Fed Chair ruminates on AI

Speaking to the US Senate Banking Committee on Wednesday to give his semiannual monetary policy report, Powell told elected officials that AI’s effect on the economy to date is “probably not great” yet, but it has “enormous capabilities to make really significant changes in the economy and labor force.”

No timeline given, but another signal that labor disruption is on the horizon. And fiddling with interest rates isn’t going to fix this one.

_{Quote Citation: Catherine Baab, “Fed chair Powell says AI is coming for your job”, Fri 27 Jun 2025 // 19:01 UTC, https://www.theregister.com/2025/06/27/powell_ai_coming_for_your_job/}