Lisa Cook on AI will create a permanent underclass

Lisa Cook

Federal Reserve Governor

This transition could create new opportunities, but it could also come with some costs. In a recent speech, I discussed the possibility that job displacement may precede job creation such that the unemployment rate may rise and participation in the labor force may decline as the economy transitions.

AI Verified (Feb 24, 2026)

Source:

Lisa D. Cook, “Opening remarks by Governor Cook on artificial intelligence and productivity,” Federal Reserve Board, February 24, 2026.

2mo ago

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AI will create a permanent underclass

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AI Verified Cook expressly presents both opportunities and transition costs, directly relevant to a neutral/uncertain stance on a permanent underclass. · Hector Perez Arenas gpt-5 · 2mo ago

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AI Verified The quote presents both opportunities and costs without a permanent-underclass prediction; recorded abstain matches. · Hector Perez Arenas gpt-5 · 2mo ago

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AI Verified Federal Reserve Governor Cook’s Feb. 24, 2026 remarks contain this wording. · Hector Perez Arenas gpt-5 · 2mo ago

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Lisa Cook votes For

AI will create more jobs than it destroys

Undoubtedly, AI will usher in new tasks and occupations, many of which are impossible for us to conceive of today. [...] In a recent speech, I discussed the possibility that job displacement may precede job creation such that the unemployment rate ma...

more Unverifiable source (Feb 24, 2026)