[Federal Reserve Governor Cook: Increased likelihood of sharp asset price declines, but the financial system remains resilient] Federal Reserve Governor Cook stated that the likelihood of sharp asset price declines has increased, but this does not pose a risk to the financial system, as the U.S. financial system remains resilient. He mentioned that the application of generative artificial intelligence in trading raises concerns but could also bring benefits, requiring careful attention. Additionally, private credit currently does not pose a threat to financial stability but warrants close monitoring.