[Powell: AI is a 'partial reason' for worsening U.S. unemployment rate] Federal Reserve Chairman Powell stated at a press conference that AI is a 'partial reason' for the worsening unemployment rate, which is also one of the contexts behind the Fed's second interest rate cut within two months. Powell added that AI is not currently the main reason, but the current AI wave may have a worse impact on the workforce than the technological revolutions of the past 200 years. Powell believes the era of generative AI may differ from the past, and if that is indeed the case, the Federal Reserve does not have sufficient tools to address the related societal and labor market impacts.