Michelle Bowman, a governor of the Federal Reserve Board, expressed her views on financial innovation at Harvard Law School on Oct. 17. She discussed central bank digital currency (CBDC), stablecoin, and various technologies to improve existing systems. Bowman reiterated her call for a regulatory framework for financial innovation and expressed concerns about the low level of regulation of stablecoins. She also stated that a CBDC could lead to bank disintermediation if not properly designed and saw no compelling arguments for the superiority of CBDC over other alternatives.