A Federal Reserve research paper indicates that the current U.S. AI investment boom could cause the current account deficit to keep widening and bring new imported inflation pressures. In FEDS Notes, the Federal Reserve said that AI infrastructure construction is highly dependent on imported high-tech capital goods, with about 90% of the relevant equipment coming from East Asia. Historical experience shows that investment-driven technology cycles of a similar type typically worsen the U.S. current account by about 10% relative to the historical average, and push up import prices.