Federal Reserve Chairman Jerome Powell has provided an update on the Fed’s central bank digital currency (CBDC) work. DigitalDollar crypto
Federal Reserve Chairman Jerome Powell has provided an update on the Fed’s central bank digital currency work in a hearing before the House Financial Services Committee. While stating that the Fed is “making progress on technological issues,” Powell stressed that “policy issues are equally important.
When asked about the Fed’s decisions regarding the structure and architecture for a CBDC, the Fed chairman clarified: “How would this work? Does it work? What’s the best technology? What’s the most efficient? — we are really in an early stage,” he continued. We haven’t decided that this is something that the financial system in the country would want or need, so that’s going to be very important.
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