Fed Official Jokes: AI Won't Replace Economists (Yet)

The implications of artificial intelligence gripped global central bankers in Iceland this week, with one Federal Reserve official joking that it won't put economists out of business. The program of the conference that ended on Friday in Reykjavik didn't even mention the technology, but time and again, policymakers returned to musing about how it will affect labor markets, productivity, and inflation, for better and for worse.