[inaudible conversations] we are on a tight time schedule. Today the conversation is on fire. [inaudible] a decade of governor waller. Prior to his confirmation appointment as the Federal Reserve board governor he was executive Vice President of the st. Louis reserve and a partner that the distinguished economic professor at u. Of Notre Dame University of kentucky and university of indiana. With an extensive and to lesters academic pedigree with experience within the st. Louis Federal Reserve he has taken that view to washington and has come up with some strong views in washington and i want to start with the comment you made in a speech entitled cdbc a solution in search of a problem. In that speech he said quote theres no reason to think the Federal Reserve can develop Cheaper Technology than private firms. End quote. I opened state america are the runs on the cdbc commercial Digital Currency. Do you see a benefit to society that swapping out the first commercial to central . I gave
The Financial System that we deserve to have for everyone. We need to do a lot better and bring all of the rains together to get better. What she said. Soul. [applause] thank you so much for great panel. We are taking a break. Cause [inaudible conversations] we are on a tight time schedule. Today the conversation is on fire. [inaudible] a decade of governor waller. Prior to his confirmation appointment as the Federal Reserve board governor he was executive Vice President of the st. Louis reserve and a partner that the distinguished economic professor at u. Of Notre Dame University of kentucky and university of indiana. With an extensive and to lesters academic pedigree with experience within the st. Louis Federal Reserve he has taken that view to washington and has come up with some strong views in washington and i want to start with the comment you made in a speech entitled cdbc a solution in search of a problem. In that speech he said quote theres no reason to think the Federal Reser
The issue that we have as we shift away from technology there is no question from our point of view it is a more secure technology. Is his successor schip and bin . No. Not in our view because of the way you authenticates our cardholder. But that said it is a significant improvement in cars security verses traditional strike only but shipping and can chip and pin for attacks when somebody loses a card but in the chip and pin world that is practically impossible although we did jesse an article talkedabout new streaming technology coming out of mexico that may make chip and pin cards more vulnerable than men previously suspected. But that said i dont think there is any question were moving emv there are millions of these cards provided to consumers. This is something they will get used to having in their wallets but it is not the Silver Bullet against fraud. We have seen in other countries such as the u. K. When they made the shift from the of Magnetic Stripe much of the fraud associate
Would begin accepting chip and transactions. That they would actively, and grow so the issue such cards moving forward. Layers ofut a multi our system and how retail transaction at all those layers can be more secure coming forward. Local inis in other states and entities, we put out a guidebook of sorts, tot part this is, to guide state and local entities so they can work more aggressively and actively to do what other states are doing and issue chip and pin protected cards. I encourage you to go to gsas website and see how they suggest to follow suit and address transactions more securely. Stakeholder, i will do in my closing. I will close by saying, i think we are at a strategic point. We are positioned for success moving forward with all of the people in the room, and the panel, and the private sector, various Government Agencies and other entities in the past year. But there is a lot of work that needs to be done. Nothing is a Silver Bullet. Puzzled. Pieces of the the last thing i
Position. This is very unamerican. Very unamerican. But you know, people are growing aware of that. You know, events like here, we try to take advantage of whatever venue we can have to express our views. And listen, i mean i came to this Country First time in the early 80s. Things are completely different, you know, 35 years later. America in the 80s, being a palestinian in the america in the 80s, i dont want anyone to experience that. It was tough. It was tough. Today, many sympathizers, many people who understand, many people who are willing to listen and this is encouraging, because the more we have people who understand both of you i never ask anyone to be antiisraeli, propalestinian. Im asking people to be for justice, for peace, for equality. This all im asking you to be. Thank you very much. [ applause ] ambassador, id like to thank you so much for coming to the Palestine Center today. Can i just thank you for being all of your experience as a diplomat political analyst and adv