Federal Reserve Board member Warrell expressed his views on decentralized finance at the Vienna Macroeconomic Seminar held at the Higher Institute of Vienna, Austria. He stated that the advancements in DeFi could have a profound impact on financial market transactions, improving efficiency and providing significant value that centralized financial institutions and markets have brought for centuries.

Warrell added that centralized finance has obviously brought benefits to people, but it has also brought some costs.