Julie Hill on the History and Recent Developments of Fed Master Accounts
Macro Musings with David Beckworth
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Macrow Musings - MasterKentz
Julie Hill: Even if the Fed comes down on a permanent basis and says, no FinTechs, stable coins can't get access to the master account, at least be transparent about it. We should know why reserve trust was okay and why custodia is not so that people who are trying to plan their business know how to make themselves more like Reserve Trust or less like Custodia. Our whole system of banking regulation relies on the idea that banks are going to be told what the rule is and we're going to hope that they do their very best to comply with that rule. Well, it all breaks down. If you don't tell them what you're looking for or if
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