jerome powell wynter capital hill many good news for hill bearing many good news for senators the hill bearing many good news for senators as: 573—1“; ,, 77 ,, ,, hill bearing many good news for senators as he'i”; ,, _ 77 ,, ,, hill bearing many good news for senators as he said 5; w - w w w hill bearing many good news for senators as he said the , w w w economy is strong with overall economy is strong with unemployment at and unemployment at 4% and inflation far off the highs of if 2022. however, if legislators were looking for a signal that the federal reserve will be to cut rates able to cut interest rates soon, mr powell,,,, to at pains to temper such our policy m 77 than 5 77 than it w than it had w z than it had in restricted than it had been, in the economy strong, the economy remaining strong, we do not to be in hurry 7 ad'ust our adjust our policy 5 adjust our policy we to adjust our policy stands. we �*that reducing policy to adjust our policy stands. we �*th too iducing policy to adjust our policy stands. we �*th too fast ng policy to adjust our policy stands. we �*th too fast or policy to adjust our policy stands. we �*th too fast or too cy to adjust our policy stands. we �*th too fast or too much restrain too fast or too much could hinder progress on at the same time, policy restrain reducing policy restrain too slowly or too little could unduly economic activity

and empleyrnentsln sensidering extent wand empleyrnentsln sensidering extent timing of the extent and timing of additional to the éddttifi“élédjéit~“e“�*5 ts the the will addrhsflalasjsstvs“; ts ths the will the target range, the will the seas of the balance of risks. fine site"b'k” ' "' fascist 517; of data that mr faggngtn’poweu piece of data that mr powell and his will be able and his committee will be able to see soon as the which is cansbmsr�*prise index, which is the markets ccnsbmsr�*price index, which is the markets open on our before the markets open on wednesday. it is forecast that they are not hard to the as "t hsd ts 3l"! rates thet! s's h�*t hard t“ ctrt rates headline thet! s's h�*t hard t“ ctrt rates at headline thet! s's h�*t hard t“ ctrt rates at 2.9%. line the 33 h“ h33 t�* “at rates at 2.9%. that's the 33 h�*t h33 t�* “at lot rates at 2.9%. that's the 33 h�*t h33 t�* “at lot better as at 2.9%. that's the 33 h�*t h33 t�* “at lot better than 2.9%. that's the 33 h�*t h33 t�* “at lot better than it.9%. that's the 33 h�*t h33 t�* “at lot better than it was that's the 33 h�*t h33 t�* “at lot better than it was a hat�*s a lot better than it was a few years ago still, higher . hes 3 j heéand % hefand likely? j heéand likely president would 5 would like. back at donald trump's latest announcement of 25% tariffs on all global steel and alumimium imports countermeasures." a strong response if necessary. for more on the implications of these new us tariffs, let's cross to san francisco and speak to former us lavin.

to be able to get perspective on this today, with the promise �*retaliation from the promise of retaliation from your europe and canada as well, what is the thing that we to understand about need to understand about president to put tariffs - place? well, these tariffs into place? well, it's a rapid — it's a rapid deterioration in trade into what trade relations into what previously been generally viewed as a positive and productive between europe and "was? ”77”;th "was? ”mb’dti "113323: zlflibdtilthink ’ w the united states but i think europe has no choice to europe has no choice but to respond, i think this was entirely and as a entirely predictable and as a we will negative result, we will have negative pressure on both the economy is that it will push the that it will pdsh ths tifs'. "’ and that it will pcish ths tifs'. "’ and the that it will pdsh ths tifs'. "’ and the us hard on this? i think he en'oys the theatrics i hard on this? i think he en'oys the theatrics and is i hard on this? i think he en'oys the theatrics and is pretty h ths theatrics and isprsttg’”” at the three tricks, he's good at the three tricks, he's not always at substance

behind the theatrics but his good at stagecraft and think good atstagectaftand! think. enjoys success s... as. iiwiltir; s. as..- wwithcanada arguably with canada and mexico, much smaller economies are much smaller symmetrical are mash smaller symmetrical the us, relationship with the us, europe a considerably larger 331333 is 3 emfidsa's's tafasf and 331333 is 3 emfidsa�*a's tafasf and much esrsss is 3 efifisdsa's's i3fasr' and much better scans-“w. and “flat“ betts to ecfiflfi�*fif and “flat“ betts to push back. ssonsmg a..- 3 a".-. - to push back. segment; 33.. ...33.. 33333. to ush back. ., ., pssitisn ts ptish bask; think europe pssitisn ts pssh basis think europe will what ou think ha- -en then? and what you think happen then? i think the to look i think the key element to look for is europe going to respond escalating, is it going to it's 1 7 it77s777going it's going to 7 7777it'7sgoing to be 7 it'7sgoing to be the 7 �* because is not latter because europe is not trying to put on the but it doesn't want to fire but it doesn't want to be % pastored so it funatsa $3 fiasffifisfisfifisf 33 't to film??? 35: fiésffifisfléiflfif 33 'f. to of a film??? 5 fiésffifisfléiflfif 33 'f. to of a back to film??? 5 555ffifi5�*35�*ffi55 55— 'f. to of a back to donald is to of a shove back to donald trump. is to of a shove back to donald trum -. is to of a shove back to donald trum . _ ,, ., ., is to of a shove back to donald trum -. ., , is to of a shove back to donald trum. ., , ., ', ire-15323 33333 33. 33. to kick 13153233 33333 33. 33. to kick in 13153233 33333 -3. 3. to kick in with a 13153233 33333 33. 333 to kick in with a deadline are to kick in with a deadline 12th of march, a �*time for give a lot of time for steelmakers and aluminium oi’ or adjust producers to change or adjust to do things. producers to change or ad'ust to - do thingsfi are industries are capitol and �* offensive sensitive and labor offensive so you're not likely to see

what trump is what donald trump is some kind of postulating, some kind of ofjobs back to the relssatisnrstisbs basis. ts the this can relssatisnrstisbs basis ts the this can take months or us or this can take months er and some us or this can take months or and some of these us or this can take months or ant items of these us or this can take months or ant items we :hese us or this can take months or ant items we get e us or this can take months or ant items we get from us or this can take months or a are ems we get from us or this can take months or a are speciality ft from us or this can take months or a are speciality alloys| europe are speciality alloys and it takes several years to put that together and at any i would point out the us event, i would point out the us is more or at full is more or less at full employment it was not much iii— with the labor 7 with the labor market capacity with the labor market to absorb the extra in any .t30..a.b.sorb the extra workitlanw .t30..a.b.sorb the extra workitlan i think the asian fi toflabsorb the extra work3'lrlany think the asian market 3...t.).e333.33. ..3 . bel7oo7ki7n7g7777 77 7 7 7 77 be looki7n7g7at7 7 7 77 be looki7n7g7at7how 7 77 ”be looki7n7g7at7how trappers will be looking at how trappers carrying out tariffs, carrying out his tariffs, friends antt3 to add the friends and allies to add the series as well?— series as well? well, i do think that — series as well? well, i do think that there _ series as well? well, i do think that there are - series as well? well, i do thinkl respect e are some series as well? well, i do thinkl respect to re some series as well? well, i do thinkl respect to private t -33..... 3&3 -. -33-. 77o7f77a7sia 7777 77o7f77a7sia for trump respect of asia for trump pushing about china, i pushing back about china, i think china is more broadly ifiifiji. qfiifié i5 $555 effiéfilfi e535 and not play ifiifiji. qfiifié i5 $555 effiéfilg e535 and not play by as predatory and not play by trade unions as international trade unions as opposed europe which does have those so i on one level, 7here on one level, there is a think on one level, there is a constituents in asia 77777777 is7a7pplauding is applauding what doing even if 77

doing even if they think 7—7 too77broad 7 too77broad or 7 too77broad or targeting it's too broad or targeting innocent parties if you will as well as guilty _ well as guilty parties to your staying with the impact of these latest us tariffs become more expensive. impact on coke�*s multibillion—dollar us business. us vice presidentjd vance explained why. now we n ow we fa ce now we face extra ordinary prospect of new

ordinary prospect of a new industrial revolution, one on par with the of the par with the invention of the for best steal. steam engine for best steal. but it will never come to pass if overregulation deters from the innovators from taking the are necessary to advance risks are necessary to advance the ball. nor will it �* if the ball. nor will it occur if we allow ai the ball. nor will it occur if we allow al to we allow a! to become'dorninated players looking to by massive players looking to use tech to or use the tech to censor or control thoughts. use the tech to censor or control. thoughts. -e what this move7 by the us and on what this move by tbe3lls and means for on what this move bytbe3lls and means for our for al regulation, i'm joined by mark brakel from the future he joins us live from munich. for your time today, let's get your quick reaction to what the uk and have by not uk and us have done by not on so many other have. countries have. clearly, this is the missed _ countries have. clearly, this is the missed opportunity i countries have. clearly, this| is the missed opportunity for international governance of 3 3 3 3 3 intelligence artificial intelligence suffered here in paris where china and the united states meet together to this meet together to discuss this technology so that important technology so that failing to agree is a missed

opportunity. last month, the lea7ding ai scientist world's leading ai scientist came up with report came up with. a repsrtstati'ng' """”' "” amongst things, we that amongst other things, we still have no credible to still have no credible plan to can — that smarter than can - insure that smarter than 33 33 33 al can — insure that smarter thah— ..3 —— — .3. ai remain human ai systems remain controllable and i think the uk particular one they inzparticular one they declared �*non— signature, said their non— signature, they said that the draft declaration did not sufficient practical not offer sufficient practical measures �* governance and not offer sufficient practical measures �*governance and i 7 -_i7 think it's good to see that at least eeshtee " aware least some countries'are aware the trade—offs. least somecountriesare aware the trade-offs. of the trade-offs. when it comes to _ in l of the trade-offs. when it | comes to _ in al, of the trade-offs. when it - comes to _ in al, that comes to governance in al, that is the big question that what does it mean than remains what sses it mean than us remains what sses it msah than us is remains what 3333 it m3ah than us is not remains what 3333 it mean than us is not signing up, that the us is not signing up, given that is the way with al? i think clearly it's a - opportunity - with al? i think clearly it's a - opportunity that - with al? i think clearly it's a - opportunity that the j with al? i think clearly it's a i - opportunity that the us not signing listening to advanced 7 7 advanc7edspeech, made a point about needing he made a point about needing which i think was to deregulate which i think was to deregulate which i think was to be expected but i think he also signalled that they would ram -ath for the us and

to 3:33 potentially china to agree on potentially more narrow and around extreme declaration around extreme risks which is something that e .e 7 7th; 7 7 tshtf 7 7 7th; 7 7 attach managed slightly better. mwawnagwed slightly better. promised to cut some red has promised to cut some red tafe when it comes to ai, they to 7 to the 7 can stymie that regulation can stymie great in the region — in this area? i great in the region - in this area? ~ , ., , m tarot 77 7 ted rot that 7 7 777r22t7rtt7r7t7t7h5t 7 77h7ol7d7ing isn't red tafe that is holding the union back, two tth european union back. two ago, was no major re-ulation in regulation in place digital regulation—inrplace and that you use still that you use ecosystem wasn't doing well, i think wasn't doing very well, i think sho