Fed's Cook: AI investment is fueling inflation pressure
- —Cook supported the Fed's 0.25-point rate hike in September
- —US inflation over 12 months was 3.8%, core 3.4%
- —Announced AI investment plans total $2 trillion, only partly spent
- —Electricity and water costs rose about 5% over the past year
Why it matters: The comments signal that the AI boom is stoking inflation, reducing the odds of near-term Fed easing and weighing on risk assets including bitcoin.
Source: Blockmedia