Federal Reserve to Hold AI Economic Impact Hearing on November 16

Federal Reserve Chairman Kevin Walsh announced that the Federal Reserve'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. Walsh revealed this during the IMF annual meeting in Bangkok, stating 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, Walsh 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 Federal Reserve by the end of the year. Walsh did not comment on monetary policy or the outlook for the U.S. economy.

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