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Powell’s CBDC Puzzle: Deciphering Where the Fed Stands
Federal Reserve Chair Jerome Powell was recently questioned over growing concerns that a US central bank digital currency, or CBDC, might be launched in the near future. Central banks around the world are leading the charge for CBDCs, so it came as a welcome surprise for many when Chair Powell said, “We’re nowhere near recommending or adopting a [CBDC].” Still, there are several open questions that need to be addressed. Is the Fed Working on a CBDC? When testifying before the Senate Banking Committee, Chair Powell said, “We’re nowhere near recommending or adopting a [CBDC] but … the thought was that the ... (full story)