San Francisco Federal Reserve President Mary Daly said artificial intelligence is not only shaping the long-term economic outlook, but is also closely tied to how the Federal Reserve approaches monetary policy over the near and medium term. Daly said the central bank needs to understand how technological progress affects U.S. economic growth, productivity, and the labor market. That assessment, she said, is necessary for evaluating inflation, price stability, and maximum employment, which sit at the core of the Fed’s dual mandate. The remarks were cited by Odaily, which referenced Jin10 as the source.
San Francisco Federal Reserve President Mary Daly said artificial intelligence is affecting not just the long-term economic outlook, but also the Federal Reserve’s near- and medium-term monetary policy decisions.
Daly said the Fed needs to understand how technological progress influences U.S. economic growth, productivity, and the labor market in order to assess inflation, price stability, and maximum employment under its dual mandate.
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