According to CoinMeta, El Erian, chief advisor to Allianz, stated that Federal Reserve Chairman Kevin Warsh's first speech at Jackson Hole was clear and powerful, addressing the market's concerns regarding economic conditions, dual mandate risks, and inflation targets. Warsh explained that forward guidance has exceeded its scope of effect and warned about the risks of a "mirror maze," while also defining artificial intelligence as a new factor of production, and discussed the long-term structural issues facing economic and policy effectiveness.