Board of Governors of the Federal Reserve System

For release at 10:00 a.m. EDT (3:00 p.m. CEST) July 8, 2022 Crypto-Assets and Decentralized Finance through a Financial Stability Lens Remarks

and, according to available indicators, probably stayed at roughly the

approach described in the proposed rule from last year. This final rule

policy actions. In connection with this discussion, Board members considered...POLICY IMPLEMENTATION -- Interest rate on reserve balances unchanged;

Policy I will now turn to monetary policy. Over the second half of 2019...policy will likely remain appropriate. Of course, policy is not on a preset

policy—and meaningfully mitigate the adverse effects of the ELB constraint...policy rate at the ELB for an extended period—and temporarily overshooting

and would account for a smaller fraction of fed funds transactions), so...policy (with the added feature that the Federal Reserve will continue

background for its discussion of the Federal Reserve’s review of monetary...and, after 10 years of sustained economic expansion, the federal funds

Warsh Messrs. Evans, Lacker, and Lockhart, and Ms. Yellen, Alternate Members...and, as time permits, discuss it at the next meeting. Without further

Background and Observations Recent discussions on the future of banking...approach. As highlighted by Federal Reserve Board Governor Michelle Bowman