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Federal Reserve Governor Christopher Waller said on Friday that stablecoins are a good thing for the U.S. payments system, but he doubts the financial system can support a large number of these assets. "I'll say I'm a personal, big advocate of stablecoins," Waller said at a New York Fed event. "I have been saying this for over three-plus years now, about how this could bring competition, efficiency and speed into the payments system."

(Reuters) -U.S. energy firms this week cut the total number of rigs operating for a second week in a row, even as the number of oil rigs rose to the highest since June, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by two to 590 in the week to April 4. Baker Hughes said this week's decline put the total rig count down 30 rigs, or 5% below this time last year.

In March, the U.S. added 228,000 jobs, while the unemployment rate ticked up to 4.2%.

America's top central banker has the same concerns as many other experts about what President Donald Trump's "Liberation Day" tariffs will bring: higher inflation and slower economic growth.

"Higher inflation and slower growth" are likely to be here a while, the Fed chair said Friday.

The question has been answered: Yes, Fed Chair Jay Powell does think about what color tie to wear.

Policymakers in coming months may face difficulty meeting their dual mandate to ensure stable prices and maximum employment, Federal Reserve Chair Jerome Powell said.