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Critical Statements from FED Senior Officials – They Also Talked About Cryptocurrencies

Author: Content Editor
Federal Reserve (Fed) member Christopher Waller opposes the launch of a central bank digital currency (CBDC) in the United States, stating that the private sector is better equipped to explore and implement new financial technologies. However, he acknowledges that some systemic problems in payments cannot be solved solely by the private sector, and the Fed will continue to provide the basic clearing and settlement infrastructure. Waller also highlights the potential benefits of stablecoins but warns of the risk of bank runs and emphasizes the need for strong regulation. In contrast, Fed member Thomas Barkin offers an optimistic view of the US economy, stating that its strength gives the Fed flexibility in managing borrowing costs. Barkin discusses two possible economic scenarios that could influence the Fed's future decisions on interest rates.

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