In brief
- Fed Chair Kevin Warsh will lead a November 16 forum on AI’s impact on inflation, productivity, and employment.
- AI infrastructure spending could keep interest rates higher for longer, adding pressure to Bitcoin.
- Bitcoin miners are also feeling AI’s impact as technology companies compete for electricity and data centers.
Federal Reserve Chair Kevin Warsh will convene a public forum Monday to examine whether artificial intelligence will bring down inflation, drive prices higher, or replace American workers.
The November 16 conference in San Francisco will bring together technology executives, economists, and employers to examine how AI is reshaping the economy.
The findings could influence how the Fed approaches interest rates, a major factor in Bitcoin’s price movements as investors weigh whether to put money into risky assets or safer alternatives.
Warsh has argued that AI could help companies produce more goods and services at lower costs, easing inflation without requiring the Fed to keep borrowing expensive.
But some of his colleagues see a different problem: The AI boom is already making things more expensive, while the promised productivity benefits remain largely theoretical.
