The Atlanta Fed Pres. Bostic is speaking in a moderated question-and-answer session at Fisk University in Nashville. He says:
- AI is disrupting and has the potential to be quite challenging
- The Atlanta Fed is looking at ways to train workers who get displaced because of AI.
- This is the hardest time to do my job due to structural changes.
- All of the turbulence is causing people and businesses to be more cautious
So far the comments are more educational for the university audience.
- No one thinks catastrophe is on the horizon.
- However, always the possibility that disruptions can lead to entrenchment.
- Precautionary activity is taking place. This is a sign that there is stress for families.
Comments from Bostic did not focus on the economy or monetary policy.
