<ul><li>Federal Reserve Governor Lisa Cook highlighted commercial real estate, private credit, and cyber risks as potential issues.</li><li>The commercial real estate (CRE) sector is experiencing the effects of the pandemic and changes in living, shopping, and working habits.</li><li>Private credit, including direct loans made to businesses by nonbank entities, is considered an emerging vulnerability.</li><li>Cyber risks, including cyberattacks by criminal groups and hostile governments, were also emphasized as a potential threat.</li></ul>

Fed Governor Lisa Cook Highlights Private Credit as Emerging Issue

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