The rapid emergence and spread of AI has become a defining feature of the U.S. economy, of prime interest to Federal Reserve officials trying to understand its potential to reshape productivity, growth, inflation and labor demand. Among a broad review of the Fed launched by new Chairman Kevin Warsh, one panel will look solely at AI and its implications for productivity, a force that can allow the economy to grow faster with less inflation, but also means fewer workers are needed to create the same output.