Federal Reserve official Austan Goolsbee said the latest Consumer Price Index data was encouraging, though he added that more data is still needed before drawing firmer conclusions. He also said the past two productivity readings were very disappointing, a point he said supported the decision to keep interest rates unchanged in July. Goolsbee added that if productivity continues to weaken, expectations tied to artificial intelligence would need to be reassessed. The remarks were reported by BlockBeats on Aug. 15.
Federal Reserve official Austan Goolsbee said the latest Consumer Price Index, or CPI, data was encouraging, but he added that more data is needed before making a judgment.
Goolsbee also said the two most recent productivity readings were very disappointing, which he said supported the decision to leave interest rates unchanged in July. He added that if productivity continues to decline, expectations around artificial intelligence, or AI, would need to be reviewed.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
