A study by the Federal Reserve suggests that the current AI investment boom in the United States may cause the current account deficit to keep widening, and could bring new imported inflation pressure. The Fed’s FEDS Notes says that AI infrastructure construction is highly dependent on imported high-tech capital goods, with about 90% of the related equipment coming from East Asia. Historical experience shows that technology cycles driven by similar kinds of investment typically worsen the U.S. current account by roughly 10% of the historical average level, and also lift import prices.