Federal Reserve Chair Kevin Warsh to Attend AI Productivity Hearing

Federal Reserve Chair Kevin Warsh announced he will attend a field hearing of the central bank's productivity and jobs task force on November 16 in the San Francisco Bay Area. The announcement followed a news conference where the Federal Reserve decided to hold interest rates steady.

The hearing aims to gather input on how technology and AI-driven productivity influence the economy and monetary policy across near, medium, and long-term horizons. Specifically, the task force is examining whether AI will facilitate or hinder the ability of the Federal Reserve to maintain price stability and the subsequent effects on employment.

Warsh noted that while five task forces are currently active and some are nearing year-end deadlines, their findings are unlikely to affect the current policy juncture.