Lisa Cook Warns on Fed's Ability to Counter AI-Driven Unemployment

Bloomberg
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Lisa Cook Warns on Fed's Ability to Counter AI-Driven Unemployment
Bloomberg
Written by Bloomberg
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Federal Reserve Governor Lisa Cook said the US central bank may not be able to counter rising unemployment driven by adoption of artificial intelligence. Cook warned, "our normal demand-side monetary policy may not be able to ameliorate an AI-caused unemployment spell without also increasing inflationary pressure," during comments Tuesday at an event in Washington.

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