Official 10Y 5.24% / 2Y 4.78%

Governor Christopher J. Waller spoke at Sibos 2026 in Miami. AI agents can plan and execute multistep processes and transact autonomously. Agentic commerce has two models: agent assisted, where the buyer stays in control, and agent delegated, where the buyer grants an agent authority to shop and pay. The biggest barrier to scaling the agent-delegated model is trust: authentication, liability, and fraud. Authentication shifts from proving a buyer is an authorized payer to proving an agent has authority to pay on the buyer's behalf. Micropayments for language-model queries, price data, and API calls favor payment rails with lower flat fees. Meeting this moment requires a proactive approach that balances innovation with the safety, integrity, and stability that underpin trust in payments. As-of Tue 29 Sep 2026. Federal Reserve.

SCB volatility halves via a two-year average and a Jan 1 SCB date. SVB: 94% uninsured; staff knew by March 2022; 96% of chatter after failure was inevitable. As-of Fri 18 Sep 2026, revised 17:07 GMT. Federal Reserve.