Federal Reserve Governor Supports Recent Rate Cut Amid Economic Adjustments

According to BlockBeats, on September 27, Federal Reserve Governor Cook expressed her wholehearted support for the Fed's recent decision to cut interest rates by 50 basis points. In her prepared remarks at Ohio State University on Wednesday, Cook cited a slowing labor market and easing inflation as key reasons for the rate cut. She emphasized that this decision reflects the Fed's growing confidence in maintaining a robust labor market while achieving moderate economic growth and sustainable inflation reduction through appropriate policy adjustments. Cook's speech also focused on the implications of artificial intelligence (AI) for American workers. She highlighted that AI has the potential to significantly and sustainably boost labor productivity. While acknowledging that AI might lead to job displacement, Cook also pointed out that it could create new job opportunities.