Many financial firms I talked to just told me that a reliable form of digital ID would really simplify the Anti-Money Laundering/Know Your Customer (AML/KYC) process, and make it faster, cheaper, and more reliable when they have to confirm the identity of customers.
Foster emphasizes the benefits of digital ID for financial processes.
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I think it is my personal goal to die before we have another financial crisis, and then I will be doing my job well.
Frankly, when I read about this, it triggered my PTSD from the AIG situation with credit default swaps during the financial crisis.
I guess when things are going well, as they currently are, it is all of our duties to look around the curve and see the risks that keep you up at night.
While the Presidency is often the focus of political pronouncements about macroeconomic conditions, there is no question that it undersells the importance and the independence of the work of the Federal Reserve Board.
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