The Fed Is Evaluating Whether to Launch a Digital Currency and in What Form, Powell Says

This is not unrelated to yesterday’s announcement about Biden” plans to nominate Saule Omarova to the position on Comptroller of the Currency. Recall that Omarova wants to “end banking as we know it” by moving consumer banking to the Federal Reserve from private institutions. I think this potential sweeping change is directly linked the digital currency plans.

The Fed is evaluating whether to launch a digital currency and in what form, Powell says (cnbc.com)

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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