Fed on 'High Alert' When It Comes to Cyber Risks: Powell

The transcript discusses the heightened vigilance and communication with financial institutions due to cyber risks since the Ukraine war began. It highlights the ongoing high alert status and the importance of open communication channels to manage these risks effectively.

What has been a key focus for financial institutions since the Ukraine war began?

• Enhancing cyber risk vigilance

• Increasing customer service

• Reducing interest rates

• Expanding branch networks

How long have financial institutions been on high alert?

• Since last week

• A few days

• A couple of months

• A year

What is the nature of communication between financial institutions and the speaker's organization?

• Regular back-and-forth communication

• Annual meetings

• No communication

• Occasional updates

What stage of alert are all parties maintaining?

• No alert

• Low alert

• Highest stage of alert

• Medium alert

What is the status of communication channels between the parties involved?

• Unreliable

• Intermittent

• Closed

• Open