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Story summary
- Federal Reserve Governor Lisa Cook warned at the NABE Economic Policy Conference that artificial intelligence could displace workers, especially recent college graduates.
- She said AI may boost productivity but create challenges for monetary policy.
- Cook noted the neutral rate might be higher than pre-pandemic levels due to AI investments.
- Fed Governor Christopher Waller downplayed fears about AI's impact, calling them overstated.
- The labor market remains stable, with unemployment at 4.3%.
