Neil Kashkari, Governor of the Federal Reserve Bank of Minneapolis, said he was skeptical about the view that “apart from the boom in artificial intelligence-related construction, the US economy is shrinking.” While attending an event hosted by the US Council on Foreign Relations in New York on Wednesday, Kashkari said, “I doubt that the rest of the economy is shrinking. If you look at corporate profits, you'll find that not only industries directly related to artificial intelligence infrastructure construction, but many industries in the economy have very strong profit performance.” The Minneapolis Federal Reserve Chairman pointed out that the current unemployment rate is 4.1%, and that “the nationwide layoff rate and number of unemployment benefit applicants are very low,” but he also acknowledged that the real estate industry is under pressure.

Neil Kashkari, Governor of the Federal Reserve Bank of Minneapolis, said he was skeptical about the view that “apart from the boom in artificial intelligence-related construction, the US economy is shrinking.” While attending an event hosted by the US Council on Foreign Relations in New York on Wednesday, Kashkari said, “I doubt that the rest of the economy is shrinking. If you look at corporate profits, you'll find that not only industries directly related to artificial intelligence infrastructure construction, but many industries in the economy have very strong profit performance.” The Minneapolis Federal Reserve Chairman pointed out that the current unemployment rate is 4.1%, and that “the nationwide layoff rate and number of unemployment benefit applicants are very low,” but he also acknowledged that the real estate industry is under pressure.