Amy Morris

Richmond Fed President Tom Barkin said if AI does disrupt business and the labor market, interest rate policy should not be used to counter it.

At an event in northern Virginia, Barkin says such disruption is part of the essence of capitalism.

He called it creative destruction, which he says has been happening for hundreds of years, and interest rate policy is not the answer.

Kansas City Fed President Jeff Schmid says AI may help the workforce.

As the population ages and fewer people enter the workforce, Schmid says AI could create higher productivity per person.

He spoke at his bank's Denver branch.

St.

Louis Fed President Alberto Masalem says the U.S.

central bank's benchmark interest rate is near neutral and well positioned to balance risks to employment and inflation.

St.

Louis Fed President Alberto Musalem spoke at an event in St.

Louis.

That's news when you want it with Bloomberg News Now.

I'm Amy Morris and this is Bloomberg.

News when you want it with Bloomberg News Now.

I'm Amy Morris.

It was a big beat for NVIDIA.

NVIDIA forecast revenue for the first quarter guidance beating the average analyst estimate.

CEO Jensen Wong saying that enterprise adoption of agents is skyrocketing and that customers are racing to invest in AI compute.

NVIDIA shares now up about 3% in after hours trading.