Job losses due to AI: US Fed gov Cook has important observation; says unemployment could rise in short-term
Federal Reserve Governor Lisa Cook warned that AI is causing a significant reorganization of work, potentially leading to higher unemployment and complicating the Fed's ability to cut interest rates. She noted that job displacement may precede creation, and traditional monetary policy might struggle to address AI-induced unemployment without fueling inflation.
Federal Reserve Governor Lisa Cook warned that AI is causing a significant reorganization of work, potentially leading to higher unemployment and complicating the Fed's ability to cut interest rates. She noted that job displacement may precede creation, and traditional monetary policy might struggle to address AI-induced unemployment without fueling inflation.
