Boston Fed President on Tech Developments

BOSTON (Reuters) – Federal Reserve Bank of Boston President Susan Collins emphasized the need for vigilance regarding technological advancements in the financial system during a recent speech.

Collins stated, "We must all be attuned to the very real risks and challenges" posed by these innovations.

She remarked on the duality of technological change, suggesting that optimism could lead to a "virtuous cycle" where the financial system benefits from innovations, adapting to economic shifts while fostering growth.

However, she refrained from discussing monetary policy or economic outlook.