Mnuchin, Powell See No Need for Fed to Issue Digital FX
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Jerome Powell and Steven Mnuchin during the G-20 finance ministers and central bank governors meeting in Fukuoka, Japan, on June 8, 2019.
Photographer: Kim Kyung-Hoon/ReutersThis article is for subscribers only.
Treasury Secretary Steven Mnuchin said he and Federal Reserve Chairman Jerome Powell don’t expect the U.S. to create a digital currency.
“Chair Powell and I have discussed this -- we both agree that in the near future, in the next five years, we see no need for the Fed to issue a digital currency,” Mnuchin said Thursday at a House Financial Services Committee hearing in Washington.