Michael Barr warns Fed may raise rates if inflation persists
Business
Heads up: The Federal Reserve might raise interest rates soon if inflation doesn't start cooling off.
Governor Michael Barr said inflation has been stubbornly high for more than five years, and the Fed's big meeting on September 15-16 will decide what's next, depending on fresh economic data.
Barr flags AI growth, data control
Barr pointed out that the economy is still strong, thanks to AI-driven investments and low unemployment.
He also flagged concerns about how fast AI is growing, especially when it comes to keeping our personal data safe.
As Barr put it, "We need to be sure that the data that is being harnessed by AI is not shared in a way that reduces the ability of consumers to control their own information."