In January 2022, the Federal Reserve raised some eyebrows… That was when America's central bank published a research report entitled Money and Payments: The U.S. Dollar in the Age of Digital Transformation. But don't let the humdrum title fool you. What the paper outlined – if implemented – would represent a massive transformation in money. That's because the report considered the question of a central bank digital currency ("CBDC"). As the name suggests, a CBDC is a digital version of a currency (the U.S. dollar, in this case) issued by a central bank that would be available to the public and the banking system. ... (full story)