There is where stablecoins can offer a powerful advantage, according to Fed governor

Core Insights - The discussion highlights the potential role of stable coins in addressing debt issues and their comparison to the global savings glut experienced 20-25 years ago [3][4][7] - The anticipated growth in stable coins is expected to come primarily from international markets, which could lead to significant inflows into US dollar savings vehicles, thereby exerting downward pressure on interest rates [5][7] Stable Coins and Economic Impact - Stable coins may provide access to US dollar savings vehicles for individuals in countries with capital controls or limited banking services, offering a significant advantage in those regions [6] - The potential inflow from stable coins could mimic the effects of the past global savings glut, with estimates suggesting it could account for about a third of the global savings influx, leading to material downward pressure on interest rates [7] Supply-Side Incentives and Economic Growth - The company expresses confidence in supply-side incentives, such as full expensing in tax legislation, which are expected to enhance capital accumulation and labor productivity, ultimately raising wages without causing inflation [9] - The overall economic outlook is influenced by various factors, including tax legislation and Federal Reserve policies aimed at improving affordability and managing stable prices and maximum employment [10]