Powell: Inflation Risk Has Eased

BlockBeats News, July 1st, Federal Reserve Chairman Powell stated that the rate of improvement in artificial intelligence models is exponential. The United States may become the biggest winner in the field of artificial intelligence. This is not a zero-sum game. Currently, AI companies are investing in the future, with their expectations that the supply side will expand. The U.S. is not afraid of productivity-driven economic growth. We are still in the first or second set of this transformation. There is a significant question about the timing of the impact of artificial intelligence on employment.

Furthermore, Powell stated that effectiveness must be achieved in both employment and price stability. The labor market is stable, and economic demand is strong. Inflation expectations for the past four weeks have declined. Seeing prices too high. We will achieve price stability. There may be announcements next week regarding the appointment of heads of various working groups.

In recent weeks, both inflation expectations and inflation risks have decreased; at the same time, he reiterated that the Federal Reserve is committed to bringing the inflation rate down to the 2% target level. "In the first few weeks of this period, inflation expectations have fallen, and inflation risks have also decreased," Powell said. "If anyone in households, the business community, or the financial markets believes that the Fed is okay with inflation above its 2% target – they are mistaken: we will ensure price stability in the United States."