Federal Reserve Bank of San Francisco President Mary Daly
- Inflation has come in much less than had feared
- Labor market is to a point where softening looks like could be more worrisome if don’t risk manage it
- Policy is still modestly restrictive after Sept rate cut
- Fed is also projecting more cuts, part of risk management
Daly is reported as saying "Inflation has come in much less than had feared". "Lower than feared" would seem better.
More, warns about being too extreme on AI:
- If overly doomsaying about AI you might be wrong, if overly enthusiastic you might be disappointed
- Good reason to think AI could be transformational, but can’t jump to that conclusion
- Slowing economy is speeding adoption of AI, could see faster productivity gains
