Labor Department AI Push Echoes Call for Private Data

Dow Jones08-27 02:55

1455 ET - The Trump administration has made a deal with major tech firms to help track how AI is affecting jobs and hiring, according to an Axios report. Kevin Warsh has expressed interest in incorporating more private sector data into the Fed. One of Warsh's new task forces is focused on improving the timelines of economic signals to help Fed make decisions. "We're moving toward a framework where we're going to give more emphasis to the private collection of data, and I think that's a positively encouraging step," says Joe Brusuelas, chief economist at RSM. At Warsh's June press conference, he said "there will be a review of official statistics, and at least as important, a view of bringing the best practices from the private sector and new analytical tools made possible by AI."

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