Fed's Daly: AI has a significant impact on monetary policy making in the short to medium term.

October 31 — San Francisco Fed President Daly said on Friday that artificial intelligence not only affects the long-term economic outlook but is also closely related to the Fed's medium- and short-term monetary policy making. Daly pointed out that the Fed needs to understand how technological progress affects U.S. economic growth, productivity, and the labor market in order to assess its dual-mandate goals such as inflation, price stability, and full employment.