US Federal Reserve Board Conference to Explore Innovative Payment Systems Amidst Legal Battle over Governor’s Independence

The US Federal Reserve Board will host a conference on October 21 to discuss innovative payment systems, including stablecoins and tokenization. Governor Christopher Waller highlighted the importance of new technologies in enhancing payment safety and efficiency. The announcement comes amidst challenges to the Fed’s independence, with President Trump trying to remove Governor Lisa Cook. A bill passed in July set a framework for payment stablecoins, mandating regulatory actions by the US Treasury and Fed. Concerns about maintaining the Fed’s independence were raised by 600 economists in an open letter, emphasizing the need for clear justifications for removing Governors. The court case regarding Cook’s dismissal is ongoing, with legal experts weighing in on the matter.

[Original Post]

Generated by DMK News Bot