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House members press Powell on labor force risks: immigration enforcement and AI-driven job disruption
Summary
Members of the House Financial Services Committee pressed Federal Reserve Chair Jerome Powell about the effects of immigration enforcement and rapid AI adoption on the labor force and the Fed's ability to meet its dual mandate.
Several members raised questions about longer-run labor supply and structural risks to employment, focusing on recent immigration enforcement activity and the potential for artificial intelligence (AI) to displace jobs.
On immigration, several members warned that aggressive enforcement and removals could shrink labor-force growth and slow economic growth. Powell said immigration policy is not the Fed's to make; nevertheless…
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