Fed Governor Lisa Cook Addressed AI Oversight

Federal Reserve Governor Lisa Cook said elected officials should define AI policy in the financial sector.

Updated on Sept. 28, 2026 in Economic Policy

Fed Governor Lisa Cook Addressed AI Oversight

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Should the federal government take a more active role in regulating artificial intelligence?

Federal Reserve Governor Lisa Cook announced that setting the government's approach to artificial intelligence regulation is the responsibility of elected officials. She clarified that the central bank's involvement with the technology remains confined to its existing mandate as a banking supervisor.

Why it matters

The statement clarifies the boundaries of the Federal Reserve in the growing debate over technology regulation. By deferring to Congress, the Fed signals that it will not independently establish broad national policy regarding AI deployment in finance.

Federal Reserve Governor Lisa Cook reaffirmed that the agency's authority is limited to banking supervision. The scope of future government-wide AI regulations remains entirely undefined by current legislative action.

The players

Lisa Cook

She is a member of the Board of Governors of the Federal Reserve System.

The details

Governor Cook emphasized that the Federal Reserve encourages the responsible use of AI within the financial sector as part of its supervisory duties. However, she maintained that the broader trajectory of the technology and its government-mandated guardrails must be determined by elected representatives.

September 28, 2026: Lisa Cook discussed AI financial regulation.

Macro View

This position mirrors historical precedents where the Federal Reserve has deferred to legislative bodies for major shifts in economic policy scope. It distinguishes the central bank's current supervisory operations from the expansive rulemaking often demanded by shifting technology landscapes.

The stance indicates that immediate changes to financial services access will likely be driven by congressional action rather than sudden Federal Reserve mandates. Customers should expect the current regulatory environment for AI in banking to remain focused on safety and soundness until new laws are passed.

The takeaway

While the Federal Reserve will continue monitoring banking practices, the future of AI regulation is now firmly placed on the legislative agenda. Citizens interested in the governance of these tools should focus on congressional policy debates rather than central bank announcements.