Fed's Daly says AI is not for now driving inflation up or down
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San Francisco Federal Reserve Bank President Mary Daly pauses as she speaks during an interview with Reuters at the Federal Reserve Bank building in San Francisco, California, U.S., April 9, 2026. REUTERS/Carlos Barria
June 4 (Reuters) - San Francisco Federal Reserve President Mary Daly on Thursday said that while she believes AI over a five- to 10-year window could be a deflationary force, the effect is "not a pressing issue" for monetary policy which operates on a 12-month horizon.
Daly, at a Bloomberg Tech event in San Francisco, also said she also does not think that AI is behind the current rise in inflation, which being driven by higher tariffs and, more recently, by higher energy and food prices since the start of Iran war.
(Reporting by Ann Saphir, Editing by Franklin Paul)
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