[Allianz Chief Advisor: Walsh's Jackson Hole Debut Clear and Powerful] Golden Finance reported on August 28 that Allianz Chief Advisor Mohamed El-Erian stated: 'In my view, this was a clear and powerful speech that met the market's high expectations for Walsh's first address at Jackson Hole as the Federal Reserve Chair, despite the unusually large divergence in market expectations prior to the speech. His remarks directly and effectively addressed the strong calls from some market participants and economists for him to articulate his views on the current economic situation, assess the risk balance facing the Fed's dual mandate, and reaffirm his commitment to the inflation target. These topics are likely to become the main focus of media coverage. However, critically, Chair Walsh also elaborated on why the practice of forward guidance has now "exceeded its scope," warned of the risks of a "hall of mirrors," and explored long-term structural issues facing the economy and policy effectiveness. Among these, he defined artificial intelligence as a "new factor of production" and noted that it opens up "a vast array of questions worth exploring." Although this second set of topics may not immediately garner significant media attention, it is undoubtedly the most interesting and impactful part of his speech.'