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Cake day: August 13th, 2023

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  • I’ve had similar frustration with conversations that focus on how devastating AI will be, without much mention of who is responsible or how to hold them accountable. One person compared my take to “guns don’t kill people, people kill people.” I feel like responsibility has already been successfully deflected and we’ve barely gotten started. I don’t even know how to have that conversation at this point.





  • “By moderating demand, we could see vacancies come down, and as a result—and they could come down fairly significantly and I think put supply and demand at least closer together than they are, and that that would give us a chance to have lower—to get inflation—to get wages down and then get inflation down without having to slow the economy and have a recession and have unemployment rise materially. So there’s a path to that,”

    Jerome Powell, chairman of the US Federal Reserve, May 4th, 2022

    https://www.federalreserve.gov/mediacenter/files/FOMCpresconf20220504.pdf

    So minor correction on my part if we’re being very particular, and sometimes that’s important. ‘Get wages down’ could have different implications than ‘keep wages down’. Elsewhere, he mentions wage growth being a good thing, however it is (at the time of the press conference) growing much faster than their target inflation rate.