Back in the spring, Federal Reserve Chairman Jerome Powell said the Bank would 'soon' release research on a central bank digital currency. It's now November and there's still no research in sight. But focusing on the Fed's inability to converge on a single CBDC opinion misses the point There is one obvious explanation for the delayed CBDC paper: there are fundamental differences in the Fed board on CBDC and stablecoins. While some are clearly supportive of CBDC, and primarily see stablecoins as a means of payment that need to be tightly regulated (e.g. just like banks, see our take on the recent President's Working ... (full story)