Fed will hold meeting to discuss stablecoins and tokenization, Trump tries to fire Fed officials

According to Cointelegraph, the Federal Reserve plans to hold a meeting on October 21 to discuss payment system innovations, including the tokenization of stablecoins and financial products. Fed director Christopher Waller said innovation is the norm in the payment field and looks forward to exploring opportunities and challenges of new technologies. The meeting was announced as U.S. President Trump tried to fire Fed Director Lisa Cook, accusing him of involved in mortgage fraud. Cook refused to resign and filed a lawsuit. 600 economists warn that weakening the Fed’s independence will increase uncertainty in monetary policy. Trump has repeatedly expressed his hope to remove Fed Chairman Powell from his post before the end of his term in 2026. The Supreme Court's previous opinion expanded the president's power over independent institutions, but pointed out that the Fed is a "quasi-private entity with a unique structure" and that any change in its leadership must have "justified reasons."