Fed's Williams (voter) says commercial real estate has improved more than expected, risks have declined
Importance
Level 1
AI
- AI will likely lift productivity, but the level of increase is hard to say.
- Tech like AI will take a long time to impact the economy.
- Employers are being cautious with new hires.
- Current job market softness is not AI-related.
MARKETS
- There has been a lot of market volatility as investors parse the info.
- Markets have functioned remarkably well.
- Good liquidity levels are good for financial stability and broader economy.
- Liquidity is better than expected given the uncertainty.
- Treasury market has been working extremely well.
CREDIT
- Private credit issues are not broader financial stability risks.