According to Bloomberg, former People’s Bank of China Governor Zhou Xiaochuan warned that stablecoins could fuel speculation and undermine financial stability. He noted that stablecoins offer limited cost advantages compared to China’s existing retail payment systems and added that claims of “extremely high” traditional cross-border payment costs may be exaggerated.https://t.co/pWrEGlKLoR ...

Federal Reserve Independence & Governance - The Federal Reserve's independence is crucial for maintaining low inflation and economic/financial stability, shielding long-term decisions from short-term political pressures [4][5][6] - The structure of the Federal Reserve is designed to ensure independent policy makers make decisions affecting the economy over the longer term [5] - Central bank independence has proven valuable worldwide, leading to better outcomes for countries [6] Economic Outlook - GDP growth slowed to approximately 125% (one and a quarter percent) at an annual rate in the first half of the year, compared to around 250% (two and a half percent) the previous year [9] - The economy is undergoing an adjustment process, partly due to post-pandemic factors and policy changes, including trade policy [10] - The economy is expected to continue growing at an annual rate of 100% to 150% (one to one and a half percent) for the year as a whole, slower than the previous year but still with positive momentum [11] Labor Market Analysis - The labor market is currently solid, with an unemployment rate of 42% (four and two-tenths percent), which is historically low [13] - There has been a slowdown in the pace of hiring and payroll growth, partly due to a slower labor supply caused by reduced immigration [14] - Wage growth remains consistent with a solid labor market and inflation trending towards the 2% goal [19]

Monetary Policy - The Fed should maintain autonomy and independence in setting monetary policy, specifically regarding interest rates, to ensure economic stability and manage inflation effectively [1] - Political interference in monetary policy can lead to increased inflation, reduced economic stability, and ultimately higher interest rates [1] Financial Regulation and Stability - The Fed's autonomy in financial regulation and stability is not supported; political officials should have influence in these areas [2][3] - Political officials appropriately influence financial regulation and stability through appointments and policy implementation [3][4] Public Policy - Public policy areas like liberal arts, education, the environment, inequality, and diversity are not central to the Fed's mission [4] - Concerns exist regarding potential overreach by the Fed into public policy areas, raising questions about the appropriateness of its involvement [4][5]

Federal Reserve Assessment - The speaker suggests examining the entire Federal Reserve institution to assess its success [1] - The speaker questions whether the Federal Reserve has succeeded in its mission, drawing a parallel to the FAA and suggesting a need to investigate mistakes [2] - The speaker criticizes the Federal Reserve for not being able to break out of a certain mindset, questioning the work of its PhD economists [3] Monetary Policy & Regulation - The Federal Reserve deals with monetary policy, regulations, and financial stability [2] - The speaker is scheduled to be the keynote speaker at a regulatory conference, discussing regulation [1] - The speaker notes that despite fear-mongering over tariffs, there has been very little, if any, inflation, and that inflation numbers have been great [2][3]

RT Sander Lutz (@s_lutz95)🚨NEW: This morning, the Senate Banking Committee will hold a hearing on crypto market structure legislation. I’m hearing Elizabeth Warren, top Dem on the committee, will announce she would support a bill if it meets these 5 criteria:“1. Protecting our bedrock securities laws;2. Providing basic investor protections;3. Preserving our financial stability;4. Requiring crypto actors to implement commonsense anti-money laundering and sanctions enforcement programs; and5. Stopping public ...

RT nftimm (@nftimm)Had a pretty emotional moment driving with my 10-year-old son today.We were on our way to our new house in the countryside — a house where he finally gets his own bedroom after years of sharing with his sister… after a season when we had to move back in with my parents because we couldn’t afford rent.As we pulled into the driveway — big back garden, double garage, more bedrooms and living spaces than we ever dreamed of — in our new car (not the old battered one that used to break down on ...