Fed must dig deep on AI impact to make right rate calls ahead, Daly says

Group 1 - The Federal Reserve needs to analyze data on artificial intelligence (AI) to determine its impact on productivity growth and economic expansion without triggering inflation or necessitating tighter monetary policy [1] - The Trump administration claims that AI is already enhancing productivity, with some economists suggesting that increased investment in AI could lead to a faster-growing economy similar to the 1990s tech boom [1] - Mary Daly noted that current macroeconomic studies show limited evidence of a significant AI effect on productivity growth, which may be due to the early stage of AI implementation in various industries [1] Group 2 - Daly emphasized that it might take more time for the economy-wide transformations from AI investments to materialize [1]