(From L) German Health Minister Nina Warken (L) chats with German Minister for Research, Technology and Aerospace Dorothee Baer (R) as German Economy and Energy Minister Katherina Reiche (C) arrives at the weekly cabinet meeting on February 25, 2026 at the Chancellery in Berlin. (Photo by John MACDOUGALL / AFP via Getty Images)

*** BESTPIX *** WASHINGTON, DC - FEBRUARY 24: Lisa D. Cook, a member of the Board of Governors of the Federal Reserve speaks at The Capital Hilton during the 42nd annual National Association for Business Economics Economic Policy Conference on February 24, 2026 in Washington, DC. Cook speaks as part of the AI and Productivity Across the Economy discussion which includes, Ging Cee Ng, Senior Data Science Manager, Meta, Michael Schwarz, Chief Economist and Corporate Vice President, Microsoft, and is moderated by Jared Franz, U.S. Economist, Capital Group of Companies. (Photo by Luke Johnson/Getty Images)

WASHINGTON, DC - FEBRUARY 24: Moderator Jared Franz, U.S. Economist, Capital Group of Companies, speaks with Lisa D. Cook, Member, Board of Governors of the Federal Reserve System at The Capital Hilton during the 42nd annual National Association for Business Economics Economic Policy Conference on February 24, 2026 in Washington, DC. Cook speaks as part of the AI and Productivity Across the Economy discussion which includes, Ging Cee Ng, Senior Data Science Manager, Meta, Michael Schwarz, Chief Economist and Corporate Vice President, Microsoft, and is moderated by Jared Franz, U.S. Economist, Capital Group of Companies. (Photo by Luke Johnson/Getty Images)

WASHINGTON, DC - FEBRUARY 24: Lisa D. Cook, a member of the Board of Governors of the Federal Reserve speaks at The Capital Hilton during the 42nd annual National Association for Business Economics Economic Policy Conference on February 24, 2026 in Washington, DC. Cook speaks as part of the AI and Productivity Across the Economy discussion which includes, Ging Cee Ng, Senior Data Science Manager, Meta, Michael Schwarz, Chief Economist and Corporate Vice President, Microsoft, and is moderated by Jared Franz, U.S. Economist, Capital Group of Companies. (Photo by Luke Johnson/Getty Images)

WASHINGTON, DC - FEBRUARY 24: Lisa D. Cook, a member of the Board of Governors of the Federal Reserve speaks at The Capital Hilton during the 42nd annual National Association for Business Economics Economic Policy Conference on February 24, 2026 in Washington, DC. Cook speaks as part of the AI and Productivity Across the Economy discussion which includes, Ging Cee Ng, Senior Data Science Manager, Meta, Michael Schwarz, Chief Economist and Corporate Vice President, Microsoft, and is moderated by Jared Franz, U.S. Economist, Capital Group of Companies. (Photo by Luke Johnson/Getty Images)

WASHINGTON, DC - FEBRUARY 24: Lisa D. Cook, a member of the Board of Governors of the Federal Reserve speaks at The Capital Hilton during the 42nd annual National Association for Business Economics Economic Policy Conference on February 24, 2026 in Washington, DC. Cook speaks as part of the AI and Productivity Across the Economy discussion which includes, Ging Cee Ng, Senior Data Science Manager, Meta, Michael Schwarz, Chief Economist and Corporate Vice President, Microsoft, and is moderated by Jared Franz, U.S. Economist, Capital Group of Companies. (Photo by Luke Johnson/Getty Images)

WASHINGTON, DC - FEBRUARY 24: Lisa D. Cook, a member of the Board of Governors of the Federal Reserve speaks at The Capital Hilton during the 42nd annual National Association for Business Economics Economic Policy Conference on February 24, 2026 in Washington, DC. Cook speaks as part of the AI and Productivity Across the Economy discussion which includes, Ging Cee Ng, Senior Data Science Manager, Meta, Michael Schwarz, Chief Economist and Corporate Vice President, Microsoft, and is moderated by Jared Franz, U.S. Economist, Capital Group of Companies. (Photo by Luke Johnson/Getty Images)

WASHINGTON, DC - FEBRUARY 24: Lisa D. Cook, a member of the Board of Governors of the Federal Reserve speaks at The Capital Hilton during the 42nd annual National Association for Business Economics Economic Policy Conference on February 24, 2026 in Washington, DC. Cook speaks as part of the AI and Productivity Across the Economy discussion which includes, Ging Cee Ng, Senior Data Science Manager, Meta, Michael Schwarz, Chief Economist and Corporate Vice President, Microsoft, and is moderated by Jared Franz, U.S. Economist, Capital Group of Companies. (Photo by Luke Johnson/Getty Images)