Japan's PM Takaichi: The BoJ and government must work closely

Thank you, Susan, and good morning, everyone. It is my pleasure to welcome you to the Federal Reserve Board for our first Payments Innovation Conference.1 My objective in creating this conference is twofold. First, I wanted to have a conference that focused on the new technologies that have come from the defi and crypto worlds and how they are entering the mainstream payments ecosystem. My goal is to have a vibrant discussion about payments between the traditional payment incumbents and the new entrants from the defi world. Second, I wanted to send a message that this is a new era for the Federal Reserve in payments—the defi industry is not viewed with suspicion or scorn. Rather, today, you are welcomed to the conversation on the future of payments in the United States and on our home field—something that would have been unimaginable a few years ago. As you all know, we are well into a technology-driven revolution in payments, and I am here to say that the Federal Reserve intends to be an active part of that revolution. A number of technological advances are transforming the payment system. Stablecoins and tokenized assets making use of distributed ledger technology. The rapid adoption of artificial intelligence (AI). And, increasingly, the convergence between these innovations and the traditional financial ecosystem. This includes the institutions and infrastructure that our economy has long depended on to operate a safe and efficient payment system. And, yes, this also includes the Federal Reserve. The revolution transforming payments is demanding change everywhere, and I will say more in a moment about some new ideas that the Federal Reserve is studying to support thes Fed's Waller: It is a 'new era’ for the Fed in payments Waller Does Not Comment on Monetary Policy or Economy During Opening Remarks at Fed Payments Conference

The Consumer Price Index (CPI) rose 2.4% on a year-over-year basis in September, up from a 1.9% increase in August. On a year-over-year basis, gasoline prices fell less in ...