#robo #mira @Mira - Trust Layer of AI @Fabric Foundation
- Austan Goolsbee, a member of the American Federal Reserve, confirmed that the recent job data was disappointing, emphasizing that the latest report was "catastrophic" compared to market expectations, which places the American Federal Reserve in front of new challenges in assessing the economic path in the upcoming period.
The official at the U.S. Federal Reserve clarified that the data represents only one month; however, it does not reflect a positive picture of the labor market, adding that the continuation of these trends for several months could become a real concern for decision-makers within the U.S. Federal Reserve.
He pointed out that the state of economic uncertainty is one of the main reasons that pushed companies to reduce hiring or resort to layoffs, which makes the U.S. Federal Reserve closely monitor labor market developments and upcoming economic data before making any significant decisions.
Regarding inflation, the official confirmed that the U.S. Federal Reserve still hopes to achieve continuous progress in combating inflation in the upcoming period, but at the same time warned of the continued rise in service inflation, which remains a concern for monetary policymakers within the U.S. Federal Reserve.
He also pointed out that oil price shocks could push the economy towards a stagflation scenario, which is one of the worst scenarios that central banks can face, combining slow growth and high inflation at the same time.
He explained that the U.S. Federal Reserve prefers to gather as much data as possible before taking any new steps, especially in light of the contradictions witnessed in economic indicators recently.
Despite these challenges, the official did not rule out the possibility of resuming interest rate cuts by the end of the year if inflation continues to decline, asserting that all options remain on the table at every meeting held by the U.S. Federal Reserve to assess the economic trajectory.
Meanwhile, Goolsbee pointed out that the strength of consumer spending still represents one of the main drivers of growth in the U.S. economy, which gives the U.S. Federal Reserve some flexibility in managing monetary policy in the upcoming phase.
Statements from officials of the U.S. Federal Reserve reflect a state of cautious balance in U.S. monetary policy, as the U.S. Federal Reserve tries to deal with the slowdown in the labor market and inflation risks at the same time. These statements indicate that the decisions of the U.S. Federal Reserve in the coming months will largely depend on the path of inflation and energy prices, in addition to the performance of the labor market in the U.S. economy.
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Mira (MIRA) is a digital currency (token) encrypted under the "Mira Network," a decentralized network specialized in verifying artificial intelligence outputs and operates through a hybrid mechanism combining proof of work (PoW) and proof of stake (PoS). It aims to enhance trust in artificial intelligence and is used in Web3, DeFi, and NFTs applications.
What is the Fabric (ROBO) institution@Fabric Foundation and how does it work?
Fabric acts as the nervous system of the robotics industry. It solves the problem of isolation where different robot brands operate in closed loops, unable to communicate or interact with each other.
The ecosystem provides a standard layer where the mind of the robot (artificial intelligence) meets its body (hardware) with a secure wallet (blockchain). Using the Base network and with plans for native L1, Fabric allows robots to hold encrypted keys, sign contracts, and pay for their maintenance or shipping without human intervention.
