US Treasury Secretary Janet Yellen said stablecoins could lead to greater efficiency and contribute to easier payments, but require proper regulation.
US Federal Reserve Chairman Jerome Powell and US Treasury Secretary Janet Yellen made a presentation for the US Senate today.
In response to a question from Yellen during the presentation, for stablecoins, “If regulated, they could provide some convenience in simple payments.” used the phrases. He also gave an important warning:
“There are significant risks associated with them, including risks to payment systems and concentrations of economic power.”
Fed chairman Powell said during the debate that inflationary pressures remain high.
The Federal Reserve Chair said the emergence of a new variant of COVID-19 could slow the economy and hiring, while also increasing uncertainty about inflation. “It’s time to remove the word ‘temporary’ about inflation,” Powell said.