ECB's de Cos: Spanish inflation will remain high in the short term

tweet at 11:15am: *FED'S DALY: NEED TO GET INTEREST RATE TO NEUTRAL EXPEDITIOUSLY tweet at 11:15am: ðŸ§Â*DALY: SEES NEUTRAL RATE AT ABOUT 2.5% IN NOMINAL TERMS tweet at 11:15am: *DALY SEES 50-BP RATE INCREASES AT EACH OF 2 NEXT MEETINGS tweet at 11:17am: FED'S DALY: I AM COMFORTABLE TO DO WHAT IT TAKES TO GET INFLATION TRENDING DOWN HIGH INFLATION HAS BEEN GOING ON TOO LONG I'M NOT FORECASTING BEYOND NEXT COUPLE MEETINGS BECAUSE I DON'T KNOW WHAT DATA WILL BE tweet at 11:19am: Fed's Daly: - I am willing to do whatever it takes to get inflation heading downward - I am open to pulling the reins back on the economy

Good morning, everyone. I'd like to give my thanks to Columbia University's School of International and Public Affairs for partnering with the New York Fed once again and for hosting us today. It's wonderful to be here and to see so many colleagues who have traveled from near and far to attend this workshop. We'll have many important conversations over the next two days. To kick us off, I'm going to share some observations on the digital transformation of money and payments. I'll also discuss the potential implications for monetary policy implementation and for central banks more broadly. Before I begin, I must give the standard Fed disclaimer that the views I express here are my own and do not necessarily reflect those of the Federal Open Market Committee (FOMC) or anyone else in the Federal Reserve System. I will get to payments technology in a minute. But first allow me to take you back to the year 1877. You're amazed at the sound of music coming out of a new invention—the phonograph. Fast-forward a century, and you're listening to your favorite band on a cassette tape. In the 1980s, it's a CD. In the 2000s, you're scrolling through the greatest hits on your iPod. And today, perhaps even on your way here, you listened to a streaming service on your p tweet at 11:31am: FED'S WILLIAMS: THE ROLE OF CENTRAL BANKS WILL REMAIN TO SUPPLY LIQUIDITY AND STABILITY, BUT DIGITAL CURRENCIES COULD CHANGE IMPLEMENTATION. tweet at 11:31am: FED'S WILLIAMS: STABLECOINS AND CBDC CARRY RISKS AS WELL AS OPPORTUNITY.