Fed Chair on AI's economic impact
The head of the U.S. Federal Reserve, Jerome Powell, stated that the AI boom represents the most impactful transformation in the global economy during his lifetime. He pointed out that this technology will lead to increased productivity and the creation of new wealth, despite short-term obstacles and risks such as rising prices and the possibility of sudden market reversals. He also mentioned that the AI boom will contribute to boosting economic growth and sustainability, emphasizing the need for careful oversight by central banks. At the same time, the International Monetary Fund warned of potential risks to financial stability if unexpected volatility occurs in markets and investments.
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