Powell And Bessent Summon Bank CEOs For An 'Urgent' Meeting - What's Going On

Damir Tokic13.56K FollowersFollow5ShareSavePlay(8min)Comments(4)SummaryThe Fed Chair and the Treasury Secretary had an urgent meeting with bank CEOs, apparently to discuss the new Anthropic advanced AI model.These urgent, highest-level meetings usually happen during a financial crisis.The widespread adoption of reasoning AI models for decision-making could accelerate a financial crisis if everybody acts on the same adverse narrative.This urgent meeting happened in advance of the US-Iran negotiations this weekend. Sophie Park/Getty Images News An "urgent" meeting This news hit the market unexpectedly on Friday morning: Bessent, Powell convened urgent meeting with bank CEOs about Anthropic's new AI model. So, this meeting was convened by 1) the Fed Chair, who is in charge of monetary policy withThis article was written byDamir Tokic13.56K FollowersFollowCommodity Trading Adviser (CTA), member of National Futures Association. Professor of Finance, research on Global-macro issues. Editor-in-Chief, Journal of Corporate Accounting and Finance.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.