Emerging-Market Stocks Gain About 1%; Warsh Discusses AI Demand

The MSCI Emerging Markets Index gained about 1% on Oct. 16, while Federal Reserve Chair Kevin Warsh separately said artificial intelligence (AI) investment is lifting demand ahead of longer-term productivity gains. Warsh spoke with International Monetary Fund (IMF) Managing Director Kristalina Georgieva at a fireside chat during the annual meetings in Bangkok. The session ran from 11:30 p.m. ET Oct. 15 to midnight ET Oct. 16 (3:30–4 a.m. UTC Oct. 16). He described AI as a “most consequential change” to the economy and said investment is boosting demand before the technology’s effects reach the supply side. The remarks paired a current demand effect with AI’s longer-term productivity potential. Warsh’s earlier comments on AI’s productivity potential addressed that longer-term outlook.

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