Questions the optimistic GDP growth outlook for next year, asking if it's driven by an early bet on AI or improved productivity.
Speaker1
Jerome Powell
Attributes the growth forecast to resilient consumer spending and AI spending on data centers holding up business investment.
Jerome Powell
Confirms baseline expectation for next year is a pickup in growth from 1.7% to 2.3% (adjusted to 1.9% and 2.1% accounting for shutdown effects).