Fed’s Lael Brainard pushes digital dollar as central bank currency race heats up
Posted on AllSides May 24th, 2021
From The Center
Federal Reserve Governor Lael Brainard pressed the case for a digital dollar, saying Monday that a cryptocurrency backed by the central bank could provide a variety of benefits.
Providing financial services to the nearly 1 in 5 Americans considered “underbanked” is one of the advantages Brainard cited in a speech to a conference presented by Coindesk.
She also cited the safety of a Fed-backed system, as well as improvements in efficiency and cross-border payments, or transactions between people in different countries.
Some content from this outlet may be limited or behind a paywall.
AllSides Media Bias Rating: Center
