Fed's Bostic a cryptocurrency doubter
Answers audience question.
- Sees problems with using cryptocurrencies for transactions as a result of sharp valuation changes
He also says:
- Sees little policy impact from Fed balance sheet unwind.
- We are in uncharted territory to a great extent and we're going to watch very closely to see if there are signs as we pulled back more and more from the marketplace
- we are seeing a demand for US securities actually go up in ways that are going to flatten the yield curve significantly
- That is different from making a read on broader economic performance