Bill Dudley, Columnist

AI Is No Excuse for the Fed to Cut Interest Rates

February 23, 2026 at 11:30 AM UTC

Bill Dudley is a Bloomberg Opinion columnist. A former president of the Federal Reserve Bank of New York, he is a member of Coinbase Global's advisory council.

Not a dove.
Photographer: SeongJoon Cho/Bloomberg

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Will the miracle of artificial intelligence clear a path for the Federal Reserve to deliver the interest-rate cuts that President Donald Trump keeps demanding? Treasury Secretary Scott Bessent and presumptive future Fed Chair Kevin Warsh appear to think so.

I doubt most members of the policymaking Federal Open Market Committee will agree.