In the summer of 2021, the U.S. Federal Reserve will publish a discussion paper that will supplement the previously initiated study on the advisability of issuing a digital dollar. This is stated in the regulator’s press release.
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The statement notes that the main concerns are whether the United States can improve the current domestic payments system.
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\”The design of CBDC will raise important questions of monetary policy, financial stability, consumer protection, legislation and privacy, and will require careful analysis, including input from the public and policymakers,\” said Fed Chair Jerome Powell.
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According to him, the digital dollar will not replace ordinary money but will complement it. A similar statement the official made in March 2021 at a conference on virtual payments.
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Earlier, Chairman of the U.S. Senate Banking Committee, Sherrod Brown, urged the Fed to explore the possibility of issuing a digital dollar. In his view, the agency should take the lead in CBDC.
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Earlier in February, U.S. Treasury Secretary Janet Yellen mentioned the need to consider launching a digital dollar.
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