Fed's Waller flags stablecoins as a T-bill demand problem
Waller's framing pulls stablecoins out of the crypto silo and into the Fed's policy perimeter, where Treasury issuance, bank funding, and dollar liquidity all collide.
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Waller's framing pulls stablecoins out of the crypto silo and into the Fed's policy perimeter, where Treasury issuance, bank funding, and dollar liquidity all collide.
The directive signals a sharper federal posture on energy antitrust, with the Justice Department now tasked with identifying whether refiners coordinated to push prices higher.
If Friday's jobs print confirms 4.1% unemployment is sticky, the Fed's hand stays hawkish, and the bid under BTC's summer rally gets thinner.
Bitcoin is sliding on geopolitics and a quiet $2.3B drain from exchange stablecoin reserves, and the catalyst calendar this week decides the next leg.
The crypto signal came from the Jackson Hole agenda, not the chair. Warsh's address reaffirmed the inflation fight and warned markets against front-running Fed speeches for trade signals.