Powell squashes the possibility that the Fed will develop its own digital currency

Powell squashes the possibility that the Fed will develop its own digital currency


Key Points
  • Fed Chair Jerome Powell asserted Tuesday that the central bank will not develop its own digital currency as long as he is in charge, ending several years of speculation.
  • Over the years, multiple officials have raised concerns, with most saying there was no obvious need for a CBDC and citing concerns over privacy and other issues.



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