Federal Reserve Governor Outlines Supervision Changes and AI Risk Concerns

Federal Reserve Governor Michelle Bowman detailed a restructuring of the central bank's supervision function to enhance decision-making and clarify responsibilities, emphasizing timely action for effective bank oversight. Separately, she noted concerns about AI risks, with JPMorgan CEO Jamie Dimon cautioning against agentic AI, while the UK FCA plans AI for oversight and the Bank of England works on AI cyber defenses. This highlights evolving regulatory approaches and emerging technological challenges in finance.