Fed’s Daly: AI-linked repricing has been orderly so far

Daly's framing matters less for what it confirms than for what it concedes: a Fed official is now openly discussing AI-linked asset repricing as a macro variable with growth implications. The notable gap is that she named no asset classes, leaving crypto and RWA markets to infer whether they sit inside or outside her definition — a distinction that determines how much of this signal applies to them. Whether that ambiguity gets resolved in subsequent Fed commentary, or whether AI repricing stays a background risk factor, is the open question worth tracking.