{
  "id": 7101237,
  "title": "Dette er det beste Kevin Warsh kan gjøre",
  "url": "https://urgent.news/2026/09/13/dette-er-det-beste-kevin-warsh-kan-gj-re",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-13T11:22:43.000Z",
  "source": {
    "name": "E24 Norway",
    "slug": "e24-norway",
    "url": "https://e24.no/internasjonal-oekonomi/i/ExeqP5/dette-er-det-beste-kevin-warsh-kan-gjoere"
  },
  "original_language": "en",
  "account": null,
  "summary": "In a recent speech at the annual central bank conference in Jackson Hole, Wyoming, the head of the US Federal Reserve, Kevin Warsh, emphasized the need for the Federal Reserve (Fed) to consider a broader range of ideas in monetary policy to develop more reliable models. Warsh acknowledged the limitations of current models, which are rooted in conventional economic thinking, and recognized the Fed's statutory dual mandate of full employment and price stability, despite previously describing the inflation target of 2% as part of its mandate. However, Warsh's hard stance on inflation overlooks a fundamental weakness in his models. He referred to artificial intelligence as a \"new production factor\" that could potentially lead to \"significantly higher growth\" and a \"persistent increase in productivity.\" This perspective aligns with the traditional production function model found in economic textbooks, which illustrates the relationship between capital, labor, and technological advancements as drivers of economic growth. However, this textbook model is fundamentally flawed. Technological advancements lead to creative destruction, where outdated technologies become obsolete, and their functions are absorbed into new, more efficient ones. This process reduces market activity as communication and analysis become faster and cheaper, and the impact of this technological shift is still not fully understood. The creative destruction caused by this technology also extends across borders. Warsh did not address the risk that Chinese AI models could eventually surpass American models. A scenario where cheaper Chinese AI models enter the market and drive down prices could not be described using traditional production functions.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}