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Brett Arends's ROI

The Federal Reserve chair’s argument is based on inaccurate — and dangerous — Wall Street conventional wisdom

Photo: Getty Images

My apologies to Jerome Powell, but on Wednesday, the chairman of the Federal Reserve was talking out of his hat.

The subject wasn’t inflation, or interest rates, or the president’s attempts to fire him, but the current stock-market mania over artificial intelligence. This is so obviously a market mania that I honestly don’t know how anyone on the Street of Shame can say otherwise and keep a straight face. (But that, I guess, is why they get paid the big bucks.)

Brett Arends is an award-winning financial writer with many years experience writing about markets, economics and personal finance. He has received an individual award from the Society of American Business Editors and Writers for his financial writing, and was part of the Boston Herald team that won two others. He has worked as an analyst at McKinsey Co., and is a Chartered Financial Consultant. His latest book, "Storm Proof Your Money", was published by John Wiley Co.