Powell: There will be no situation requiring interest rate cuts in the short term

According to Jinshi, Federal Reserve Chairman Powell stated that generative artificial intelligence tools will have a positive impact on productivity in the coming years, but their impact on inflation needs to be assessed with caution. He pointed out that the current boom in AI data center construction in the United States is driving up the prices of many goods and services, which may contribute to higher inflation levels to some extent. Powell emphasized that there will not be a situation in the short term that requires an immediate interest rate cut.