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The chair of the Federal Reserve expressed some reservations today about having a role dedicated to developing bank regulation.

Jay Powell says capital reform should be re-proposed

Federal Reserve Chair Jay Powell told the Senate Banking Committee today he believed Basel III capital reform should be formally re-proposed before being finalized.

Powell and the Fed are not the only decision-makers here; they must work with other federal regulators to finish capital reform. But public support from Powell toward a re-proposed product is a meaningful shift for the Fed chair with significant consequences for Basel III Endgame.

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Presented by Jones Family Office

Recent jobless data shows the first signs of the societal disruptions of AI are already here. The warning is playing out in real-time, right before our eyes. We need to stop delaying efforts to make AI safe for humanity.

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