#WarshSaysInflationIsFedTopFocus
The Federal Reserve says that inflation remains its primary concern.
It kept interest rates between 3.5% and 3.75% in July. Warsh praises AI’s potential to drive substantially higher economic growth.
Warsh, 56, in his first appearance as president of the Federal Reserve, described his approach to steering the economy in an attempt to address critics who complain that his limited public remarks have left markets confused about the central bank’s intentions.
He praised advances in artificial intelligence as a "turning point in history" offering the "potential for substantially greater growth." However, he said that this long-term promise is currently overshadowed by the need to fight inflation.
The Federal Reserve should focus primarily on prices right now, Warsh said. We must be confident that underlying inflation is moving toward our goal, clearly and at a sufficient pace. Otherwise, we will have work to do.
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The Federal Reserve says that inflation remains its primary concern.
It kept interest rates between 3.5% and 3.75% in July. Warsh praises AI’s potential to drive substantially higher economic growth.
Warsh, 56, in his first appearance as president of the Federal Reserve, described his approach to steering the economy in an attempt to address critics who complain that his limited public remarks have left markets confused about the central bank’s intentions.
He praised advances in artificial intelligence as a "turning point in history" offering the "potential for substantially greater growth." However, he said that this long-term promise is currently overshadowed by the need to fight inflation.
The Federal Reserve should focus primarily on prices right now, Warsh said. We must be confident that underlying inflation is moving toward our goal, clearly and at a sufficient pace. Otherwise, we will have work to do.
$AAPLB
$AAPL.US
$GOOGL.US
