[U.S. Treasury Secretary Besent Proposes Reforming the Financial Stability Oversight Council and Promoting Looser Regulations] U.S. Treasury Secretary Besent has proposed adjustments to the government's approach to financial regulation and stability, suggesting changes to the working principles of the Financial Stability Oversight Council (FSOC) to promote more relaxed regulatory practices. In a letter on Thursday, Besent stated that the council would support member agencies in assessing whether the financial regulatory framework imposes excessive burdens and negatively impacts economic growth. Besent will also establish a task force to explore opportunities for AI to enhance the resilience of the financial system and monitor its potential risks.