Federal Reserve Chair Jerome Powell informed Congress about heightened cybersecurity vigilance in response to potential Iranian cyber threats following U.S. military strikes on Iran's nuclear facilities. He emphasized the Fed's communication with other financial regulators and reassured the availability of robust resources to defend against these threats. Despite readiness, Powell acknowledged the ever-evolving nature of cyber threats, expressing that being comfortable with security measures is unrealistic, as adversaries constantly improve their tactics. While tensions escalate, no immediate cyberattacks had occurred yet from Iran following the recent developments.
"We're on the alert because we're a target as well. So you're right to raise it. It's a big issue."
"The government generally spends a lot on these things; that said, you can never, ever be comfortable in this area because the bad guys are always getting better."
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