Barkin Reports No Widespread Job Losses Due to AI, and Inflation Above Expectations

Thomas Barkin, Federal Reserve official, said he sees no sign of widespread job losses due to AI, though the investment side of the economy is undoubtedly largely driven by the technology. He also noted that continued growth in these investments cannot be counted on forever, and said he is reluctant to predict the outcome of this month's meeting.

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Federal Reserve Chairman Thomas Barkin said he sees no sign of widespread job losses due to AI, although the investment side of the economy will undoubtedly be largely driven by the technology. He also pointed out that it is not possible to count on the continued growth of these investments forever, adding that he does not want to predict the outcome of the October meeting of the Federal Open Market Committee.

The Federal Reserve official emphasized that the consumer price index report was higher than he expected. According to Barkin, upcoming producer price index data will help shape his final view of the inflation outlook.