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Fed's Barkin: Fed can't solve AI volatility
Federal Reserve Bank of Richmond President Thomas Barkin addressed the impact of artificial intelligence on the labor market during a panel discussion on Wednesday. The banker stressed that the Fed's monetary policy cannot resolve AI-driven business volatility. Barkin cautioned against the immediate assumption that AI will lead to widespread worker displacement, going on to explain that technology would provide opportunities for workers to move to higher-skilled tasks.
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