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RT — Fed Chair warns cyberattacks pose biggest threat to US economy

Summary:
Issuing a warning, the head of America’s central banking system said, the risk that the Federal Reserve is keeping its “eyes on the most now is [the] cyber risk,” laying out a situation in which a hack could easily take financial institutions offline.While there are a number of potential cyberattacks that could cripple the US economy, the Fed chairman said the nightmare scenario for the US would be a hack that removes the ability of institutions to track payments being made and received, bringing part or all of the financial system to a halt....RTFed Chair warns cyberattacks pose biggest threat to US economy

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Issuing a warning, the head of America’s central banking system said, the risk that the Federal Reserve is keeping its “eyes on the most now is [the] cyber risk,” laying out a situation in which a hack could easily take financial institutions offline.

While there are a number of potential cyberattacks that could cripple the US economy, the Fed chairman said the nightmare scenario for the US would be a hack that removes the ability of institutions to track payments being made and received, bringing part or all of the financial system to a halt....

RT
Fed Chair warns cyberattacks pose biggest threat to US economy
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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