Central bankers are unlikely to be replaced by machine-learning algorithms any time soon, given the perils of forecasting “out of sample”, Charles Evans said on May 25.

The Federal Reserve Bank of Chicago president highlighted the many uncertainties over the economic impact of technological disruption in remarks to a conference hosted by the Dallas Fed. The “sign, magnitude, and timing” of these effects are all unclear, he said.

For example, online tools might improve job-finding efficiency