B · Normal
["Wolf of Wall Street": Raising interest rates in the AI era is a mistake] September 28th, billionaire investor Bill Ackman, known as the "Wolf of Wall Street", recently stated that in the era of artificial intelligence (AI), tightening monetary policy may prove to be a mistake. Ackman posted on social media platform He believes that the principle of raising interest rates to reduce inflation by suppressing demand may no longer apply.
"What if the old model doesn't apply to the current situation and the Fed is wrong? I think the Fed may just be making a mistake," he added. Ackman believes that while higher interest rates would dampen demand in normal times, that may not necessarily be the case in the age of artificial intelligence.
He writes: “What if higher interest rates don’t reduce demand and investment because the demand for intelligence and energy is unaffected by higher interest rates, because the return on investment from winning the superintelligence race is nearly infinite, and because the demand for computing will be immeasurable, what if?”
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