Fed Chair Warsh: Rates Are Affecting Tech, Including AI Investment

Warsh's admission that he had doubted rates would reach AI investment is the notable part: it signals the Fed chair now treats the AI capex cycle as rate-sensitive, which ties monetary policy directly to the technology trade rather than to tech as a bystander. That matters for anyone funding or building AI infrastructure, since the cost of capital becomes a variable in project economics. The tension worth watching is that capex is described as strong and broadening even as rate effects are visible — whether that resilience holds as policy stays restrictive is the open question.