Moynihan Joins Treasury, Fed Heads on Mythos AI Risks; BofA Sees Two 2026 Rate Cuts
Bank of America’s Brian Moynihan joined other systemically important bank CEOs at an urgent April Treasury meeting on Anthropic’s Mythos AI cybersecurity risks, prompting firms to bolster defenses. Meanwhile, BofA forecasts two Fed rate cuts this year and analysts revised Q1 earnings estimates ahead of its April 15 call.
1. Treasury and Fed Urge Banks to Address Mythos AI Cyber Risks
On April 8, Treasury Secretary Scott Bessent and Federal Reserve Chair Jerome Powell convened CEOs of systemically important banks, including BofA’s Brian Moynihan, to outline cybersecurity vulnerabilities posed by Anthropic’s Mythos AI model and to urge adoption of enhanced defenses.
2. BofA Predicts Two Federal Reserve Rate Cuts in 2026
BofA economists retained a forecast for two rate reductions this year, citing supply-driven inflation, muted wage pressures and the expected appointment of Kevin Warsh as Fed Chair by September, while acknowledging slight revisions for softer growth and higher inflation.
3. Report Highlights Kalshi’s Dominant Prediction Market Position
A Bank of America report shows Kalshi capturing 89% of U.S. prediction market volume, overshadowing Polymarket’s 7% and Crypto.com’s 4%, as regulated derivatives contracts drive rapid consolidation in the sector.
4. Q1 Earnings Release Set for April 15
Bank of America will report first-quarter results before the opening bell on April 15, with analysts adjusting forecasts in response to recent macroeconomic developments and the Fed policy outlook.