Fed's Daly Says New Technologies Often Reallocate Labor, With A 'Painful Gap' For Some Workers; No One Knows The Impact Of Generative AI On Labor And The Economy
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve's Daly discusses the impact of new technologies on labor, highlighting that they often reallocate labor and create a 'painful gap' for some workers. She also mentions the uncertainty surrounding the impact of generative AI on labor and the economy.
May 28, 2024 | 5:07 pm
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The Federal Reserve's Daly comments on the labor reallocation caused by new technologies and the uncertainty of generative AI's impact on the economy. This could lead to market volatility as investors assess the potential economic implications.
Daly's comments highlight potential economic uncertainties which could lead to market volatility. However, the direct impact on SPY is neutral as it depends on how investors interpret these uncertainties.
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