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AI may be slowing job growth for young grads, Fed Chair Powell says, as automation concerns grow.
Federal Reserve Chair Jerome Powell acknowledged that AI may be contributing to weak job growth, particularly for young graduates, citing a decline in hiring and a Stanford study showing reduced employment in AI-exposed fields.
While he stopped short of calling AI the primary cause of labor market challenges, he noted its potential role in companies favoring automation over human hires.
The Fed’s recent rate cut reflects concerns over a sluggish labor market, with Powell emphasizing the need for policy and education systems to adapt as automation rises.
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La IA puede estar ralentizando el crecimiento del empleo para los jóvenes graduados, dice el presidente de la Fed Powell, a medida que crecen las preocupaciones por la automatización.