By Reuters Staff
1 Min Read
WASHINGTON, March 29 (Reuters) - U.S. banking regulators announced on Monday they were soliciting public input on the growing use of artificial intelligence by financial institutions.
In a joint statement, the regulators said they wanted feedback on the use of the technology by banks to police fraud, underwrite loans and for other purposes, and what perks and challenges it presents.
The regulators also sought comment on proper risk management and governance policies around AI, and whether any regulatory clarity would be helpful. (Reporting by Pete Schroeder Editing by Chris Reese)
By Lucia Mutikani WASHINGTON (Reuters) - The U.S. economy created the most jobs in seven months in March as more Americans got vaccinated and the government doled out additional pandemic relief money, marking the start of what could be the strongest economic performance this year in nearly four decades. The Labor Department s closely watched employment report on Friday also showed job gains in February were larger than initially estimated. The best first two months of employment growth of any administration in history suggested the labor market has finally turned the corner. All industries added jobs and many people rejoined the labor force. A measure of the economy s ability to create employment also improved. But the road to full recovery remains long. The jobs deficit is still huge and more than four million Americans have been unemployed for over six months.
April 01 2021
American Rescue Plan funds could be used to shore up shaky budgets and pay for some projects.
The $1,400 checks to individuals is the best known part of the $1.9 trillion American Rescue Plan approved by Congress earlier this month.
But alongside unemployment aid, COVID-19 funds and other spending is money for states, counties and cities to use to backfill their budgets.
In Oregon, that amounts to just over $4.26 billion the state gets $2.62 billion, counties receive $818 million, larger cities get $438 million, and other communities receive $243 million.
There s another $1.55 million for state construction and renovation projects.
The 278 local allocations range from $10,000 for the city of Antelope (population 50) in Wasco County to $159.65 million for Multnomah County.
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Chris Wattie/Reuters
Most Canadians want the Bank of Canada to stick with its existing inflation-targeting regime, even as many question whether the central bank’s 2-per-cent target reflects the reality of rising prices.
That’s according to a report published by the Bank of Canada on Wednesday, laying out findings from public consultations conducted over the past two years as part of a sweeping review of its mandate.
3 Min Read
NEW YORK (Reuters) - The U.S. dollar’s share of currency reserves plunged in the fourth quarter last year to its lowest since 1995, International Monetary Fun (IMF) data showed on Wednesday, but some analysts said the drop was due in part to valuation adjustments.
FILE PHOTO: U.S. one dollar banknotes are seen in front of displayed stock graph in this illustration taken February 8, 2021. REUTERS/Dado Ruvic/Illustration/ File Photo
Global reserves, which are reported in U.S. dollars, are assets of central banks held in different currencies used primarily to support their liabilities. Central banks sometimes use reserves to help support their respective currencies.