Federal Reserve Governor Waller: Stablecoins bring competition to the payment system, but do not pose a threat

According to Jinshi, Federal Reserve Governor Waller stated that stablecoins bring competition to the payment system, but he does not believe they pose a threat. He said that no one from the Trump administration has communicated with him about serving as Chairman of the Federal Reserve. The economy faces more risks, and the current situation requires a monetary policy closer to a neutral level, leaning towards easing policy interest rates. There is limited upside risk to inflation, and tariffs will push up inflation in the short term, gradually fading next year; if there is no tariff impact, inflation will be close to the 2% target. Delaying interest rate cuts may increase the risk of aggressive measures in the future, and a rate cut in July could provide room to keep interest rates unchanged at subsequent meetings. If core inflation remains under control and economic growth is weak, further interest rate cuts are needed and action should not be delayed until there are problems in the labor market. [Foresight News]