Victoria Guida on Developments at the Federal Reserve and in Financial Regulation
Macro Musings with David Beckworth
00:00
Should Banks Transfer Money to the Fed?
Sally Kohn: Sarah Bloom-Raskin was nominated to the Fed board of governors. She says she lost her bid after a FinTech company that advertised on its website had a master account at the Fed. Now Custodia, which used to be called Evanti, now they're Custodia,. and Kraken have sued the Fed over this. Kohn: It's really drawn attention to the fact that we don't actually know who has master accounts. And the question is like, why? Why shouldn't we know that?
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