U.S Federal Reserve Is Considering Floating Its Own CBDC

According to a tweet from a financial reporter Zachary Warmbrodt, the Federal Reserve Board Chairman Jerome Powell, has now offered an official response to a request by two Representatives including French and Bill Fosters, which sought to find out whether or not the Federal Reserve was considering floating its own digital currency.

Powell also says that there are many things to consider as a U.S. CBDC would need to satisfy certain questions. He wrote:

“… In the U.S. context, issuing a central bank digital currency for general use would raise important legal, monetary policy, payments policy, financial stability, supervision and operational questions that need to be considered carefully. Nonetheless, the Federal Reserve will continue to analyze the potential benefits and costs of central bank digital currencies.”

Image Credits: Pixabay

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