Mary Daly, president of the San Francisco Federal Reserve, says there is no doubt that artificial intelligence will contribute to price pressures. Strong demand for semiconductors and data centers could create a persistent supply shock and fuel U.S. inflation. The Federal Reserve’s policy rate currently stands between 3.75% and 4.00%, while annual inflation reached 3.7% in September. Markets now see a greater risk of interest rate hikes in 2026, while investors will closely monitor upcoming inflation data and communications from Federal Reserve officials.
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