The US Federal Reserve Board has announced a conference scheduled for October 21 to discuss innovations in payments, focusing on stablecoins and tokenization. Governor Christopher Waller emphasized the need to explore new technologies that enhance the safety and efficiency of payments, especially following the passage of the GENIUS Act in July, which requires regulatory frameworks for payment stablecoins. The announcement is significant as it coincides with ongoing legal challenges concerning the Fed's leadership following President Trump's claims of mortgage fraud against Governor Lisa Cook, who has filed a lawsuit to maintain her position. A letter from around 600 economists cautions against undermining the Fed's independence, warning that this could increase monetary policy uncertainty and raise costs for consumers and businesses.

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