Fed's Kashkari does not see modest Fed hikes slowing hyperscaler investment significantly
NEW YORK, Sept 30 (Reuters) - Federal Reserve Bank of Minneapolis President Neel Kashkari said on Wednesday a modest spate of central bank rate hikes was not likely to slow tech sector investment a lot.
"What are…up to three 25 basis point hikes going to do to slow the hyperscalers? Not much," he told a gathering at the Council on Foreign Relations.
When it comes to rate hikes targeting tech investment, the official said, "I certainly don't feel like I am in a position to second-guess and say I know better that this is good investment or bad investment," adding he does not see artificial intelligence investment creating a systemic risk to the financial system.