BOSTON (Reuters) – Federal Reserve Financial institution of Boston President Susan Collins stated Friday the U.S. central financial institution must preserve a detailed watch on technological developments within the monetary system.
“We must all be attuned to the very real risks and challenges” ensuing from technical improvements, Collins stated within the textual content of a speech for an occasion at her financial institution.
“The optimist sees potential for a virtuous cycle, with the financial system benefiting from technological advances enabled by innovations, and adapting to changes in the economy – while a more efficient financial system, in turn, can boost economic growth,” she stated.
Collins didn’t touch upon the financial coverage and financial outlook in her ready remarks.
