Monday, October 25

FED to Publish Research Paper on Digital Currency

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Federal Reserve Governor Jerome Powell announced today that the Federal Reserve will publish a research report on CBDC this summer.

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This document, which will be published, will be made to evaluate the benefits and risks of CBDCs.

Powell claimed that the US has adapted to developments in the payments sector and said central banks could take advantage of new technological possibilities:

“Our focus is on providing a secure and efficient payment system that brings wide benefits to American households and businesses while also embracing innovation.”

Before the FED takes any action regarding the CBDC, it will want to get the opinion of the public.

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