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Fed governor Bowman sceptical on digital US dollar
Michelle Bowman has become the latest Federal Reserve Governor to pour cold water on a US CBDC, saying that the benefits of a digital dollar are unclear while the risks could be significant. The Fed has been investigating the pros and cons of a digital dollar for several years, publishing a discussion paper on the issue in January 2022. At a Harvard Law School event on Tuesday, Bowman argued that the US has a "safe and efficient" payments system that is already evolving with "responsible innovations, notably the recently-launched FedNow. She continued: "Future innovations may further build upon these services to ... (full story)