Federal Reserve's Barkin said he does not view the current productivity gains as primarily reflecting the impact of AI.

A source familiar with the discussions said on Tuesday U.S. Treasury Secretary Bessent may be named President Trump's artificial intelligence (AI) czar. Washington lawmakers are increasingly concerned about AI risks, though Trump has repeatedly downplayed those concerns and argued against additional regulation. The Treasury Department did not immediately comment; a second source said no decision has been made. Trump said last Saturday he plans to appoint an AI czar and form an "AI force" but provided no details.

Turkey's central bank governor said supply shocks have materially affected headline inflation and services inflation remains persistent.