👉Listen to Politics at Sam and Anne’s on your podcast app👈

Sam reveals there might be some Traitors-style plotting going on behind the scenes in government – but from who? And how might Sir Keir Starmer see off this challenge?

Budget speculation continues, and specifically – who is and is not a “working person”? And, should it occur, what would the consequences be of breaking a manifesto commitment? How perilous a moment for Starmer could this be?

And after the BBC’s director general and CEO of news resign, what does Starmer now say about the organisation? And who will come next in the top BBC job?

A growing demand for US dollar-tied crypto stablecoins could help push down the interest rate, says US Federal Reserve Governor Stephen Miran.

The Donald Trump-appointed Miran told the BCVC summit in New York on Friday that the dollar-pegged crypto tokens could be “putting downward pressure” on the neutral rate, or r-star, that doesn’t stimulate or impede the economy.

If the neutral rate drops, then the central bank would also react by dropping its interest rate, he said.

The total current market cap of all stablecoins sits at $310.7 million according to CoinGecko data, and Miran suggested that Fed research found the market could grow to up to $3 trillion in value in the next five years.

“My thesis is that stablecoins are already increasing demand for US Treasury bills and other dollar-denominated liquid assets by purchasers outside the United States and that this demand will continue growing,” Miran said.

“Stablecoins may become a multitrillion-dollar elephant in the room for central bankers.”