Will AI’s bubble gum up the US economy?
Experts weigh in on prospects for growth, employment and interest rates if the bubble bursts
Artificial intelligence’s role in the future of the global economy has become a topic of social, political and philosophical debate as tech giants have ramped up investment and firms have looked at how it might augment, or even replace, their labour force.
The debate has extended into US monetary policy. In the press conference following the US Federal Reserve’s October rates announcement, Fed chair Jerome Powell said the rush to AI had brought hiring in the country “close to zero”.
Raphael Bostic
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