[U.S. Financial Stability Oversight Council Shifts Focus to Deregulation] According to a report by Jinse Finance, U.S. Treasury Secretary Besent announced on Thursday that the Trump administration is reforming the government regulatory body responsible for monitoring risks in the financial system, with a greater focus on promoting economic growth and addressing the 'undue burdens' caused by strict financial rules. Besent stated that the Financial Stability Oversight Council (FSOC), which he chairs, will shift its focus to how to relax financial regulations, as he believes the costs of regulation to economic growth themselves constitute a form of risk. As part of this effort, Besent said FSOC will establish several working groups, including ones focused on market and household resilience, as well as a group dedicated to exploring the opportunities and risks brought by artificial intelligence.