Jerome Powell Chair of US Federal Reserve
In the short term, what’s happening is we’re building data centers everywhere, and that’s actually putting pressure on all kinds of goods and services that go into building these things….So that’s actually probably pushing inflation up – Jerome Powell
‘His remarks might serve as vindication to the Americans feeling the squeeze from the data center boom. Goldman Sachs warned last month that consumer electricity prices could jump 6% from 2026 to 2027, driven in part by the strain data centers are placing on the power grid. Utilities requested a record $31 billion in rate increases in 2025—more than double the prior year—and lower-income households are bearing a disproportionate share of those costs.’
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