Jefferson: Fed has enough data to make policy, but no question that official data is the gold standard

video Our stage is set for a high-profile meeting: between a member of the ECB Governing Council and a member of the US Federal Reserve System (Fed). At Euro20+, we extend a warm welcome to: Joachim Nagel. Since early 2022, he has been President of the Deutsche Bundesbank – and thus one of the most important voices in European monetary policy. Mr Nagel, ...

Thank you, President Nagel and the Bundesbank, for the opportunity to meet with you today.1 I am excited to be here. I cherish opportunities to talk with groups of young people such as this. I spent most of my career as a professor and university administrator. I am glad to return to those roots a bit today. I will make sure I leave plenty of time for questions. But I would like to start by speaking with you about a topic that's been on my mind, and I bet it has been on many of yours: artificial intelligence (AI). Often, when I gather with students, consumers, or businesspeople, the conversation quickly turns to AI. And it is easy to understand why—you do not even need to ask a chatbot! AI has the potential to transform how we work and how we live, and it could have a profound effect on the economy. Today, I will talk about AI's rapid growth and how I approach thinking about AI by examining it through the lens of the dual mandate given to the Federal Reserve by the U.S. Congress. That mandate instructs America's central bank to pursue maximum employment and price stability. I will describe the effects that AI may have on both sides of that mandate. Finally, I will briefly update you on my economic outlook before turning to your questions. FED VICE CHAIR JEFFERSON SAYS FED SHOULD PROCEED SLOWLY WITH FURTHER RATE CUTS AS POLICY APPROACHES NEUTRAL RATE JEFFERSON WILL DECIDE ON HIS VOTES MEETING BY MEETING, CITES POTENTIAL LACK OF GOVERNMENT DATA DUE TO SHUTDOWN JEFFERSON SAYS AVAILABLE INFORMATION SUGGESTS NOT MUCH…

The gold versus Bitcoin (BTC) debate has long divided investors seeking a store of value in uncertain times. Gold, with its millennia-old track record and physical scarcity, is often seen as the ultimate haven: a tangible hedge against inflation and geopolitical risk. Bitcoin, by contrast, represents a digital evolution of that concept: algorithmically ...