Federal Reserve Governor Michelle Bowman: Stablecoins could significantly lower the R* rate. If R* declines, the policy rate should also decrease. When access to dollars is restricted, stablecoins can meet the demand. The growth of stablecoins should boost the supply of funds available for loans

Federal Reserve Governor Michelle Bowman: Stablecoins could significantly lower the R* rate. If R* decreases, the policy interest rate should also decrease. When access to dollars is restricted, stablecoins can meet the demand. The growth of stablecoins should boost the supply of funds available for loans.

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