a16z Co-founder Marc Andreessen Appointed as Co-chair of Federal Reserve AI Task Force

CoinFeed July 11 news, according to Cryptopolitan, a16z co-founder Marc Andreessen has been appointed by the Federal Reserve as co-chair of the Artificial Intelligence Task Force, which will study how AI changes productivity and employment. Andreessen co-leads the task force with Stanford economics professor Charles I. Jones and Microsoft Executive Vice President and Xbox CEO Asha Sharma. The task force operates independently and provides research and feedback to the FOMC but has no power to set interest rates. FOMC members are divided on the direction of AI's impact on inflation — some believe AI suppresses inflation by boosting productivity, while others think massive spending on chips, data centers, and electricity could push up inflation.