TechFlow news, July 18 — According to Jinshi Data, Federal Reserve Governor Waller said stablecoins bring competition to the payment system but do not pose a threat. He stated that no one from the Trump administration has contacted him regarding the position of Fed Chair. The economy faces increased risks, and current conditions call for monetary policy closer to a neutral level, leaning toward accommodative policy rates. Upside inflation risks are limited; tariffs will push inflation higher in the short term but gradually fade next year. Without tariff effects, inflation would approach the 2% target. Delaying rate cuts could increase the risk of more aggressive measures later; a cut in July would provide room to hold rates steady in subsequent meetings. If core inflation remains under control and economic growth is weak, further rate cuts will be needed—action should not wait until labor market problems emerge.
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