Powell Talks About U.S. Banking! 🏦🇺🇸
Attention, crypto community! Jerome Powell, the Fed chairman, spoke at the banking conference, and while there was no mention of a possible resignation, he made some key points clear about the future of banks in the United States:
* Innovation and Improvement: Powell emphasized that the Fed is a dynamic institution open to new ideas to strengthen the capital framework. This is key to the evolution of the financial system!
* Global Competition: He underscored the importance of large U.S. banks being able to compete effectively both with each other and with non-banking entities, even foreign ones! This could drive efficiency and innovation in the sector.
* Regulatory Cohesion: He insisted that all parts of the capital framework must work together to ensure stability and growth.
An important detail: There were no comments on interest rates, inflation, or monetary policy. Powell's focus was exclusively on the banking capital framework.
What do you think of these statements? Do you believe these ideas could open the door to greater interaction between traditional banking and the crypto world in the future? Let us know your comments! 👇
