• Apr 22, 2025

AI economic gains likely to outweigh emissions cost, says IMF

An IMF report released at its annual spring meeting in Washington nonetheless noted that those output gains would not be shared equally across the world, and called on policymakers and businesses to minimise costs to broader society. "Despite challenges related to higher electricity prices and greenhouse gas emissions, the gains to global GDP from AI are likely to outweigh the cost of the additional emissions," it said. "The social cost of these extra emissions is minor compared with the expected economic gains from AI, yet it still adds to the worrisome buildup of emissions," it said in the report titled "Power Hungry: How AI Will Drive Energy Demand".

  • Apr 22, 2025

Fed's Harker says US poverty levels may be understated

Federal Reserve Bank of Philadelphia President Patrick Harker said on Tuesday the true level of poverty in the United States might be understated, in comments that did not address the monetary policy and economic outlook. The way we have historically measured economic stability of low-income households may no longer work,” Harker said in an essay on economic mobility issues. He said a family earning twice the federal poverty line metric may still face big economic challenges.