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Powell Seeks Input as Fed Digs Deeper Into Digital Currencies

  • Fed to play leading role in developing international standards
  • Key focus is on how CBDC can improve an already safe system
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Fed to Issue Report on U.S. Digital Currency
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Federal Reserve Chair Jerome Powell turned up the volume in the U.S. digital dollar debate, announcing the central bank will publish a research paper and seek public comment as it weighs issuing one in the future.

“We are committed at the Federal Reserve to hearing a wide range of voices on this important issue before making any decision on whether and how to move forward with a U.S. CBDC,” he said in a statement on Thursday, referring to central bank digital currencies. “To help stimulate broad conversation, the Federal Reserve board will issue a discussion paper this summer outlining our current thinking on digital payments, with a particular focus on the benefits and risks associated with CBDC in the U.S. context.”