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Fed’s Powell and Peers Aren’t Rushing Into Digital Currencies


Federal Reserve Chair Jerome Powell joined international peers in saying the launch of a digital currency would be a momentous step for the financial system that needs careful preparation.

“We have an obligation to be on the cutting edge of understanding the technological challenges as well as potential the costs and benefits” of a digital dollar, Powell said at Bank for International Settlements event on Monday. “We don’t need to rush this project.”