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Fed's Kevin Warsh: AI investment surge is a result of "good policy," AI boom is the most important factor for global economic upside; the Federal Reserve will no longer pre-judge meetings, and a working group will hold a field hearing in the San Francisco Bay Area on November 16.
Federal Reserve Chairman Warsh stated that the recent "massive surge in investment" driven by AI is not accidental but the result of "good policy." He believes the AI boom "may be the most important thing on the upside for the global economy." Warsh also said he did not want to give any hints about the deliberations of the October FOMC meeting, emphasizing "no prejudging meetings," "don't believe in saying what I'll do at a meeting now," and stating, "This is a new chapter for the Federal Reserve, we don't do that anymore." Additionally, Warsh revealed that one or more Federal Reserve working groups will hold a field hearing in the San Francisco Bay Area on November 16.
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