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Lisa Cook, a Federal Reserve governor, says AI is ‘not going to replace us’
Lisa Cook says every word counts, and artificial intelligence won’t be replacing central bankers anytime soon.
Cook, who joined the Board of Governors of the Federal Reserve System in May 2022 and was reappointed last September for a term ending in 2038, also addressed the economy more generally. Speaking from prepared remarks, she predicted that three- and six-month inflation figures would continue to move lower “on a bumpy path” resulting from consumer resistance to price increases. On the jobs side of the Fed’s dual mandate, Cook noted, the labor market has “largely returned to a better alignment between supply and demand,” despite an increase from 3.9% unemployment in April to 4% in May.
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