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Federal Reserve Chairman Kevin Warsh testifies during the Senate Banking, Housing and Urban Affairs Committee hearing titled "The Semiannual Monetary Policy Report to the Congress," in Dirksen building on Wednesday, July 15, 2026. Tom Williams | Cq-roll Call, Inc. | Getty Images
In April, the Federal Reserve and Treasury Department convened an extraordinary meeting with the CEOs of the nation's top banks. Officials rang the alarm bell about an advanced new artificial intelligence model that could pose an unprecedented cybersecurity threat to the nation's top financial institutions. Anthropic, the company behind the AI model, Claude Mythos Preview, said the offering excelled at identifying weaknesses and security vulnerabilities within software. The company released it to a select group of banks and other institutions as part of a cybersecurity initiative called Project Glasswing. For at least three months afterward, the Fed itself didn't have access to Mythos, leaving arguably the most systemically important global financial institution vulnerable, even as other institutions began to patch their weaknesses. The Fed was still trying to get access to Mythos as of July 15. It isn't clear if the central bank has since gained access to the model. Anthropic didn't immediately respond to a request for comment. The Fed declined to comment for this article.
The meeting in April happened under the previous leader of the Fed, Jerome Powell, who convened bank CEOs alongside Treasury Secretary Scott Bessent, as CNBC reported earlier. But in little-noticed congressional testimony last week, Powell's successor, Chairman Kevin Warsh, told the Senate he was still working to secure access to Mythos and other cutting-edge AI models. "We are not the deciders as to who has access, but I have not been shy in sharing my views with authorities across the government about the vulnerabilities, and have been asking for access not just for the Federal Reserve but for other institutions to a whole range of these new artificial intelligence models so that they can protect themselves," Warsh told Sen. Jack Reed, D.-R.I., in response to questions about Mythos. Warsh clarified that there were other models the Fed needed access to as well. "I wouldn't want to just isolate Mythos, though," Warsh said. "As these new models find their way more broadly, our banking system and frankly, the Federal Reserve needs to do all we can to patch any vulnerabilities that we have." Warsh has embraced the adoption of AI in his brief time at the Fed, calling it a transformational technology. It isn't clear the work to address vulnerabilities can begin without access to Mythos.