Sunday, May 26, 2024
18.5 C
London
HomeReportsThe Fed Governor discusses cryptocurrency, the US economy, and inflation.

The Fed Governor discusses cryptocurrency, the US economy, and inflation.

Michelle Bowman, a member of the Federal Reserve System’s Board of Governors, spoke about cryptocurrency, the US economy, and the Fed’s efforts to reduce inflation on Tuesday at a Florida Bankers Association Leadership event in Miami.

Because of the significant risks that these activities may pose, the Fed and other banking agencies will maintain their focus in this area. But, in the end, we don’t want to stifle innovation.

“By inhibiting innovation, we could be pushing growth in this space into the non-bank sector, leading to much less transparency and potential financial stability risk. “We’re thinking about some of these issues and how a regulatory approach might look,” she said.

Governor Bowman stated that she has supported the Federal Open Market Committee’s (FOMC) recent policy actions to combat high inflation. “I am committed to taking additional actions to return inflation to our target,” she stated emphatically.

DISCLAIMER

As per the principles outlined by the Trust Project, Cryptozia remains dedicated to delivering impartial and transparent reporting. This news article is intended to offer precise and punctual information. Nevertheless, it is recommended that readers autonomously corroborate the facts and seek advice from a qualified expert prior to making any decisions reliant on this content.

latest articles

explore more