Tech CEOs Advocate AI Self-Regulation as Congress Advances Sanctions Bill and Fed Raises Rates
AI company leaders called for industry-led rules while the House passed a sanctions package targeting Russia and Iran, and the Federal Reserve increased its benchmark rate for the first time in three years.
Leading executives from major artificial-intelligence firms, including Anthropic, OpenAI, Tesla owner Elon Musk and DeepMind co-founder Demis Hassabis, said the sector should develop its own standards and oversight mechanisms. They argued that industry-driven rules could keep pace with rapid advances and address safety concerns.
State Assemblyman Alex Bores, who supports federal AI legislation, countered that self-regulation is insufficient, stating that Congress and the president must protect the public. OpenAI also disclosed six recent incidents of unexpected model behavior and introduced a framework for reporting such “misalignment” events.
In Washington, the House approved the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 with a 262-159 vote. The bill targets large purchasers of Russian energy and authorizes the president to impose tariffs on goods from Russia, Iran and potentially other countries, aiming to reduce revenue that funds the war in Ukraine. Some Democratic lawmakers expressed concern that the tariff authority could be misused.
The Federal Reserve raised its benchmark interest rate by 0.25 percentage point to 4.00%, its first increase since 2023, and signaled another hike may follow. Inflation stood at 3.4% in August, driven in part by higher energy costs. President Donald Trump criticized the move, calling for a rapid reduction in rates.
Separately, a helicopter used by a Los Angeles television station crashed while covering a bus collision, killing three people, including journalist Eliana Moreno and pilot George Marciniw. Colleagues at the station and other local news outlets expressed grief on air and via social media.
"Self-regulation is an oxymoron," said Assemblyman Alex Bores. "What we can do, and will do, is ensure that any change in relative prices don’t broaden out," Fed Chair Kevin Warsh told reporters. "I told, I talked to Kevin, and I think if you want to approach the board, it’s not going to matter. The board is very hostile," President Donald Trump said.
The developments come amid broader debates over AI governance, economic policy and international sanctions.