EconomyFed stablecoin research warns the same dollar could be counted twice in M1 or M2
A Federal Reserve staff note published Sept. 4 outlines how regulated payment stablecoins could eventually be classified in M1 or M2, but only after statistical adjustments. Without accounting for reserve assets already included in the aggregates, US versus global circulation, and economic use, a higher money-supply figure could reflect dollars being given a new wrapper rather than new purchasing power. The research represents its authors’ views and is not a Fed policy deliberation.
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CryptoSlate★★★☆☆2026-09-05 16:45Original
Fed stablecoin research warns the same dollar could be counted twice in M1 or M2
Economy