Testimony in front of the House Services Panel
- No reason why expansion cannot continue
- Nothing about expansion that is unstable, unsustainable
- Financial system is strengthening since the financial crisis
- Cyber attack risk is a major focus
- At a high level trumps policies are affecting the economy
- Cash use in the US economy continues to grow
- important for central banks to study digital currencies
- Libra was a wake-up call on digital current a growth
- Fed has not yet decided to pursue a US digital currency
- Many questions need to be answered on digital currencies
- Fed would prefer to rely on tools we did use rather than negative rates
- Fed chose not to deploy negative rates
