Fed Chair Powell Says AI Is Coming For Your Job

Federal Reserve Chair Jerome Powell informed the U.S. Senate that while AI has not yet significantly impacted the economy or labor market, its transformative potential is undeniable, albeit with an uncertain timeline for implementation. He emphasized that the Fed lacks the tools to address the resulting social and labor market issues, focusing solely on interest rates.

Explain It To Me Like I’m 5:

Federal Reserve Chair Jerome Powell told the Senate that AI will eventually change jobs and the economy a lot, but it’s hard to say when that will happen.

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