The Job Market Is Worsening. AI Is ‘Part of the Story,’ Fed Chair Says

Is AI hurting American jobs? 

A bit, according to Federal Reserve Chair Jay Powell, whose comments Wednesday gave the AI fearmongers a good amount of material to work with.

In a press conference, Powell said AI was “part of the story” behind the worsening unemployment that prompted the Fed to lower interest rates for the second time in two months. 

But he was quick to also say it was “not a big part of the story yet and we don’t know if it will be.”