Fed will launch a broad discussion of a digital dollar this summer, Powell says
Posted on AllSides May 20th, 2021
From The Center
The Federal Reserve will ramp up its exploration of a digital dollar later this summer, Federal Reserve Chairman Jerome Powell announced on Thursday.
In order to “help stimulate broad conversation,” the Fed will issue a discussion paper this summer outlining the central bank’s “current thinking” on digital payments and the benefits and tradeoffs of a central bank digital currency, or CBDC, Powell said in a statement.
The Fed has already been exploring the benefits and tradeoffs of a digital currency for the past several years, Powell said.
