While maintaining interest rates at their highest point in over 20 years on Wednesday, the Federal Reserve made a suggestion that lower borrowing costs may soon be implemented by policymakers due to slight recent improvements in inflation.
Read More Federal Reserve Holds Interest Rates Steady For 2 Decades, Leaves Door Open For Cuts
At issue is how the central bank calculates an extra layer of capital it imposes on U.S. global systemically important banks, known as the “GSIB surcharge.”
Read More Exclusive: Fed may tweak rule that could save biggest US banks billions
The Nasdaq and the S&P 500 hit record highs on Monday, while the Dow scaled a more than one-month high as investors awaited a key inflation report.
Read More S&P 500, Nasdaq notch record highs with inflation data, earnings in focus
The spread of AI-based systems offers big opportunities for financial services firms, but asset managers face higher stakes because they manage sensitive information.
Read More Financial industry grappling with AI’s gifts and perils, executives say
Wall Street slipped on Monday as wary investors steered clear of risky assets ahead of a key inflation reading and a meeting of the Federal Reserve this week.
Read More Wall St unsettled ahead of inflation data, Fed meeting
Treasury Secretary Janet Yellen will warn that the use of AI in finance could lower transaction costs, but carries “significant risks.”
Read More Yellen to warn of ‘significant risks’ from use of AI in finance