Neal Kashkari, president of the Federal Reserve Bank of Minneapolis, has labeled cryptocurrencies as "basically useless" for ordinary people, citing a lack of practical application for the average consumer. Speaking at a virtual event, Kashkari contrasted this view with his positive outlook on artificial intelligence, which he believes holds practical value despite most companies still being in the testing phase. Kashkari also expressed optimism about the U.S. economic outlook, forecasting continued growth and favorable inflation trends, with signs of cooling housing prices. He dismissed the notion that the recent expansion of the Federal Reserve's balance sheet signifies a new round of quantitative easing, underscoring the importance of central bank independence. Additionally, he noted that the impact of tariffs has been less severe than anticipated, though their long-term effects remain uncertain.