Fed's Warsh says AI path will be 'very bumpy' but ultimately 'very good' for wealth

What happened: Fed's Warsh said the path for AI will be "very bumpy" but ultimately "very good" for wealth, adding he is optimistic AI will make economies that use it well more productive and wealthier. Why it matters: Warsh's view signals that a Fed official expects AI to lift productivity and wealth over time, while cautioning that the transition will not be smooth. Key numbers: none.

Fed's Warsh said the path for AI will be "very bumpy" but ultimately "very good" for wealth, adding he is optimistic AI will make economies that use it well more productive and wealthier.

Warsh's view signals that a Fed official expects AI to lift productivity and wealth over time, while cautioning that the transition will not be smooth. Key numbers: none.