FederalReserve JeromePowell digitaldollar The Fed will not be issuing a digital dollar anytime soon, says Powell
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Powell indicated that the central bank would instead be working in collaboration with Congress and the executive branch to evaluate the policy and technological issues. This includes a multi-year period during which the Fed will focus on “building public confidence in our analysis and ultimate conclusions, which we certainly haven’t reached yet.”
“First is intermediated. The second is private privacy protected, but the third is identity verified, so it would not be anonymous. It would not be an anonymous bearer instrument. And fourth is transferable or interoperable,” Powell said. “We would be looking to balance privacy protection with identity verification, which has to be done in today’s traditional banking system as well.”
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