Fed’s Waller Says No Doubt AI Will Boost GDP, National Income

Federal Reserve Governor Christopher Waller said he’s hopeful artificial intelligence will drive the kind of sustained productivity boost that lifts living standards without triggering inflation.

In a speech Wednesday, Waller said he has “no doubt” AI will boost the US economy. The crucial question facing policymakers is whether AI contributes to a productivity resurgence.

WATCH: Federal Reserve Governor Christopher Waller says he’s hopeful artificial intelligence will drive productivity growth without triggering inflation.

Source: Bloomberg

Christopher Waller

Photographer: Samuel Corum/Bloomberg

“Any sustained productivity growth above 2% will tend to support rising real incomes and living standards without inflation pressure,” Waller said in prepared remarks he’s set to deliver at DC Fintech Week. “As a monetary policymaker, I’m hoping that AI delivers.”

Economists are divided ...