Torsten Slok, Chief Economist at Apollo Global Management, a major U.S. asset management firm, warned on the 27th that agent-based AI assistants like 'Muse' could automatically transfer household cash to high-yield accounts, potentially leading to bank runs.
While the average interest rate on savings accounts across the U.S. remains at 0.1%, fintech companies are offering yields ranging from 3.3% to 5.0%...
