"Federal Reserve Chair Jerome Powell Discusses China Evergrande, Rate Cuts, and Cybersecurity in 60 Minutes Interview"

Federal Reserve Chair Jerome Powell discussed the U.S. economy, cybersecurity threats, AI's impact, regulations to prevent bank failures like Silicon Valley Bank, and the collapse of China Evergrande. Powell expects a rate cut this year and emphasized the need for constant attention and funding to combat cyberattacks. He also highlighted the challenges facing China's economy and the potential impact of geopolitical risks on the global economy, while noting the positive role immigration played in stabilizing the U.S. labor market. Additionally, Powell discussed the Fed's research into the impact of artificial intelligence on the economy and its long-term effects.