Fed Chair Jerome Powell just connected AI to inflation.
- 4 days ago
- 1 min read
THE MOTLEY FOOL — President Trump's nominee to become the next Federal Reserve chairman, Kevin Warsh, wrote in The Wall Street Journal last year that artificial intelligence (AI) "will be a significant disinflationary force, increasing productivity and bolstering American competitiveness." The man Warsh would like to replace has a different view, at least for now.
Fed Chair Jerome Powell stated last week during a press conference, "In the short term, what's happening is we're building data centers everywhere, and that's actually putting pressure on all kinds of goods and services that go into building these things." He added, "So that's actually probably pushing inflation up."
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