Global Market: Fed's Daly dismisses AI as near-term inflation risk amid rising prices

San Francisco Fed President Mary Daly stated that while Artificial Intelligence may lower prices long-term, it's not a current concern for monetary policy. She believes AI's economic impact will unfold over five to ten years, boosting productivity. Daly attributed current inflation to tariffs and recent energy/food cost hikes, not AI, emphasizing the Fed's focus on the next 12 months.