Powell: There will be no situation where interest rate cuts are needed in the short term

Comparative news, according to Kim's report, Federal Reserve Chairman Powell said that generative artificial intelligence tools will have a positive impact on productivity growth in the next few years, but their impact on inflation needs to be carefully assessed. He pointed out that the current boom in artificial intelligence data center construction in the US is driving up the prices of many goods and services, which may push up the level of inflation to a certain extent. Powell stressed that there will be no immediate interest rate cuts in the short term.