Fed's Barr: AI investment 'wildly indifferent' to monetary policy stance

NEW YORK, Feb 17 (Reuters) - Federal Reserve Governor Michael Barr said on Tuesday central bank monetary policy is having no impact on an artificial investment activity surge.

“My sense of the investments today in AI is that they are wildly indifferent” to where the Fed sets the costs of short-term credit, Barr said at a gathering of the New York Association for Business Economics, in New York. He noted investment in the sector boomed when the Fed was raising rates and boomed when rates were coming down, amid a winner-takes-all mentality in the sector.