New York

ON 1 JUNE, ACCORDING TO BLOOMBERG, AT THE ANNUAL CONFERENCE ON ECONOMICS IN REYKJAVIK, ICELAND, FEDERAL RESERVE CHAIRMAN JOHN WILLIAMS OF NEW YORK GAVE A CLEAR RESPONSE TO AI'S CONCERNS ABOUT EMPLOYMENT SHOCKS, BECOMING THE MOST OPTIMISTIC FED OFFICIAL IN THE MEETING. WILLIAMS STARTED WITH A "MACROLOGIST'S NEEDS ARE STILL STRONG" LAUGHTER, AND THEN SET OUT HIS CORE JUDGMENT: AI'S PRODUCTIVITY GAINS DO NOT LEAD TO LONG-TERM STRUCTURAL UNEMPLOYMENT. HISTORY HAS TAUGHT US THAT PRODUCTIVITY CAN RISE AND LIVING STANDARDS CAN RISE, WITHOUT CREATING STRUCTURAL UNEMPLOYMENT. I DON'T BELIEVE WE'LL FACE..