Powell: Need for Digital Dollar Is an Issue for Congress, Public

Federal Reserve Chair Jerome Powell said the central bank is involved in a large-scale research and development project on the digital dollar, and that questions of whether adopting such a currency would provide a public benefit have yet to be resolved.

“It’s a very, very large, complex project. And, you know, this is really just table stakes,” Powell said in an interview with “60 Minutes” on CBS. “This is understanding the technology and the possibilities so that you can really address the policy issues.”