Fed’s Waller Says Stablecoins to Broaden Reach of US Policy (1)

Federal Reserve Governor Christopher Waller said the spread of stablecoins around the world could amplify the influence of US central-bank policy.

“Countries that adopt it, it’s like a fixed exchange rate system,” Waller said Sunday at an event in Dubrovnik, Croatia. “You are going to import US monetary costs, so it’s broadening the reach of US monetary policy in countries that use more stablecoins.”

The comments echo previous remarks. In a speech in February 2025, Waller said he’s supportive of stablecoins because they’re likely to propagate the US dollar’s status as a reserve currency, though they need a clear set ...