Fed's Goolsbee: AI success would be 'lovely,' but Fed would still need to watch for overheating
Austan Goolsbee, President and CEO of the Federal Reserve Bank of Chicago, speaks during the Milken Institute Global Conference 2026 in Beverly Hills, California, U.S., May, 6, 2026. REUTERS/Mike Blake
WASHINGTON, May 6 : Even if artificial intelligence is as transformative as advertised the U.S. Federal Reserve would still need to watch for rising inflation, Chicago Fed President Austan Goolsbee said on Wednesday.
"If it's as good as advertised, it would be lovely, wonderful, it will make us rich," Goolsbee said."But if that's still to come in the future, I do think we need to be a little more circumspect and on the lookout for overheating" if people start spending on the basis of anticipated wealth gains from productivity to come.
Source: Reuters
