Warsh Says Fed Cares 'Very Much' About AI Developments

Warsh says AI's hyperscalers are part of why your borrowing costs are rising: ‘The competition for capital is real’

The Federal Reserve raised its benchmark rate by a quarter point on Wednesday, to 3.75-4%. But the rate that matters more for mortgages, corporate loans, and the federal government’s interest bill is the 10-year Treasury yield, which the Fed doesn’t set, has been rising for months, and just hit the psychologically terrorizing 5%.When a reporter asked Fed Chair Kevin Warsh what was behind that rise, he gave three reasons; one of which was due to …

US Fed Chairman Kevin Warsh Calls for Task Force to Assess AI's Implications for Future Monetary Policy

Get latest articles and stories on Business at LatestLY. US Federal Reserve Chairman Kevin Warsh called for a task force to be established to assess the implications of artificial intelligence for future monetary policy, saying it should report by the end of the year, as AI could have significant effects on both demand and supply in the economy. Business News | US Fed Chairman Kevin Warsh Calls for Task Force to Assess AI's Implications for Futu…

Warsh says Fed cares 'very much' about AI developments

Federal Reserve Chair Kevin Warsh said Wednesday the central bank is keeping tabs on rapidly developing artificial intelligence (AI) models. “We care very much about what's happening in artificial intelligence,” Warsh told reporters, after the Federal Open Market Committee raised interest rates by a quarter point. The Fed chair noted he is interested in how...