Jerome Powell warns of the signs of artificial intelligence bubble

On Wednesday, they obtained a health verification from an unlikely source: the Federal Reserve Chairman.

Jerome Powell said that the United States sees “unusually large quantities of economic activity by building artificial intelligence,” a rare recognition from the central bank that the boom is not only large, but also tends towards the wealthy.

This defect extends beyond the market. Nearly 70 % of American economic growth It comes from Consumer spending, yet most families He lives Salary to the salary. This image was taken in the form of K.-shaped analysts: While many families were cut into the basics, the richer families continue to spend on travel, technology and luxury goods-and continue to do this in August. Currently, the inflation recovery depends greatly on this dynamic remaining in the fragile recession. It works well so that he does not do it, if it can be described as working at all.

“The spending) may be deviant towards high consumers,” Powell told reporters after the last policy meeting of the full moon. “There is a lot of anecdotal evidence that indicates this.”

This deviation has become increasingly clear in the market. Only seven companies – Microsoftand Nafidiaand appleand alphabetand Deadand AmazonAnd Timing – Now makeup More than 30 % From the value of the S & P 500. Maintaining their work investment is unabated, so that the growth of general jobs has slowed down to crawl. Goldman Sachs Estimates AI of nearly 7 % of the profit on an annual basis in Corporaate Capex this spring.

Comments confirm the expansion of interest in the Federal Reserve: that although GDP growth exceeds 1.5 %, the composition of this growth is not equal, unlike previous housing or manufacturing mutations.

Powell referred to “children who come out of the college and the youngest and minorities” Struggle To find jobs in the cold labor market today, even as archaeological families continue to spend freely and companies turn into advanced technologies.

The defect reflects what Powell described as a “low -employment environment for low employment,” as workers’ demobilization remains rare, but creating job opportunities slows down to crawl. This dynamic, in addition to the focus of economic gains in artificial intelligence and among the wealthy, risks deepening inequality, and the Federal Reserve’s attempt is held to balance the states of inflation and employment.

This separates the risks to expand the gap between Wall Street and the main street. While archaeological families are still spending freely, and the flow of technology flowers on billions of dollars in databases and chips, the revised job data shows that the economy added only 22,000 jobs in August, with unemployment to 4.3 %.

Powell suggested that the unusual “investment” “may maintain the highest growth in the line, but it does not do much to raise the wide labor market.

“The rate of finding the total job is very low,” he said. “If the layoffs start to rise, there will be a lot of employment.”

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