Fed Governor Cook Addresses AI's Economic Impact at Oakland Tech Week

Federal Reserve Governor Lisa Cook delivered a keynote address on artificial intelligence and its implications for the U.S. economy at Oakland Tech Week, an event cohosted by the Kapor Center in Oakland, California. The speech marked a notable instance of a sitting Fed policymaker engaging directly with the technology community on questions increasingly central to monetary and economic analysis.

Artificial intelligence has emerged as a subject of growing interest at the Federal Reserve as policymakers assess how rapid technological change may influence productivity, labor markets, inflation dynamics, and financial stability. Cook's appearance at a tech-focused forum underscores the Fed's effort to engage with stakeholders beyond traditional financial circles as AI's economic footprint continues to expand.

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The Kapor Center, which focuses on expanding access to technology and venture capital for underrepresented communities, provided a backdrop that signals awareness of equity dimensions tied to AI adoption. Economists and policymakers have debated whether productivity gains from AI will be broadly distributed or concentrated among a narrow segment of workers and firms.

While the full text of Cook's remarks was not detailed in the source material, Fed speeches on AI have generally explored both the opportunities the technology presents for economic growth and the risks it poses, including potential labor market disruption and the challenge of measuring AI-driven productivity gains in real time. Policymakers face the complex task of incorporating AI's uncertain trajectory into economic forecasts and interest rate decisions.

Continue reading at FRB: Speeches.