Fed Governor Lisa Cook Says AI Is Adding Near-Term Inflation Pressure Before Productivity Gains Arrive

Federal Reserve Governor Lisa D. Cook warned that artificial intelligence is adding near-term inflation pressure to the U.S. economy, even as she said the technology could eventually deliver productivity gains that ease prices. In remarks at Oakland Tech Week on September 28, Cook said AI investment is helping postpone inflation's return to the Fed's 2 percent target and that expected productivity benefits are unlikely to arrive soon enough to offset broader price pressures later this year.