Bessent rejects liability shield for AI developers
Treasury Secretary says AI companies must take responsibility themselves, pushing back against industry demands for federal protection.
What to know
- Treasury Secretary Bessent explicitly rejected calls for a federal liability shield for AI developers, stating that companies must take responsibility for their own products.
- Bessent's position conflicts with some in the AI industry who have sought legal protection, though it aligns with Trump's opposition to regulatory crackdowns on AI development.
- The statement comes as the Trump administration balances industry growth with accountability concerns, while the broader economy grapples with rising interest rates and bond yields.
“You might as well vote with the board. It's not going to matter.”
Donald Trump, President · reporters ↗ · Sep 15
Scott Bessent Treasury Secretary
Donald Trump President
Kevin Warsh Federal Reserve Chairman
How it unfolded 1 development · click the chart to see its coverage articles
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“It is humans who are responsible, not the AI. AI companies need to take responsibility for themselves.”
— Scott Bessent -
1 outlet first by Quartz, 5d ago · read ↗
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background
Federal Reserve raises benchmark rate to 3.75%-4% — The Federal Open Market Committee voted to raise the benchmark rate target for the first time since 2023 as policymakers addressed what they described as "elevated inflation."
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House Democrats press Bessent on bond yields and energy prices — Treasury Secretary Bessent appeared before the House Financial Services Committee, facing criticism over rising bond yields and surging energy prices. He defended the Treasury Department's buyback program for long-dated securities.