See below for a press release from Rep. Suhas Subramanam (D-VA10), who asks in his new letter to the Chair of the Federal Reserve and the Chair of the Securities and Exchange Commission:
“I am calling for an investigation into the likelihood of an AI bubble and what the impact would be on our economy if the AI bubble were to burst. Please respond to the questions below by December 15, 2025:
1. What is the projected impact of any potential AI-related bubble on the United States economy, customer spending, and job losses?
2. In the event of an AI bubble, what do you expect would be the projected impact on the United States’ GDP growth?
3. What is the projected impact of an AI bubble on different critical sectors of the economy?
4. What are the potential impacts of an AI bubble on small businesses and their ability to recover as compared to the larger technology companies driving this bubble?
5. What policies, if any, are you considering to mitigate the worst impacts of a potential AI bubble?
6. How can the Federal government prepare for the negative ramifications of an AI bubble on the economy and employment rates?”
And remember, Sen. Mark Warner – who knows a TON about this topic – recently warned: 1) “where I think AI will have the most disruption in the short term, is the fact that particularly those elimination of those starter jobs coming out of college. Most of the large banks and and accounting firms and consulting firms have all told me they are literally cutting their internships and first year hires in half” and 2) “We already have 9% unemployment of recent college graduates. I think that number could go to 25% literally within the next year or so” “trust me, within the next year or so AI job dislocation is going to be one of the premier issues in our country.”
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Congressman Subramanyam Calls For Investigation to Assess and Prepare For Impacts Of An AI Bubble Burst On The Economy
Washington, D.C. – Congressman Suhas Subramanyam (VA-10), member of the House Science, Space, and Technology Committee, has sent a letter to the Chair of the Federal Reserve and the Chair of the Securities and Exchange Commission (SEC) pushing for an investigation into the existence of an “AI bubble” and its potential impact on the American economy.
Speculation of an “AI bubble” is emerging due to technology companies heavily invested in AI making up a large share of major public index funds. The bursting of this “AI bubble” could devastate public markets as well as the savings and retirement accounts of working families and seniors across the country. Many leaders of technology and AI companies like Sam Altman, CEO of Open AI, and Jeff Bezos, Executive Chairman and founder of Amazon, have claimed that an AI bubble does exist, furthering the need and urgency to investigate.
“AI has quickly become enmeshed in all parts of our society and economy. Major tech companies heavily invested in AI make up a large share of market value and much of the economy is now intertwined with their success,” said Congressman Suhas Subramanyam. “We have seen this many times before with companies considered ‘too big to fail.’ We need transparency into the AI bubble to better understand what’s going on and make sure we are prepared.”
View the full letter here.
