Financial markets are obsessed with AI, and the broader public is aware of its looming impact on jobs and wages. Yet for the Federal Reserve, the concern has barely registered. This isn\u2019t because its policymakers think AI doesn\u2019t matter. It\u2019s because they have no idea how its potentially vast repercussions will play out \u2014 and no good tools for shaping the outcome.<\/p>\n
Last week, as Amazon cut thousands<\/a> of corporate positions and Nvidia\u2019s market capitalization climbed<\/a> to $5 trillion, Chair Jerome Powell was asked about the subject during the press conference<\/a> that followed the Fed\u2019s latest policy announcement. A significant number of companies, he said, \u201care either announcing that they are not going to be doing much hiring, or actually doing layoffs, and much of the time they\u2019re talking about AI and what it can do. So, we\u2019re watching that very carefully.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Financial markets are obsessed with AI, and the broader public is aware of its looming impact on jobs…\n","protected":false},"author":2,"featured_media":121171,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[220,1671,218,219,1961,61,1095,5232,60,24159,150,1630,5231,1673,80,11510],"class_list":{"0":"post-121170","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-artificial-intelligence","8":"tag-ai","9":"tag-amazon-com-inc","10":"tag-artificial-intelligence","11":"tag-artificialintelligence","12":"tag-federal-reserve","13":"tag-ie","14":"tag-inflation","15":"tag-interest-rates","16":"tag-ireland","17":"tag-jay-powell","18":"tag-jobs","19":"tag-labor","20":"tag-monetary-policy","21":"tag-nvidia-corp","22":"tag-technology","23":"tag-view"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/121170","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=121170"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/121170\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/121171"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=121170"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=121170"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=121170"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}