Questions the disparity in consumer spending, where wealthier consumers drive the economy while many families struggle with cost of living, and asks about the Fed's internal discussion on this.
Christine Romans
Jerome Powell
Confirms higher-income households benefit from rising real estate and stock values, which supports their spending, while retailers report lower-income consumers are economizing, trading down, and buying less.
Asks if Powell is concerned AI will supplant entry-level jobs, given weak job creation last year, and how this factors into labor market monitoring.
Christine Romans
Jerome Powell
Acknowledges AI may eliminate some jobs in the short term, particularly affecting recent college grads, and that large companies cite AI when reducing hiring or laying off.