Bank AI

President Donald Trump

Donald Trump

In a recent interview with FOX Business’s Maria Bartiromo, former US President Donald Trump expressed his strong reservations about Central Bank Digital Currencies (CBDCs) and artificial intelligence (AI). Trump labeled <a href="https://news.todayq.com/cbdcs-can-replace-cash-says-international-monetary-funds-md/" target="_blank" rel="noopener noreferrer nofollow">CBDCs</a> as “very dangerous,” echoing sentiments he shared at a New England state rally weeks prior, where he asserted that he would never allow a US CBDC if elected for a second term. Trump’s take on CBDCs and AI 
According to Trump, the inherent danger of CBDCs lies in the potential scenario where individuals wake up to find their bank accounts empty, emphasizing the risks associated with a digital currency system. This stance aligns with his former Republican Party primary election rival, Rob DeSantis, who unequivocally stated that, if elected, he would eliminate CBDCs on day one of his presidency.
The Republican Party appears to be largely united on this front, with <a href="https://news.todayq.com/us-senators-split-on-crypto-support-new-rules-incoming/" target="_blank" rel="noopener noreferrer nofollow">US Senator</a> Ted Cruz introducing a bill last year to ban the implementation of CBDCs in the US financial landscape. The bill, supported by fellow Republicans, focuses on addressing concerns related to the traceability and tracking of user transactions, citing them as security and privacy issues.
Trump also declared that, if granted a second chance, he would not re-appoint Jerome Powell as the Chair of the Federal Reserve. Despite Powell’s current term extending until 2026, Trump expressed distrust, suggesting that Powell might take actions favoring the Democrats. This skepticism arises from Powell’s indication that the Federal Reserve could lower interest rates if inflation falls below its 2% target. His take on AI 
In addition to CBDCs, Trump raised concerns about the “dangerous and scary” nature of artificial intelligence during the FOX Business interview. The former president’s apprehensions about AI align with a global concern reflected in the AI Safety Summit held in London last November. At the summit, big countries like the UK, USA, and <a href="https://news.todayq.com/will-china-discuss-crypto-ban-after-talk-over-aml-rules/" target="_blank" rel="noopener noreferrer nofollow">China</a> worked together on the Bletchley Pact. Their goal was to create rules to make sure AI is used responsibly.
Despite global attempts to tackle the issue, Trump strongly believes that we urgently need to deal with the “big problem” caused by AI. Its ability to manipulate information makes it hard to tell real from fake. According to Trump, this poses a big security threat needing immediate attention.
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‘Dangerous’ Donald Trump comments; raising concerns over CBDCs and AI

Todayq News

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