Fed’s Fancy New Plaything: Crypto Firms Get a Leg Up (But No Interest!) 🏦💸

This grand scheme, however, is not without its stingy limitations. Full bank privileges? Perish the thought! These accounts would likely earn no interest whatsoever, and the Fed’s discount window would remain firmly shut, as if it were a drawing-room door slammed in one’s face. Balance caps and risk limits would abound, like a hostess at a garden party who’s determined to keep the champagne flowing-but only in thimblefuls. Waller, ever the cautious host, noted that the plan remains in its exploratory phase, as if the Fed were testing whether guests might accidentally spill the punch bowl.




