Federal Reserve System | ForkLog

ForkLog 5 29.06.2021

New York Fed chief: CBDCs pose challenges for central banks

The potential rollout of national digital currencies (CBDCs) poses a challenge to central banks. This view was voiced by New York Fed President John Williams, according to Reuters.

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ForkLog 7 26.06.2021

The Fed calls the Tether stablecoin a ‘challenge’ to financial stability

The Tether stablecoin (USDT) threatens the stability of the financial system, says Boston Fed President Eric Rosengren.

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uskoryayushhei-sya-fragmentatsii-mirovogo-interneta

ForkLog 18 28.05.2021

Study: Corporate digital currencies could be a viable alternative for large corporations

Under certain conditions, corporations' use of their own digital currency instead of fiat may be a viable solution. This finding comes from a Richmond Fed article. According to the authors, developing and launching the corresponding platform would require significant costs, including cybersecurity measures. In a low and stable inflation environment, corporations are better off using existing payment systems. The situation changes when these costs can be minimized, there is a broad customer base, and inflation rises, forcing consumers to shed fiat. Analysts estimate that for Amazon, issuing and using only its own digital currency would become economically viable if interest rates rise above 11% per year. The figure could be lower if the retailer increases its market share, presently estimated at 6%. Such high figures include substantial costs associated with regulatory compliance. Corporations' interest in issuing their own digital currencies lies in earning seigniorage, a feature of central banks. Among other reasons are increased customer loyalty, data collection, and reduced settlement risks.

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ForkLog 6 24.05.2021

Fed: US must play a vital role in setting CBDC standards

The Federal Reserve System (the Fed) is expanding its work on central bank digital currencies (CBDCs), with a focus on financial and geographic integration. Lael Brainard, a member of the Fed's Board of Governors, said this at the Consensus conference.

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ForkLog 13 21.05.2021

Fed to publish document on potential CBDC issuance

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.

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ForkLog 8 29.04.2021

Fed chair signals possibility of issuing a digital dollar

The chair of the Federal Reserve (Fed), Jerome Powell, said there is a possibility of issuing a CBDC and reminded that it is more important to get it right than to compete with others.

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ForkLog 39 23.03.2021

Fed chair Jerome Powell: Bitcoin could replace gold, but not the US dollar

Fed Chair Jerome Powell questioned Bitcoin's suitability as a store of value and a means of payment.

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ForkLog 13 23.03.2021

Fed and MIT to unveil digital-dollar prototype by July

Boston Fed staff and MIT will finish work on a prototype of the national digital currency (CBDC) by July. Bloomberg reports.

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ForkLog 10 19.03.2021

Jerome Powell: CBDCs will not replace fiat

The head of the Federal Reserve, Jerome Powell, said that central bank digital currencies (CBDCs) will not replace ordinary money, but will coexist with it.

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ForkLog 15 18.03.2021

Peter Schiff complains about the Fed and argues with his son over bitcoin

Bitcoin skeptic and gold advocate Peter Schiff lamented that officials at the U.S. Federal Reserve completely lack understanding of economics.

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ForkLog 9 08.03.2021

US senator urges Fed to lead study into the digital dollar

Chairman of the US Senate Banking Committee, Sherrod Brown, urged the Federal Reserve to study the possibility of issuing a digital dollar. The official sent the letter to the Fed chair, Jerome Powell.

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ForkLog 11 25.02.2021

Fed system outage highlights Bitcoin network resilience

US Federal Reserve System (the Fed) reported a technical outage that disrupted several services for hours. The cryptocurrency community seized the moment to highlight Bitcoin’s resilience.

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