Skip to content
Subscriber Only

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
Video player cover image
Fed to Issue Report on U.S. Digital Currency
Updated on

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.”