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Jinse Finance reported that payment company Stripe has announced that it now allows users to pay for subscription services using stablecoins, further expanding the application of crypto payments in everyday consumer scenarios.

Jinse Finance reported that "Federal Reserve mouthpiece" Nick Timiraos stated that Federal Reserve Chairman Powell's remarks on the balance sheet accomplished several things: 1) Given the recent signs of strengthening in overnight repo rates, the speech provided a mark-to-market assessment of the current quantitative tightening outlook; 2) It refuted recent criticisms (such as those from US Treasury Secretary Bessent and others) that the support measures during the pandemic—implemented at the time with broad support from Congress and the early Trump administration—were absurd policy interventions. Powell acknowledged (as he has before) that stopping quantitative easing more quickly would have seemed wiser, but given how rapidly and sharply the Federal Reserve changed course in 2022, this move had no substantial impact on the macroeconomy. 3) It also defended against efforts by bipartisan populist senators to strip the Federal Reserve of its ability to pay interest on excess reserves (IOR), warning that revoking this policy tool could cause greater disruption to the markets.