The Fed Just War-Gamed 3 AI Futures — One Ends With Mass Unemployment
When the Federal Reserve starts war-gaming artificial intelligence, pay attention. Not because central bankers are known for tech hot takes — but because when the people who control interest rates start modeling AI scenarios, the economic establishment has officially stopped treating this as hype. On February 17, Fed Governor Michael S. Barr stepped in front of the New York Association for Business Economics and delivered what might be the most important AI speech to come out of Washington this year. No vague platitudes about “responsible innovation.” Instead, three distinct futures for how AI reshapes work — and one of them should keep you up at night. ...