IMF Economist Vamvakidis: AI Market Pullback Will Hit Real Economy

The value here is the framing, not the forecast: an IMF economist treating AI asset valuations as a macro transmission channel rather than a sector story. That matters because it links crypto and AI-adjacent risk assets to the same valuation complex, so a repricing would not stay contained to tech equities. The absence of any timeframe or scale is itself the signal — this is a risk flag, not a call. Whether the IMF's institutional voice on AI spillovers hardens into formal financial-stability language is the open question.