Nothing of economic or policy in her speech at the crypto currency conference
Fed's Lael Brainerd is speaking on central bank digital currencies involvement. The comments are not relevant to the economy or Fed policy. Some thoughts from the FOMC member
- Cross border payments one of the most compelling cases for digital currencies
- The central bank digital currency could be a foundation for innovation, more efficient payment system
- In contrast to private money, a CBDC would be a new type of central bank money
- not obvious private stablecoins could offer same protections as bank deposits or cash
- consumers trust current system because of the deposit insurance, supervision, other protections
- in contrast to private digital money, a CBDC would be a new type of central bank money
Her speech can be found HERE
