The Federal Reserve Bank of New York has released a study into artificial intelligence (AI) which suggests it is likely to reshape but not immediately displace large segments of the U.S. workforce. The study, based on job-task analysis and employer data, found that generative AI is likely augmenting more jobs than it replaces in the near term. However, the longer-term effects of AI remain uncertain as the technology evolves across the economy. Higher-paying, white-collar occupations, including those in the finance, law, and technology sectors, face the greatest exposure to AI tools, especially those jobs involving routine cognitive tasks such as writing, coding, and data analysis. The findings come as policymakers are increasingly focused on how AI could affect productivity, wages and inflation. The federal funds rate is currently 3.50% to 3.75% after the Federal Open Market Committee held the rate steady following two meetings.