Federal Reserve Chair Waller Announces AI Economic Impact Hearing in November

Federal Reserve Chair Kevin Waller announced that the Fed's Productivity and Employment Special Working Group will hold a hearing on November 16 in the San Francisco Bay Area, focusing on the impact of artificial intelligence on the economy. Waller made this announcement during the IMF annual meeting in Bangkok, noting that the special working group will conduct an in-depth study of AI's effects on economic activity and the labor market. In June of this year, Waller established five special working groups composed of external experts to examine key areas in monetary policy formulation, and these groups are expected to submit policy recommendations to the Fed by the end of the year. Waller did not comment on monetary policy or the outlook for the U.S. economy.

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