FT News Briefing Thursday, August 22
Aug 22, 2019
European officials are crafting new regulations to give citizens control over their facial recognition data. The IMF is considering lifting age restrictions for leadership roles, signaling a shift in governance. Meanwhile, President Macron aims for a more collaborative G7 summit. Tensions within the Federal Reserve are revealed over interest rate cuts as they navigate a complex economic landscape. The anticipated gathering in Jackson Hole will bring together central bankers to discuss pressing monetary policy challenges in the face of uncertainty.
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EU Facial Recognition Regulation
- The European Commission plans to regulate facial recognition technology.
- This aims to give EU citizens explicit rights over their facial recognition data.
IMF Leadership Change
- Kristalina Georgieva is closer to leading the IMF after they scrapped the age limit.
- The IMF's Executive Board recommended removing the age restriction, which previously prevented anyone 65 or older from taking the position.
G7 Summit Changes
- Emmanuel Macron abandoned the traditional G7 final communique for the Biarritz Summit.
- He aims to have more informal dialogues, citing a "deep crisis of democracy."