In the US, Hassett does not expect market turmoil due to AI warnings
In the United States, White House National Economic Council Director Kevin Hassett said he does not expect market turmoil due to recent warnings from technology company executives about the risks of artificial intelligence. He said this in an interview with CNN, Anadolu Agency reports.
Hassett positively assessed an essay by Anthropic CEO Dario Amodei, calling it a “very substantive letter.” According to the official, it discusses the need to develop technologies prudently while requiring companies to prove the safety of their systems.
Oversight of AI development
The official supported Amodei’s call to place independent observers in companies during the training of AI models. Hassett compared such overseers to bank inspectors.
According to him, autonomous agents may pose a threat to cybersecurity. At the same time, he called the possibility that a malicious actor could gain access to AI more powerful than systems intended for protection a greater risk. Hassett also separately warned against the development of biological weapons abroad using such technologies.
More current news is available on the UA.News Telegram channel Telegram.
US President Donald Trump opposed slowing the development of the American artificial intelligence industry. He said that maintaining a technological advantage over China is important for US global leadership. Trump also acknowledged that authorities may impose restrictions on technological systems, but stressed the need to preserve the country’s advantage in AI.
Position on the Fed rate
Hassett also said that the Federal Reserve has no compelling reasons to raise interest rates, despite data showing annual inflation at 3.4% in August. According to him, rising oil prices due to hostilities in the Persian Gulf had previously increased annual figures, but the latest data, in his assessment, indicate an annualized inflation rate of about 1%.
He believes the Fed should leave policy unchanged ahead of the midterm elections in November, citing the need to protect the central bank’s independence. Hassett also said that the administration would support Fed Chair Kevin Warsh regardless of the outcome of the rate decision. The regulator’s next decision is scheduled for Wednesday, and the current base rate stands at 3.75%.
