The Federal Reserve Is Thinking About a Digital Dollar

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Maybe it's just me. I don't know but it kind of feels like the news center of gravity shifting back to the political and away from the economic so we are going to set that street right now. Genus new york times said he brady is at politico. Hey you do so gina. Let me start with you. If i could and the minutes of the federal reserve's most recent meeting which were out this week in which They said that they are ready to start talking. About talking about withdrawing support for this economy. I need you to help folks understand why that matters. What the effect might be right. So one important detail here is that it was a number of fed officials saying that they were thinking that if we saw rapid progress in the economy in the coming weeks and months that it would be appropriate to start a conversation about pulling back on by and so i think that the things synthesize are. It's a number. It's not all of them until we're not sure how. Widespread this agreement is and it seems like it. Probably doesn't include. Jay powell the fed chair. That's been important caveat. That said it's clear that there is some portion of the committee and substantial portion of the committee given the qualification number That is kind of getting ready to sort of dial back these bond purchase and that's really important because they have not only helping the economy but really been propping up asset prices and helping the stock market and so i think when you see that conversation start that it's very attuned to sort of hinting. It's coming hinting. It's coming and getting people really ready for it again. So that the bottom doesn't fall out from under market like we saw in the paper trim episode after the global financial crisis when benn banenky kind of intensity. We're going to talk about. They bring and markets went nuts. Basically trying to avoid a repeat

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