Fed governor Waller: Stablecoins bring competition to payment systems, but not threat

According to Foresight News, Fed Director Waller said stablecoins bring competition to the payment system, but do not believe they pose a threat. He said that the Trump administration had no one to communicate with him about serving as the Federal Reserve Chairman. The economy faces more risks, and the current situation requires monetary policy that is closer to a neutral level, and tends to be loose policy interest rates. The upward risk of inflation is limited, and tariffs will push up inflation in the short term and gradually fade next year; if there is no impact on tariffs, inflation will approach the 2% target. Delaying interest rate cuts may increase the risk of future aggressive measures, and the July rate cut can provide room for interest rates to remain unchanged in subsequent meetings. If core inflation remains under control and economic growth is weak, further interest rate cuts are needed and labor market issues should not be waited for action.
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