Fed's Cook (voter) does not comment on monetary policy or the economic outlook

Tariffs / trade policyCook says tokenization can support multicurrency and foreign exchange transactionsFinancial conditions Tokenized US assets more than doubled market capitalisation in the last year to around USD 25bln Tokenization could improve collateral and liquidity management processes Tokenized funds for margin requirements can mitigate stress events in funding markets Tokenized MMFs enable frequent intraday investment and redemption Programmable contracts enable tokenized repo transactions intraday 24/7 trading and settlement may support intraday liquidity in times of stress Says around-the-clock trading and settlement may speed up a run on the issuer Notes tokenized assets expand shock transmission channels to traditional financial system Says the Fed monitors tokenization and responsible innovation with global peers