Will AI help the Fed conquer inflation? With Austan Goolsbee

About this episode

The episode discusses the potential impact of AI on inflation and the economy with Austan Goolsbee from the Chicago Federal Reserve.

Between the Iran war, high gas prices, and wobbly jobs numbers, central bankers have plenty to worry about. But some see a light on the horizon: artificial intelligence. AI could lead to abundant production and lower prices, allowing the Fed to lower interest rates, and boost the economy – or so the theory goes. But how will we know if AI is boosting productivity? And what happens if the AI advocates promising an economic transformation are wrong? Soumaya is joined by Austan Goolsbee, head of the Chicago Federal Reserve, to discuss these questions and more. Soumaya and Austan also analyse how Fed chair nominee, Kevin Warsh, might change the central bank; and how Austan feels about Jay Powell’s plans to stick around. The inaugural FT Weekend Festival in New York City is fast approaching, with a line-up featuring Paul Krugman, Martin Wolf, Gillian Tett, and plenty more. Join on Saturday, June 20, at Spring Studios or online. Register now and as a podcast listener, save 10% using our code FTPODCAST. Further reading: AI boom poised to be ‘massively disinflationary’, Northern Trust says US economy grows at 2% pace in first quarter as AI boom fuels investment    The real…

People in this episode

Host: Soumaya

Guest: Austan Goolsbee

Topics covered

• AI and inflation
• Federal Reserve
• economic transformation
• central banking
• productivity
• FT Weekend Festival

Keywords

• AI
• inflation
• Federal Reserve
• economic growth
• productivity
• interest rates
• central bankers
• Kevin Warsh
• Jay Powell

Sponsors

Financial Times

Mentioned in this episode

Organizations: Chicago Federal Reserve, FT Weekend Festival, Northern Trust, Financial Times

Places: New York City

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