'Powell: Rates not so important for AI data centers'

 Federal Reserve Chair Jerome Powell said he does not think that interest rates are playing an important role in the current wave of data center investment, emphasizing that "it's not about 25 basis points here or there."

In his presser following the Federal Open Market Committee's (FOMC) decision to lower the interest rate by 25 basis points on Wednesday, Powell noted that lower rates will still support demand and hiring, thus influencing every sector.

He singled out consumer spending as having a larger role than artificial intelligence in overall economic growth, but conceded that AI remains a key source of expansion.

https://breakingthenews.net/Article/Powell:-Rates-not-so-important-for-AI-data-centers/65076746