Fed Governor Suggests Stablecoin Growth Could Lead to Interest Rate Cuts
Fed Governor Suggests Stablecoin Growth Could Lead to Interest Rate Cuts
Federal Reserve Governor Stephen Miran indicated that the increasing demand for dollar-pegged stablecoins could potentially exert downward pressure on interest rates. This new consideration is now on the Fed's radar, as highlighted in his speech at the BCVC Summit on November 7. The article also briefly references a US government shutdown deal offering potential relief for the broader crypto market.
Federal Reserve Governor Stephen Miran said growing demand for dollar-pegged stablecoins could push down interest rates, putting a new factor on the Fed’s radar. Related Reading: US Gov’t Shutdown Deal Sparks Hope For Crypto Market Relief According to a speech he gave at the BCVC Summit on November 7, stablecoins that channel savings into dollar […]