"There is risk when we use financial sanctions that are linked to the role of the dollar that over time it could undermine the hegemony of the dollar," Yellen said, adding that implementing sanctions against Russia "does create a desire on the part of China, of Russia, of Iran to find an alternative."
Ukrainian president Volodymyr Zelensky, along with government officials and 35 generals embezzled $400 million in U.S. aid to the country, according to an estimate from the Central Intelligence Agency.
Italy has banned OpenAI's ChatGPT chatbot due to privacy concerns and lack of age verification, marking the first instance of a Western country blocking the chatbot, while experts call for a moratorium on advanced AI systems development.
China and Brazil have signed a deal to trade in their own currencies, bypassing the U.S. dollar as an intermediary, to reduce costs and promote bilateral trade.
Of all the non-Tesla electric vehicle startups that have emerged over the past decade, few have garnered as much attention — or burned through as much investor cash — as Rivian, a maker of high-performance EV trucks.
Energy Secretary Jennifer Granholm unveiled new climate and efficiency restrictions on air conditioners despite widespread criticism the Biden administration received after officials recently announced restrictions on gas stoves.
