Fed Chair Powell: It is possible that we will see higher energy prices

Inflation & Energy Prices - Relatively low gas prices have helped drive down inflation, but this trend is starting to reverse due to the Middle East crisis [1] - Turmoil in the Middle East may cause a spike in energy prices, but it tends to come down and not have lasting effects on inflation, unlike the 1970s [3] - The US economy is far less dependent on foreign oil than in the 1970s [4] Artificial Intelligence & Employment - The key question is whether AI will augment or replace labor, with AI potentially creating and replacing jobs simultaneously [5] - AI has transformational potential, and its capabilities are rapidly evolving [6] - There are differing views on AI's impact, with some believing it will increase productivity and others fearing significant job displacement across various income levels [7]