Fed Explores ‘Once in a Century’ Bid to Remake the U.S. Dollar

I think it is appropriate to consider the move for “digital health passports”, “digital IDs”, and the introduction of “digital currencies” as an integrated digitization effort. These are all tools, but in who’s hands are the tools? How might they be used?

“Legitimate digital public money could help drive out bogus digital private money, while improving financial inclusion, efficiency, and the safety of our financial system — if that digital public money is well-designed and efficiently executed,” (what controls might be placed on Bitcoin and other private digital currencies once central banks introduce their own digital currencies?)

Fed explores ‘once in a century’ bid to remake the U.S. dollar – POLITICO

Published by markskidmore

Mark Skidmore is Professor of Economics at Michigan State University where he holds the Morris Chair in State and Local Government Finance and Policy. His research focuses on topics in public finance, regional economics, and the economics of natural disasters. Mark created the Lighthouse Economics website and blog to share economic research and information relevant for navigating tumultuous times.

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