{"id":219039,"date":"2026-03-02T08:31:00","date_gmt":"2026-03-02T13:31:00","guid":{"rendered":"https:\/\/news-you-need.com\/index.php\/2026\/03\/02\/90s-nostalgia-seizes-the-fed-and-white-house-as-warsh-and-trump-see-ai-as-an-internet-style-productivity-boom\/"},"modified":"2026-03-02T08:40:11","modified_gmt":"2026-03-02T13:40:11","slug":"90s-nostalgia-seizes-the-fed-and-white-house-as-warsh-and-trump-see-ai-as-an-internet-style-productivity-boom","status":"publish","type":"post","link":"https:\/\/news-you-need.com\/index.php\/2026\/03\/02\/90s-nostalgia-seizes-the-fed-and-white-house-as-warsh-and-trump-see-ai-as-an-internet-style-productivity-boom\/","title":{"rendered":"’90s nostalgia seizes the Fed and White House as Warsh and Trump see AI as an internet-style productivity boom"},"content":{"rendered":"

’90s nostalgia seizes the Fed and White House as Warsh and Trump see AI as an internet-style productivity boom<\/a><\/p>\n

https:\/\/fortune.com\/2026\/03\/02\/90s-nostalgia-federal-reserve-productivity-warsh-trump-bessent-ai-automation-internet-boom\/<\/a><\/p>\n

Publish Date: 2026-03-02 08:31:00<\/a><\/p>\n

Source Domain: fortune.com<\/a><\/p>\n

President Donald Trump, his Treasury secretary and his choice to lead the Federal Reserve believe they can coax the U.S. economy into partying like it\u2019s 1999.<\/p>\n

They are putting their faith in artificial intelligence to duplicate what happened when another technology arrived in the 1990s: the internet. Back then, the American economy surged as businesses became more productive, unemployment tumbled and inflation remained in check.<\/p>\n

Trump is confident that his nominee to become Fed chair,\u00a0Kevin Warsh, can unleash an even greater economic bonanza by jettisoning what the president sees as the central bank\u2019s hidebound reluctance to slash interest rates.<\/p>\n

Many economists are skeptical.<\/p>\n

The world looks a lot different today than it did when the Spice Girls ruled radio and \u201cTitanic\u2019\u2019 dominated the box office. And the story the Trump team is telling \u2014 that a visionary Fed chair, Alan Greenspan, fueled the \u201890s boom by keeping interest rates low \u2014 is incomplete at best.<\/p>\n

\u201cThe administration is offering a rather distorted version of what actually happened in the 1990s,\u2019\u2019 economist Dario Perkins of TS Lombard said in a commentary.<\/p>\n

Nonetheless, the Trump administration believes history can repeat itself. All that\u2019s been missing, in the president\u2019s view, is a Fed chair with Greenspan\u2019s foresightedness.<\/p>\n

AI\u2019s influence over interest rates<\/h4>\n

Trump has repeatedly attacked current Fed chief Jerome Powell, whose term as chair ends in May, for his reluctance to lower rates aggressively while inflation hovers above the central bank\u2019s 2% target. Treasury Secretary Scott Bessent said on social media in January that the president sought to replace Powell with someone with \u201can open, Greenspan-like mind.\u201d<\/p>\n

\u201cOur nation can see productivity boom like we did in the \u201990s when we are not encumbered by a Federal Reserve which throws the brakes on,\u201d Bessent said.<\/p>\n

On Jan. 30,\u00a0Trump said he was picking Warsh.<\/p>\n

In speeches and…<\/p>\n

Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

’90s nostalgia seizes the Fed and White House as Warsh and Trump see AI as…<\/p>\n","protected":false},"author":1,"featured_media":219040,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/fortune.com\/img-assets\/wp-content\/uploads\/2026\/03\/AP26057862823882-e1772458197532.jpg?resize=1200,600","fifu_image_alt":"","footnotes":""},"categories":[14],"tags":[],"class_list":["post-219039","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-artificial-intelligence"],"_links":{"self":[{"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts\/219039"}],"collection":[{"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/comments?post=219039"}],"version-history":[{"count":1,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts\/219039\/revisions"}],"predecessor-version":[{"id":219041,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts\/219039\/revisions\/219041"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/media\/219040"}],"wp:attachment":[{"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/media?parent=219039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/categories?post=219039"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/tags?post=219039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}