US central bank: Fed Chairman Warsh praises "enormous investment wave" in AI and gives investors new confidence
Statements by the Fed chief support stock prices and dampen the prospect of a near-term interest rate hike. On Friday, Warsh gave investors another sample of his new style.
US Federal Reserve Chairman Kevin Warsh stated that the boom in Artificial Intelligence (AI) will likely drive economic growth in the US and worldwide for the foreseeable future. Speaking at the International Monetary Fund (IMF) and World Bank spring meeting in Bangkok, Warsh expressed optimism about the current structural growth and massive investment wave.
The comments have helped alleviate concerns that huge investments in AI may not pay off, contributing to a positive market sentiment. Warsh also hinted that the Fed may raise interest rates again, possibly in December, citing that the economy has largely developed as expected.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
