The Fed Is Wrong About AI and the Economy w/ PDS
In this episode of Milk Road Macro, we dive into the Fed’s next big move — and why most of the Board of Governors are flying blind on the biggest tech shift in a generation. Former Soros family office macro chief PDS joins to unpack how Trump’s trade and immigration policies are clouding the Fed’s view, why AI could be a major deflationary force, and how ignoring it may lead to policy missteps.
We break down what the FOMC is focused on (and what they’re missing), how AI is transforming the labor market in real time, and why the real risk might be not cutting rates fast enough.
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The skinny
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