Fed governors extol AI’s ‘transformative’ potential
Waller sounds bullish note on technology, though Cook caveats optimism by warning of impact on jobs
Optimism about artificial intelligence cuts across ideological lines at the Federal Reserve, with both Lisa Cook and Christopher Waller using speeches on February 24 to extol the promise of large language models.
“We appear to be approaching the most significant reorganisation of work in generations,” said Cook, who was appointed by former president Joe Biden and remains involved in a legal battle with his successor, Donald Trump, to keep her job on the Fed board.
Despite being “appropriately
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