The US Federal Reserve (FED) from the vice presidents Lael Brainardplanned to be implemented in the future digital dollar He talked about his project.
Brainard spoke at a conference in New York hosted by the Bank Policy Institute. The Vice President stated that the future of the financial system is the basis of the FED’s research for the future. Brainard said that the need for a digital US dollar in the future should be discussed.
“Private banks should continue to contribute to the economy. The system built by the FED on the digital dollar could put these institutions in trouble.”
Brainard spoke very clearly about the stablecoin. The Vice President stated that stablecoins need to be regulated urgently.
“Interests Will Have to Increase Even More”
The FED Vice Chairman also spoke about the rising inflation monster around the world and in the USA. Brainard reiterated that it will do whatever it takes to keep inflation down.
“We are ready to pay any price to reduce inflation. Interest rates may continue to rise further. It may take time for the tight monetary policy to take effect, but we are determined.”
All central banks that want to fight inflation increase interest rates. Due to the increase in interest rates, investors are expected to recession in the economy. The expectation of recession is cryptocurrencies causes sales in all risk products, including
Leading cryptocurrency bitcointrading around $19,050 at the time of writing.
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