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.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50