Waller Says Fed Should Work With Industry on Payment Services

Federal Reserve Governor Christopher Waller called to embrace the “technology-driven revolution” taking place in artificial intelligence and stablecoins as a way to boost the US economy, although some critics may be skeptical of all the hype.

“The technologies available today might be new, but leveraging innovative technology to build new payment services is not a new story,” Waller said in prepared remarks for the Wyoming Blockchain Symposium.

Waller has previously supported what he sees as some aspects of decentralized finance — including technologies that support virtual currencies — complementing the traditional payments system, pointing to distributed ledger technology, which offers ...