Fed's Cook Says Productivity Gains From AI Will Deliver Modest Disinflation In Next Few Years; Signs Of Broadening Pressure In Inflation Data; Those Gains Will Not Come In Time To Offset Broadening Inflation This Year; Says She Is Highly Attentive To A Scenario In Which AI Leads To At Least A Temporary Rise In Unemployment; Limited Evidence To Date That AI Is Changing Labor Market Structure; Fed Would Have Limited Tools To Help In Such A Case; Lowering Rates Could Fuel Inflation
https://www.federalreserve.gov/newsevents/speech/cook20260928a.htm
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Why It Matters
A Federal Reserve leader said AI will help bring down prices over time. But she's watching carefully because AI might hurt jobs, and the Fed has few ways to help if that happens.
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