On the recordJuly 13, 2011
I think it would be a calamitous outcome. It would create a very severe financial shock that would have effects not only to the U.S. economy, but on the global economy.
Source
congress.govI think it would be a calamitous outcome. It would create a very severe financial shock that would have effects not only to the U.S. economy, but on the global economy.
Bernanke warns about the severe consequences of a potential Treasury default.
Share
More from Ben Bernanke
The potential of Artificial Intelligence is enormous, and so is the range of outcomes. How that potential plays out will depend, in part, on the institutions we build it around.
Anthropic has created a unique governance structure to try to ensure that the long-run benefits of AI for humanity far outweigh the risks.
Undesirable boom-bust cycles that ultimately lead to both a less stable economy and higher inflation
Making derivatives safer is very important, part of solving Too Big to Fail and preventing another financial crisis.