Fink warns data center curbs could push US into recession
BlackRock chief Larry Fink says a pause on data center construction would tip the economy into recession. Chicago Fed President Austan Goolsbee argues AI is drawing resources away from other industries.
By Standard Topic. AI-generated from the reporting listed under Coverage. Published . Updated .
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What happened
BlackRock CEO Larry Fink said a moratorium of some sort on data center buildouts would put the U.S. into a recession. Chicago Federal Reserve President Austan Goolsbee argued that the AI boom is pulling resources from other traditional industries rather than simply adding to growth. Goolsbee also said the economy would not be in recession even without AI.
Why it matters
Fink says a single policy fight over data centers could drag the U.S. economy into recession. Goolsbee's view is that AI is cannibalizing resources from traditional industries.
Timeline
- Oct 15, 2:17 AM ET: BlackRock CEO Larry Fink said a moratorium on data center buildouts would put the U.S. into recession.
- Oct 15, 6:30 AM ET: Chicago Federal Reserve President Austan Goolsbee said the economy would not be in recession even without AI.
Coverage
- BlackRock CEO warns one move could sink U.S. economy (Yahoo News)
- Fed's Goolsbee: Even without AI, the economy would not be in recession (Yahoo News)
- BlackRock's Larry Fink names a U.S. recession trigger and its tied to AI (coindesk.com)
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