Federal Reserve Chairman Jerome Powell says the U.S. central bank is looking at whether to issue a digitaldollar with a 'very broad scope.' crypto CBDC
Fed Chair Jerome Powell Updates Work on Digital Dollar — Says US Central Bank Digital Currency Will Take 'at Least a Couple of Years'
“Cash is not disappearing here in the United States. We still use cash quite a lot,” he began. However, the central banker noted: “It is declining, not in absolute terms but compared to non-cash payments, it’s declining.” We are looking at it very carefully. We are evaluating both the policy issues and the technology issues, and we are doing that with a very broad scope.
The Fed chairman explained: “We see ourselves as working in collaboration with Congress … but also with the executive branch which brings expertise to many of the issues that we have to deal with here.”