Brainard: stablecoins ‘front and centre’ of regulatory focus
Contender for top Fed role also called for activation of countercyclical capital buffer
Governor Lael Brainard of the Federal Reserve Board has singled out stablecoins as a top regulatory priority and called for the activation of the countercyclical capital buffer, as the US economy recovers from Covid-19 amid ultra-easy monetary policy and a large fiscal expansion.
Speaking at the annual meeting of the National Association for Business Economics (NABE) on September 27, Brainard said prudential and markets regulators in the US need to work together, building on the statement by
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