New Delhi, Dec. 25 -- Will America's monetary policy become more like India's as AI begins to crunch jobs?

The US Fed, mandated to maximize employment and keep prices stable, has cut its policy rate by three-quarters of a percentage point since mid-September in response to job-market weakness in the US.

In the quarter ended that month, however, the American economy grew at a hearty annualized rate of 4.3%, half a point faster than the previous three months, even as inflation rose to 2.8% from 2.1%-both above the Fed's 2% target.

Clearly, its jobs mandate has taken precedence over price stability.

Granted, rate calls are aimed at altering outcomes under future conditions; also, we can't be sure if AI is resulting in jobless growth.

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