Warsh: Inflation risks have decreased somewhat.

Mars Finance News, on July 1, Federal Reserve Chair Waller said that the rate of change in how quickly AI models improve is exponential. The United States may become the biggest winner in artificial intelligence. This is not a zero-sum game. At present, AI companies are investing in the future, and their expectation is that the supply side will expand. The United States is not afraid of productivity-driven economic growth. We are still in the first or second inning of this transformation. There are major questions about when AI will affect employment.

In addition, Waller said that progress must be achieved in both employment and price stability. The labor market is stable, and economic demand is strong. Inflation expectations have declined over the past four weeks. Seeing prices as too high. We will achieve price stability. Next week, there may be news regarding the appointment of heads of various working groups.

In recent weeks, both inflation expectations and inflation risks have declined; at the same time, he reiterated that the Fed is committed to bringing the inflation rate down to its 2% target level. “In the first few weeks of this period, inflation expectations have eased and inflation risks have also declined,” Waller said. “If anyone in households, the business community, or financial markets thinks the Federal Reserve will be comfortable with an inflation target above 2%—then I’m afraid they’ll be disappointed: we will ensure that the United States achieves price stability.” (Jin Shi)