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Federal Reserve Governor Lisa Cook says rising investment in AI has pushed up prices for chips, hardware and software, but sees the pressure as concentrated in those sectors rather than across the wider economy.
Why it mattersIsrael Defense reports that Cook expects supply chains to adjust and efficiency to improve. She warned that using broad monetary policy to tackle a narrow price surge could be a mistake. That is a useful distinction for anyone trying to separate the AI boom’s infrastructure bill from economy-wide inflation.
Discuss: Should central banks look through sector-specific price spikes, or act before they spread?
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