OpenAI CEO Sam Altman, whose company created the ChatGPT and DALL-E text and image generation tools, was one of three artificial intelligence experts who testified on oversight of the swiftly developing technology at a Senate Judiciary subcommittee hearing. They were questioned about the state of AI development and some of the concerns its usage had, especially regarding the job market and the spread of election disinformation. Afterward, Senator Richard Blumenthal (D-CT), the subcommittee's chair, talked to reporters about potential steps to regulate AI at the federal level.
President Biden met with House Speaker Kevin McCarthy (R-CA), Senate Majority Leader Chuck Schumer (D-NY), Senate Minority Leader Mitch McConnell (R-KY), and House Minority Leader Hakeem Jeffries (D-NY) at the White House for a meeting on the looming deadline to raise the debt limit. The president had no comments for the press but said congressional leadership would be available after the meeting.
House Speaker Kevin McCarthy said President Biden and congressional leaders "set the stage to carry on further conversations" concerning the debt ceiling following a meeting at the White House. All parties met to discuss how to come to an agreement to increase the debt ceiling before the federal government defaults. Treasury Secretary Janet Yellen warned the U.S. would hit its limit in early June. Senate Minority Leader Mitch McConnell (R-KY) told reporters, " the president and the speaker are the keys to the deal."
Senate Majority Leader Chuck Schumer (D-NY) called a meeting at the White House with other congressional leaders on the debt ceiling "a good and productive meeting." Leader Schumer spoke to reporters after the meeting. He went on to say they all "agreed that we need to pass a bipartisan bill with bipartisan support in both chambers." The senate leader was joined by House Minority Leader Hakeem Jeffries (D-NY). He said, "we all agreed that default is not an exceptional option and must be avoided."
Former U.S. Trade Representative Robert Lighthizer testifies on economic competition with China before the House Select Committee on the Chinese Communist Party.
Gregory Becker, former CEO of Silicon Valley Bank, Scott Shay, former chair and co-founder of Signature Bank, and Michael Roffler, former CEO and president of First Republic Bank, testified on the failure of their regional banks before a House Financial Services joint subcommittee hearing. The former bank executives pointed to several factors that led to the collapse of their financial institutions, including rapid growth, impact of digital assets, and rapid deposit withdrawals spurred by fear stemming from social media reports. They also addressed executive compensation, risk management, and poor governance.
President Biden said debt ceiling negotiators from the White House and Capitol Hill met last night to discuss ways to prevent a government default. The president spoke about negotiations prior to his departure for Japan and a G7 summit. President Biden and congressional leaders from both parties met Tuesday to discuss a framework for negotiations. Treasury Secretary Janet Yellen has warned the U.S. will hit its debt limit in early June.
Former U.S. House Speaker Paul Ryan (R-WI) was honored with a portrait unveiling ceremony in Statuary Hall of the U.S. Capitol. Top congressional leaders, including current Speaker Kevin McCarthy (R-CA) and Senate Majority Leader Chuck Schumer (D-NY), paid tribute to him. After the portrait was unveiled, former Speaker Ryan delivered a speech, recalling highlights from his career, including overseeing passage of the 2017 Tax Cuts and Jobs Act. He also mentioned policy issues he wished had been solved during his time in leadership, including immigration and the federal debt. At the time of this event, Congress and the White House were having talks amid an impending debt limit and possible default. Mr. Ryan served as speaker from 2015-19.
Gregory Becker, former CEO of Silicon Valley Bank, Scott Shay, former chair and co-founder of Signature Bank, and Michael Roffler, former CEO and president of First Republic Bank, testified on the failure of their regional banks before a House Financial Services joint subcommittee hearing. The former bank executives pointed to several factors that led to the collapse of their financial institutions, including rapid growth, impact of digital assets, and rapid deposit withdrawals spurred by fear stemming from social media reports. They also addressed executive compensation, risk management, and poor governance.
Gregory Becker, former CEO of Silicon Valley Bank, Scott Shay, former chair and co-founder of Signature Bank, and Michael Roffler, former CEO and president of First Republic Bank, testified on the failure of their regional banks before a House Financial Services joint subcommittee hearing. The former bank executives pointed to several factors that led to the collapse of their financial institutions, including rapid growth, impact of digital assets, and rapid deposit withdrawals spurred by fear stemming from social media reports. They also addressed executive compensation, risk management, and poor governance.