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Trump's Fed chair pick argues there's one key reason to lower interest rates. But is it a convincing one? [CNN]

Franklin Resources, Inc. (BEN) 
Last franklin resources, inc. earnings: 4/30 08:30 am Check Earnings Report
Company Research Source: CNN
AI is ushering in “the most productivity-enhancing wave of our lifetimes — past, present and future,” Warsh, who was nominated by President Donald Trump as Fed chair on January 30, said in an interview with fintech entrepreneur Sadi Khan. The technology could prove to be “structurally disinflationary” like the internet, Warsh said, suggesting the Fed may have a clear path to continue lowering rates. In recent years, US productivity has grown at a robust pace, according to Bureau of Labor Statistics data. In economics, if productivity is strong, then growth can run hot without stoking inflation — this means the Fed doesn't have to step in with interest rate hikes. It's unclear if that same logic can apply to rate cuts. If he's confirmed by the Senate to lead the central bank after Chair Jerome Powell's term ends in May, Warsh will preside over a 12-person rate-setting committee that has become starkly divided in recent months . Fed chairs are tasked with building consensus around Show less Read more
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