Fed's Daly Says Contacts Say AI Is Reducing Costs; It Can Be A Deflationary Force
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve's Daly mentioned that contacts have indicated AI is reducing costs and could act as a deflationary force.
June 24, 2024 | 7:02 pm
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The Federal Reserve's Daly noted that AI is reducing costs and could be a deflationary force, which may impact the broader market.
AI's cost-reducing and deflationary potential could positively impact the broader market, which is represented by SPY. Lower costs can lead to higher profit margins for companies, potentially boosting stock prices.
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