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Yellen Signals Interest in Backing Digital-Dollar Research

  • Digital currency could increase access to financial services
  • Yellen says could help deliver payments faster, safer, cheaper
Bloomberg business news
Fed Looking Very Carefully at Issuing a Digital Dollar: Powell

Treasury Secretary Janet Yellen signaled the Biden administration supports research into the viability of a digital dollar, a shift from the lack of enthusiasm shown for the concept under her predecessor, Steven Mnuchin.

“It makes sense for central banks to be looking at” issuing sovereign digital currencies, Yellen said at a virtual conference on Monday hosted by the New York Times.