The Treasury Department is seeking comments from the public about the use of artificial intelligence (AI) in the financial services sector. The agency released a request for information on Thursday (June 6) and said it encourages the submission of comments within 60 days, according to...
Treasury Secretary Janet Yellen will caution financial institutions on Thursday (June 6) about risks associated with the use of artificial intelligence (AI). While AI is already used in the financial services sector for forecasting, fraud prevention, customer support and other use cases, the technology’s rapid...
The high cost of essentials like food, rent and mortgages are weighing on many American consumers, Treasury Secretary Janet Yellen said Thursday (May 23). Yellen said the price increases have been “substantial,” rapid and noticeable to consumers, the Financial Times reported Thursday. The Consumer Price Index is up more than 19% since President...
Stablecoins need more regulation. Stablecoins might, in some cases, cause runs. And as government officials and financial institutions (through the Bank for International Settlements) sound some alarms about stablecoins, it remains to be seen whether the digital holdings will satisfy some of the key use...
March 16, 2023
Treasury Secretary Janet Yellen isn’t playing favorites, just protecting the U.S. banking system. She told lawmakers Thursday (March 16) that “Americans can feel confident that their deposits will be there when they need them” in her prepared remarks before the Senate Finance Committee. “This week’s actions demonstrate our resolute commitment to ensure that depositors’ savings […]
June 13, 2024
America’s job market is starting to resemble its pre-pandemic self, says Treasury Secretary Janet Yellen. Speaking to CNBC Thursday (June 13), Yellen also noted that cooling wage growth does not threaten to compound inflation. “The labor market has become a little less hot, a little bit more normal. The number of job openings has declined some. We’ve […]
June 06, 2024
The Treasury Department is seeking comments from the public about the use of artificial intelligence (AI) in the financial services sector. The agency released a request for information on Thursday...
June 05, 2024
Treasury Secretary Janet Yellen will caution financial institutions on Thursday (June 6) about risks associated with the use of artificial intelligence (AI). While AI is already used in the financial...
May 24, 2024
The high cost of essentials like food, rent and mortgages are weighing on many American consumers, Treasury Secretary Janet Yellen said Thursday (May 23). Yellen said the price increases have been “substantial,” rapid and...
