Waller's words are quite direct—widespread adoption of stablecoins = a de facto fixed exchange rate, allowing the Federal Reserve's scythe to cut even further.

ME News Report, June 1 (UTC+8), Federal Reserve Board Member Waller stated during a special discussion at the 32nd Dubrovnik Economic Conference that the widespread adoption of stablecoins worldwide could amplify the impact of Federal Reserve policies. "For countries that adopt stablecoins, it's like a fixed exchange rate system." "You will input the cost of U.S. currency, so in countries that use stablecoins more, it effectively expands the reach of U.S. monetary policy." (Source: Jinshi Data)