Fed’s Logan Says Digital Money Could Affect Central Bank Operations
wsj.comThe Federal Reserve Bank of New York official responsible for managing the central bank’s balance sheet says private digital money could have notable effects on how monetary policy is implemented and could lead to greater variability in the size of central bank balance sheets.
Speaking Thursday, Lorie Logan, who is currently the manager of the Fed’s $9 trillion System Open Market Account and will become this summer president of the Dallas Fed, took stock of how things like cryptocurrencies, including stablecoins and central bank digital money, might impact how central banks make monetary policy. Ms. Logan didn’t comment on the U.S. monetary policy outlook and cautioned that her remarks were general in nature and not confined to issues facing the Fed alone.
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