Fed Chairman Powell to convene the AI Inflation Forum on November 16
2026-11-15 02:53:47
According to CoinMeta, Federal Reserve Chairman Kevin Warsh will convene a public forum in San Francisco on November 16 to discuss the impact of artificial intelligence on inflation, productivity, and employment. Participants will include tech executives, economists, and employers. This forum does not result in interest rate decisions; the next monetary policy meeting is scheduled for December 9. Warsh believes that certain technologies can help companies reduce costs and alleviate inflation, thus there is no need to maintain high interest rates. A Federal Reserve governor warned in September that investments are driving up costs for electricity and chips, delaying the return of inflation to the 2% target. Another governor warned on November 12 that the rapid adoption of certain technologies by companies could cause serious short-term disruptions to employment. The interest rate path affects crypto assets; if lower inflation prompts the Federal Reserve to cut interest rates, risk assets such as Bitcoin would benefit. However, if spending keeps inflation high and interest rates remain high or are raised, it would put pressure on risk assets. Bitcoin fell below $69,000 on November 13. Additionally, data centers and Bitcoin mining compete for electricity, and a company in Michigan closed its mining facilities in September to accommodate new customers, with transactions potentially exceeding $1.2 billion. Warsh referred to this factor as a new variable in monetary policy in August.
Source:Internet
This content is for market information only and does not constitute investment advice.
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