Sen. Tim Scott wants to hear from Warsh on data centers and artificial intelligence
Tim Scott, R-S.C., will host Kevin Warsh before the Senate Banking Committee on Wednesday for his first time testifying as Fed chairman.
Tim Scott, R-S.C., will host Kevin Warsh before the Senate Banking Committee on Wednesday for his first time testifying as Fed chairman.
Senate Banking Committee Chair Tim Scott said Tuesday he wants to hear Federal Reserve Chairman Kevin Warsh speak about data centers and artificial intelligence .
Scott, R-S.C., will host Warsh before his committee on Wednesday for the first time as Fed chairman . He's appearing to deliver the semiannual monetary policy report to Congress. But Scott signaled he hopes the conversation will be broader when asked what he wants to hear during an appearance on CNBC's Squawk Box.
"The dual mandate of the Fed is really important: price stability employment, I also think we have to drill into the artificial intelligence conversation in South Carolina," Scott said. "The real question we should ask is how do we make sure that these data centers pay their own way as it relates to electricity and water use."
Scott noted that in South Carolina, some parties want to ban the data centers that are driving AI. Data center moratoriums are gaining ground across the country as voters recoil from increased utility bills.
"When you zoom out, the most important question is who wins the future? Is it China or is it America? Artificial intelligence will be that which threads that needle," he said. "I want to make sure that we are on the right side of history, and frankly we have to solve the problems at home so that we can win the issue as a country."
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