Rob Kaplan on the Fed, AI, and How Globalization Is Happening Without the US

In this article, former Dallas Federal Reserve president Rob Kaplan discusses his views on various economic and technological topics. Kaplan believes that the Federal Reserve is unlikely to implement a 50-basis point interest rate cut, as it would signal a significant change in their policy stance. He argues that the US economy is still growing, albeit at a slower pace, and that the Fed should maintain a patient and data-dependent approach. Kaplan also addresses the impact of artificial intelligence (AI) on the job market, noting that it will likely lead to significant disruption and displacement. However, he believes that the benefits of AI, such as increased productivity and efficiency, will outweigh the drawbacks. Regarding globalization, Kaplan states that it is still occurring, even without the active participation of the United States. He suggests that countries are finding ways to collaborate and trade without relying on the US as the central player, which could have long-term implications for the country's economic influence.