Federal Reserve chairman Jerome Powell said Tuesday that he believes the U.S. central bank should work with Congress to create a digital dollar. Speaking before the Senate Banking Committee, Powell said that while existing laws governing the Fed's activities could serve as a basis for issuing a digitized version of the U.S. dollar, he expressed a preference for working on a legislation-backed push instead. The subject of a central bank digital currency was raised during questioning from Senator Pat Toomey of Pennsylvania. “I think this is such a fundamental issue, it would be ‘ideal’ if this were to be a product of ... (full story)