The Federal Reserve's AI Challenge

2025-11-06 15:30:00 ET

Federal Reserve Chair Jerome Powell has likened setting monetary policy in the absence of updated official economic data to driving a car in the fog. No longer can the Fed be sure how rapidly the labor market might be deteriorating or how quickly inflation might be rising due to earlier import tariff hikes. In those circumstances, Powell has suggested that the Fed would be well-advised to slow down the pace of its interest rate cuts as it aims to fulfill the Fed’s dual mandate of maximum employment and price stability....

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