The Morning Key · September 28, 2026
Cook on AI and the economy — 2026-09-28
By Gonzalez Capital Mortgage · Powered by Morty
Fed Governor Cook’s remarks on 2026-09-28
On 2026-09-28, Fed Governor Cook described AI as a general-purpose technology already influencing investment, prices and the labor market. She said AI-related spending has raised prices for chips, computers and software, and that investment in data centers may be broadening pressure into widely used inputs such as construction labor and energy. Cook said productivity gains from AI could eventually ease inflation but likely not soon enough to offset near-term price pressures; she emphasized substantial uncertainty and that outcomes depend on adoption, wage pass-through and market structure. These points come from her speech "An Update on AI and the Economy."
GCM perspective: practical borrower considerations
Cook’s emphasis on uncertain near-term price pressure suggests borrowers should avoid assuming a prompt, sustained drop in borrowing costs. Assess personal timing and financial buffers, keep flexibility for purchase or refinance decisions, and monitor labor-market and price data cited by Cook for signs that AI-related price pressures are broadening or easing. Decisions about locking or shopping should reflect personal tolerance for rate movement and the specific market signals Cook identifies, not an expectation of immediate relief.
Sources & context
Checked September 28, 2026. Market commentary reflects information available at publication, not a prediction or personalized rate quote.