jerome powell

The Justice Department has closed its investigation into Federal Reserve Chair jerome powell regarding headquarters renovation cost overruns. This move removes a hurdle for Kevin Warsh's confirmation as Fed chair. The probe's closure allows scrutiny to continue through the Inspector General's office, with potential for criminal investigation restart if warranted.

US Fed Federal Open Market Committee (FOMC) meet: jerome powell-led US Federal Reserve on Wednesday kept the interest rates unchanged in the 3.5-3.75% range citing upside risks to inflation in view of the rising global energy prices.

President Trump expressed disappointment if his Fed nominee, Kevin Warsh, doesn't immediately cut interest rates upon confirmation. Warsh, however, stressed his independence and commitment to fighting inflation, a priority given current economic pressures. Democrats questioned his past stances on rates, while Trump continues to advocate for lower borrowing costs, creating a potential conflict.

Precious metals gold and silver are poised for continued pressure this week, influenced by US-Iran peace talks, central bank decisions, and key economic data. Analysts anticipate volatility as investors weigh geopolitical shifts, inflation concerns, and a strong US dollar. Domestic gold and silver futures saw significant drops, reflecting global market trends.

Bank of Canada Governor Tiff Macklem has issued a stark warning. Powerful new artificial intelligence systems like Anthropic's Mythos pose significant cybersecurity risks. Governments and regulators must act swiftly. These AI models can expose and exploit system vulnerabilities at unprecedented speed. The financial system needs to prepare for this evolving threat. International discussions are underway to manage these ongoing challenges.

The US government is preparing to grant federal agencies access to Anthropic's powerful AI model, Mythos, despite concerns about its potential misuse for cybersecurity threats. Officials are establishing safeguards to allow agencies like the Department of Defense and Treasury to leverage the tool for identifying software vulnerabilities, while also acknowledging the dual-edged nature of such advanced AI.

AI firm Anthropic is granting UK banks early access to its powerful 'Mythos' model, capable of finding unknown cybersecurity flaws. This move, part of Project Glasswing, has alerted global regulators, including US Treasury and the Bank of England, due to its potential to exploit vulnerabilities. Anthropic is also expanding its London presence, signaling a significant commitment to the UK.

Gold price prediction today: Gold prices are likely to take cues from the US Federal Reserve stance on rate cuts in the near future, says Praveen Singh, Head Currencies and Commodities, Mirae Asset ShareKhan.

AI firm Anthropic received a significant boost from the Trump administration, with Treasury Secretary Scott Bessent hailing its new Mythos model as crucial for America's AI lead over China. This praise follows a Pentagon dispute and a court win for Anthropic.

Anthropic's powerful AI model, Claude Mythos, capable of finding software vulnerabilities, has prompted a global financial sector scramble. Banks, regulators, and central bankers are urgently assessing risks and accelerating cybersecurity investments. Project Glasswing offers controlled access for defensive security work, highlighting the evolving threat landscape.

Federal Reserve Chair jerome powell advised students to learn AI tools to navigate a challenging job market. He acknowledged AI's potential to automate jobs but emphasized its capacity to boost productivity and create new opportunities. Powell encouraged mastering these technologies for future competitiveness, drawing parallels to historical technological advancements.

US officials are now urging Wall Street banks to deploy Anthropic's powerful AI model, Mythos, internally to bolster cybersecurity defenses. This marks a shift from earlier concerns, with JPMorgan Chase already testing the system. The initiative, supported by Treasury Secretary Bessent and Fed Chair Powell, aims to build resilience against potential AI-driven cyber threats.

Canadian financial leaders and regulators convened to address cybersecurity risks posed by Anthropic's new AI model, Mythos. The dual-use technology, capable of both detecting and exploiting software vulnerabilities, has raised concerns about its potential weaponization by malicious actors. This follows a similar discussion among U.S. financial authorities.

Yann LeCun, Meta's former chief AI scientist and deep learning pioneer, has dismissed the panic around Anthropic's Claude Mythos Preview as "BS from self-delusion." While the model's reported ability to find vulnerabilities in every major operating system and browser spooked Wall Street and triggered an emergency Fed meeting, LeCun and other AI researchers argue the threat is overhyped—though cybersecurity firms using Mythos disagree.