The Latest Breaking News from Michelle Bowman

The FTSE 100 index closed down 64.23 points at 9,068.58.

The U.S. labor market just offered the first major reality check on President Donald Trump's tariff-driven economic uncertainty—and it's not the message investors or the White House were hoping for.

The financial industry just got a wake-up call from one of tech's top minds. At a Federal Reserve conference in Washington last week, OpenAI CEO Sam Altman issued a blunt warning: Artificial intelligence has made it dangerously easy to impersonate someone's voice, putting billions of dollars and consumer trust at risk.

The Fed left its key short-term interest rate unchanged for the fifth time this year, at about 4.3%, as was expected.

Analysts see signs of a shift toward easing—possibly beginning in September—but with no guarantees offered after this week's meeting.

In a wide-ranging interview with Fed governor Michelle Bowman, Altman talked about what "terrifies" him about the crisis coming "very, very soon."

“There are cases where entire classes of jobs will go away,” Altman said on a panel at the Federal Reserve, while predicting “entirely new classes of jobs that will come.”

On Tuesday, Federal Reserve Chairman Jerome Powell and Governor Michelle Bowman are due to speak at a banking conference.

Some officials want a July cut to protect the labor market, while others want to wait because they anticipate more inflation coming.

The Federal Reserve said all major banks passed this year’s stress tests, showing they can withstand a hypothetical severe economic downturn

President Trump has said he may move up the announcement of Powell's replacement, with analysts looking for public debate among FOMC members for clues as to who is "auditioning" for the role.