Federal Reserve Chair Kevin Warsh warned at the Jackson Hole symposium on August 28 that artificial intelligence is progressing faster than even the most optimistic forecasters predicted, calling this moment a « hinge point in history. » Business capital expenditure growth reached approximately 9% over the trailing four quarters, with more than half directed toward AI infrastructure. Token sales for leading AI labs reportedly exceeded $100 billion, representing a 500% increase year-over-year. The central bank referenced AI at least 18 times in recent FOMC minutes and established a dedicated task force in early 2026 to assess how AI is reshaping the US labor market and economic output potential.
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