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Federal Reserve Vice Chair Jefferson Discusses Mixed Productivity Gains from AI Adoption

Federal Reserve Vice Chair Jefferson Discusses Mixed Productivity Gains from AI Adoption

Federal Reserve Vice Chair Jefferson recently addressed the impact of Artificial Intelligence (AI) on the U.S. economy, noting that while AI adoption is rising among firms and workers, its effect on broader productivity remains mixed. Surveys indicate that 40% to 50% of working adults are using AI in their jobs, though only a modest fraction uses it daily. The adoption rate varies significantly across industries, with about 25% of all U.S. firms using AI in at least one business function as of mid-2026. This figure rises to around 40% in knowledge-intensive sectors like professional services and information, but drops to about 10% in mining and leisure and hospitality. Jefferson highlighted that while some studies show positive associations between productivity growth and AI adoption at the firm level, others indicate only modest effects, with one study estimating a mere 0.5% boost in sales per employee over the past three years. This disconnect is attributed to firms still experimenting and learning, ofte...
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US Federal Reserve Vice Chair Philip N Jefferson Emphasizes Inflation as Key Driver for Future Interest Rate Decisions

US Federal Reserve Vice Chair Philip N Jefferson Emphasizes Inflation as Key Driver for Future Interest Rate Decisions

US Federal Reserve Vice Chair Philip N Jefferson Emphasizes Inflation as Key Driver for Future Interest Rate Decisions
ReutersReuters
Fed's Jefferson says he is taking his policy cues from inflation

Fed's Jefferson says he is taking his policy cues from inflation

Nov 13 (Reuters) - Federal Reserve Vice Chair Philip Jefferson said on Friday that, with the economy growing and the labor market stabilized, he is taking his policy cues from inflation, a remark that suggests he may support further interest-rate hikes to bring it under control.
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Federal Reserve Announces Revised Tentative Schedule for 2027 FOMC Meetings

Federal Reserve Announces Revised Tentative Schedule for 2027 FOMC Meetings

The Federal Reserve announced a revised tentative schedule for the Federal Open Market Committee (FOMC) meetings in 2027. The FOMC is responsible for discussing and setting monetary policy for the United States. The committee plans to convene on specific dates throughout the year, with policy decisions typically announced on the second day of each meeting. A notable exception in the 2027 schedule is the October 26-27 meeting, which will be exclusively dedicated to discussing broad monetary policy strategy issues rather than announcing a policy decision. The revised schedule outlines eight regular meetings for the year, beginning in January and concluding in November, with an additional meeting scheduled for January 2028. These meetings are crucial for assessing economic conditions, inflation, employment, and making decisions that influence interest rates and the overall financial landscape of the U.S. economy.
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Bank of America Forecasts Multiple Federal Reserve Rate Hikes Through Early 2027

Bank of America Forecasts Multiple Federal Reserve Rate Hikes Through Early 2027

Bank of America Forecasts Multiple Federal Reserve Rate Hikes Through Early 2027
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Conflicting Economic Indicators Raise Questions About U.S. Recession Risk

Conflicting Economic Indicators Raise Questions About U.S. Recession Risk

Conflicting Economic Indicators Raise Questions About U.S. Recession Risk
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US Treasury Bond Yields Surge Amid Persistent Inflation Concerns and Tighter Monetary Policy Expectations

US Treasury Bond Yields Surge Amid Persistent Inflation Concerns and Tighter Monetary Policy Expectations

US Treasury Bond Yields Surge Amid Persistent Inflation Concerns and Tighter Monetary Policy Expectations
ReutersReuters
Logan says Treasury market functioning 'very well,' Fed needs to strengthen support tools

Logan says Treasury market functioning 'very well,' Fed needs to strengthen support tools

Nov 13 (Reuters) - While the US Treasury market is functioning "very well" despite bouts of interest-rate volatility and banks have improved their access to contingent funding in the last three years, the Federal Reserve should take steps to strengthen its support tools in both arenas, Dallas Fed
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U.S. Growth and Labor Market Momentum Continue, Fed Expected to Hike Rates Again

U.S. Growth and Labor Market Momentum Continue, Fed Expected to Hike Rates Again

U.S. Growth and Labor Market Momentum Continue, Fed Expected to Hike Rates Again
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Chicago Federal Reserve President Austan Goolsbee Calls October Inflation Report 'Borderline Disturbing'

Chicago Federal Reserve President Austan Goolsbee Calls October Inflation Report 'Borderline Disturbing'

Chicago Federal Reserve President Austan Goolsbee described the October inflation data as 'borderline disturbing' and 'distressing.' The consumer price index (CPI) rose 0.4% on a seasonally adjusted basis in October, exceeding economists' predictions and marking the third consecutive month of higher-than-expected price increases. Goolsbee expressed concern that drivers of prices, such as tariffs, have not faded as hoped, and highlighted continuously high inflation in services as particularly troubling. He noted that lofty prices are a top concern for businesses, non-profits, and ordinary consumers alike. This report comes at a critical time for the Federal Reserve as it deliberates its next interest rate moves.
ReutersReuters
Fed's Williams says central bank has 'work to do' to get inflation back on target

Fed's Williams says central bank has 'work to do' to get inflation back on target

By Michael S. Derby NEW YORK, Nov 12 (Reuters) - Federal Reserve Bank of New York President John Williams said on Thursday that more interest rate increases are likely as the US central bank seeks to lower high levels of inflation in an otherwise healthy economy.
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Robust Nominal GDP Drives Up Long-Term Interest Rates in U.S.

Robust Nominal GDP Drives Up Long-Term Interest Rates in U.S.

Robust Nominal GDP Drives Up Long-Term Interest Rates in U.S.