Fed's Daly Said Fed Does Not Use AI As Part Of Its Policy Work; Said Fed's Work On AI Now Is To Understand How Others Are Using It, And Its Effect On The Economy
Portfolio Pulse from Benzinga Newsdesk
The Federal Reserve, represented by Daly, stated that it does not currently use AI in its policy work. Instead, the Fed is focusing on understanding how AI is being used by others and its potential impact on the economy.
October 21, 2024 | 11:25 pm
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The Federal Reserve's current stance on AI, as stated by Daly, indicates no immediate changes in policy due to AI. This suggests stability in the Fed's approach, which could maintain current market conditions.
The Fed's decision not to incorporate AI into its policy work suggests no immediate changes in monetary policy, which could mean stability for SPY. However, the Fed's interest in understanding AI's impact on the economy could influence future policy decisions.
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