AI Could Aid Fed in Inflation Fight

Chicago Fed President Austan Goolsbee discussed the potential impact of artificial intelligence, specifically mentioning GPTs, on the Federal Reserve's efforts to manage inflation. He also touched upon the current interest rate outlook and the nomination of Kevin Warsh. The conversation suggests a forward-looking approach by the Fed, exploring how advanced technologies might offer new tools or insights into economic forecasting and policy-making. This signals a potential shift in how central banks might leverage technology to navigate complex economic challenges like persistent inflation.