Federal Reserve Chair Jerome Powell has addressed the impact of artificial intelligence (AI) on job growth and economic expansion. He said that while the US economy is doing well, the effect of AI on employment remains uncertain. AI influence Powell acknowledges AI's impact on job market Powell acknowledged that the emergence of AI has already led to some short-term job losses. "You hear large companies saying...that they either won't be hiring for some time or that they're hiring less, or that they're laying people off," Powell said. The Fed Chair emphasized that while disruption is inevitable, technology ultimately boosts productivity, which leads to higher wages.