Andrew Harrer/Bloomberg Key insight: Federal Reserve Chair Jerome Powell said the recent uptick in the unemployment rate and slowing job gains were factors that led the central bank’s rate-setting committee to cut short-term interest rates by 25 basis points. Expert quote: “Our policy is not on a preset course. We will continue to determine the […]
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Adobe Stock: Tada Images FICO, the eponymous credit score provider, announced three artificial intelligence language models for financial services firms on Tuesday: Focused Foundation Model, Focused Language Model and Focused Sequence Model. In developing its own language models, FICO is offering an alternative to the large foundation models that have become popular in the industry,
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Freddie Mac announced the appointment of a new general counsel, whose hiring comes amid ongoing speculation about the future of the government-sponsored enterprises. The GSE this week named Matthew D. Abrusci executive vice president, general counsel and corporate secretary. With a career across banking, capital markets and securities law, Abrusci joins Freddie Mac after recently
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