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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

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05:27:45 PM UTC
SquawkNews
Fed’s Cook: Expects Continued Inflation Pressure In Coming Months, From AI And Middle East Conflict