🚨NOW: FED Chair Kevin Warsh warns of a “VERY BUMPY” AI transition with major implications for the economy. “The advent of this new technology is probably the most consequential change to the U.S. and the global economy in my lifetime.” Warsh expressed optimism about AI’s potential while stressing the challenges ahead: “I want you to hear from me optimism, but optimism leavened by the seriousness of purpose.” “The path from where we are to there is likely to be a very bumpy one, bumpy in our understanding of the technology, bumpy because we really don’t know what the market structure is going to be of these new technologies.”