🇺🇸FED: AI is now behind BOTH of the Fed's BIG WORRIES!
Richmond Fed's Tom Barkin says AI spending is adding to inflation now. But he warns it threatens jobs either way:
- If AI underdelivers, investment and stocks could fall
- If it overdelivers, it could displace more workers than expected.
Households are already NERVOUS.
The share expecting higher unemployment a year out is the highest since April 2020.