Michelle Bowman

Governor, Federal Reserve Board Of Governors

Search every verified Michelle Bowman interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. On July 14, 2026, Federal Reserve Governor Michelle Bowman delivered a speech at the board's third annual financial inclusion conference, focusing on responsible innovation and financial inclusion. Bowman stated that banks are central to financial inclusion efforts and that innovation is a powerful tool for expanding access to financial services. She described the Federal Reserve's role as creating a supportive regulatory environment and providing clarity on expectations, but said the decision of when and how to innovate rests with each bank and its management, as they know their customers and risk appetite better than regulators. Bowman discussed the potential for artificial intelligence to expand credit access for underserved consumers, while noting that AI applications with direct impact on credit decisions present substantial legal compliance challenges. She emphasized the need for appropriately calibrated supervision for lower-risk AI uses and for ensuring that supervisory guidance does not hinder smaller banks' ability to innovate. Bowman also referenced a Financial Stability Board report on AI adoption in financial institutions, which she said offers practical guidance that institutions can adapt to their circumstances. She concluded that providing clear regulatory expectations and focusing supervision on material risks allows banks to innovate, while unnecessary complexity or prescriptive requirements can hinder innovation that expands access.