• Home
  • Contact Us!
  • Privacy Policy

Radio Metta

  • Home
  • Business
  • Education
  • Health
  • Home Deco
  • News
  • Real Estate
  • Technology
  • Contact Us!
  • Privacy Policy
Home» Technology»“Critical” We Understand Digital Money’s Impact: US Policymaker

“Critical” We Understand Digital Money’s Impact: US Policymaker

Loknath Das 07 Jun 2022 Technology Comments Off on “Critical” We Understand Digital Money’s Impact: US Policymaker 11 Views

The development of digital currency and payments technologies could change how the Federal Reserve conducts monetary policy and the composition of its balance sheet, issues the central bank will need to work to understand, New York Fed President John Williams said Wednesday.

'Critical' We Understand Digital Money's Impact: US Policymaker

“Digital transformation could have implications for markets and for our interactions with counterparties, as well as how we carry out monetary policy,” Williams said in opening remarks to a research conference at Columbia University.

“The big question is what a world of digital currencies like stablecoins and (central bank digital currencies) would mean for the implementation of monetary policy. How will central banks anticipate and adapt?” Williams said.

The role of central banks “will always be to supply money and liquidity to bring stability to the economy and financial system,” he said. But “it’s critical that we understand how these transformations could affect the economy and the financial system, as well as monetary policy implementation.”

The Fed is debating whether to create its own version of a digital currency, and the administration of President Joe Biden is undertaking a broader discussion about the regulation of cryptocurrencies and related technologies like stablecoins.

Regardless of whether the Fed creates a digital dollar, the development of a network of private currencies, the growth in size of stablecoin and crypto markets, and the expansion of private payment options could have a profound impact on banks and the legacy financial system that central bank policy relies upon.

[“source=ndtv]

 

critical digital impact Money's Policymaker Understand US We 2022-06-07
Tags critical digital impact Money's Policymaker Understand US We
Facebook Twitter Stumble linkedin Pinterest More

Authors

Posted by : Loknath Das
Previous Article :

Firefly Health Taps Oshi Health to Add Whole-Person Digestive Care to Its Virtual Specialty Network

Next Article :

USF faculty, students to present at 2022 American Educational Research Association Annual Meeting

Related Articles

The Samsung Galaxy Z Flip4 gets FCC certification

Loknath Das 22 Jul 2022

Samsung, Stellantis to Build EV Battery Plant in Indiana, Company’s Second in North America

Loknath Das 01 Jun 2022

Instagram Taking Away Recent Tab For Some Users As Part Of Its Testing

Loknath Das 26 May 2022

Latest Post

News

Your SEO Budget Is Determining Your Success

admin 03 Sep 2022
News

WAN Connection Method – Frame Relay

admin 26 Aug 2022
Education

GESS Proudly Supports and Sponsors UAE Based Team in Global STEM Challenge

Loknath Das 28 Jul 2022
Technology

The Samsung Galaxy Z Flip4 gets FCC certification

Loknath Das 22 Jul 2022
Education

USF faculty, students to present at 2022 American Educational Research Association Annual Meeting

Loknath Das 22 Jul 2022
Technology

“Critical” We Understand Digital Money’s Impact: US Policymaker

Loknath Das 07 Jun 2022
Health

Firefly Health Taps Oshi Health to Add Whole-Person Digestive Care to Its Virtual Specialty Network

Loknath Das 06 Jun 2022
May 2023
M T W T F S S
1234567
891011121314
15161718192021
22232425262728
293031  
« Sep    
  • Home
  • Contact Us!
  • Privacy Policy
Copyright 2016, All Rights Reserved
Magazine Blog News WordPress Theme