In effect, there has been a Goldilocks deterioration in the macro-financial environment as major government bond yields have fallen sharply but corporate spreads have not increased (Chart 2). For large corporations who want it, finance is readily available at historically low all-in costs. BIS Review 127/2010  1  In emerging economies, growth has persistently surprised on the upside.
Through our Fintech working group, we are working across the Federal Reserve System to take a deliberate approach to understanding the potential implications of AI for financial services, particularly as they relate to our responsibilities. In light of the potential importance of AI, we are seeking to learn from industry, banks, consumer advocates, researchers, and others, including through today’s conference.