Federal Reserve chairman Jerome Powell admits fear of AI killing jobs is real
Federal Reserve Chairman Jerome Powell acknowledged AI's potential for widespread job losses, noting that companies are increasingly citing AI as a reason for hiring freezes and layoffs. Despite rising productivity, the labor market shows signs of weakness, creating a policy dilemma for the Fed as it navigates inflation and employment goals.
Federal Reserve Chairman Jerome Powell acknowledged AI's potential for widespread job losses, noting that companies are increasingly citing AI as a reason for hiring freezes and layoffs. Despite rising productivity, the labor market shows signs of weakness, creating a policy dilemma for the Fed as it navigates inflation and employment goals.
